Proficio Capital Partners LLC Purchases Shares of 128,559 First Horizon Co. (NYSE:FHN)

Proficio Capital Partners LLC bought a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 128,559 shares of the financial services provider's stock, valued at approximately $2,589,000.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon in the fourth quarter valued at about $30,000. Kentucky Trust Co purchased a new stake in shares of First Horizon in the fourth quarter valued at about $32,000. True Wealth Design LLC purchased a new stake in shares of First Horizon in the third quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

FHN has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective for the company. 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. Citigroup upped their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. Finally, Bank of America upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.23.

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Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.87% of the company's stock.

First Horizon Stock Up 0.2 %

Shares of FHN traded up $0.04 during mid-day trading on Friday, hitting $19.26. 11,623,347 shares of the company's stock were exchanged, compared to its average volume of 6,037,149. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock's 50-day moving average is $20.80 and its 200-day moving average is $19.17.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm earned $0.32 EPS. On average, sell-side analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. First Horizon's dividend payout ratio is presently 44.12%.

First Horizon 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.