First Horizon Co. (NYSE:FHN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,068,111 shares of the financial services provider's stock after buying an additional 264,000 shares during the period. Renaissance Technologies LLC owned about 0.20% of First Horizon worth $21,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FIL Ltd increased its stake in shares of First Horizon by 33.1% in the 4th quarter. FIL Ltd now owns 807,802 shares of the financial services provider's stock worth $16,269,000 after acquiring an additional 200,927 shares in the last quarter. Invesco Ltd. increased its holdings in shares of First Horizon by 20.9% in the 4th quarter. Invesco Ltd. now owns 3,787,498 shares of the financial services provider's stock worth $76,280,000 after purchasing an additional 654,642 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of First Horizon by 18,310.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 10,678 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 10,620 shares during the last quarter. Cullen Capital Management LLC raised its stake in First Horizon by 6.0% during the 4th quarter. Cullen Capital Management LLC now owns 84,295 shares of the financial services provider's stock valued at $1,698,000 after buying an additional 4,805 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in shares of First Horizon by 4.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,621 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 676 shares during the period. Institutional investors own 80.28% of the company's stock.

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First Horizon Stock Down 1.8 %

Shares of NYSE:FHN traded down $0.31 on Wednesday, hitting $17.25. 8,373,268 shares of the company's stock were exchanged, compared to its average volume of 6,322,880. The firm's 50-day moving average is $19.53 and its 200 day moving average is $19.49. 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 company has a market capitalization of $8.87 billion, a PE ratio of 12.68, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the company earned $0.35 earnings per share. Sell-side analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.48%. First Horizon's dividend payout ratio is presently 44.12%.

Analysts Set New Price Targets

FHN has been the topic of several recent analyst reports. Raymond James decreased their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. UBS Group started coverage on First Horizon in a report on Tuesday, December 17th. They set a "buy" rating and a $25.00 price target on the stock. Citigroup increased their price objective on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Barclays lowered their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.30.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.87% of the company's stock.

About First Horizon

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.