O Shaughnessy Asset Management LLC Raises Stock Position in First Horizon Co. (NYSE:FHN)

O Shaughnessy Asset Management LLC grew its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 37.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,722 shares of the financial services provider's stock after acquiring an additional 36,816 shares during the period. O Shaughnessy Asset Management LLC's holdings in First Horizon were worth $2,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FHN. Steward Partners Investment Advisory LLC increased its position in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after purchasing an additional 571 shares in the last quarter. Farther Finance Advisors LLC grew its stake in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares during the last quarter. Independent Advisor Alliance increased its position in First Horizon by 1.1% during the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock valued at $1,163,000 after buying an additional 632 shares in the last quarter. Access Investment Management LLC raised its stake in First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock valued at $1,782,000 after buying an additional 675 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in First Horizon by 20.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,736 shares of the financial services provider's stock worth $95,000 after acquiring an additional 820 shares in the last quarter. Institutional investors own 80.28% of the company's stock.

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First Horizon Stock Performance

First Horizon stock traded up $0.63 during midday trading on Tuesday, hitting $17.13. 1,514,266 shares of the company were exchanged, compared to its average volume of 6,233,472. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm has a market capitalization of $8.81 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The business has a fifty day simple moving average of $20.27 and a two-hundred day simple moving average of $19.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the previous year, the business posted $0.32 EPS. On average, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.50%. First Horizon's dividend payout ratio (DPR) is currently 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FHN shares. Barclays upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Royal Bank of Canada upped their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Monday. Finally, Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.57.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.