First Horizon Co. (NYSE:FHN) Shares Acquired by Salzhauer Michael

Salzhauer Michael boosted its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 258,618 shares of the financial services provider's stock after acquiring an additional 25,000 shares during the period. First Horizon accounts for about 1.8% of Salzhauer Michael's investment portfolio, making the stock its 12th largest position. Salzhauer Michael's holdings in First Horizon were worth $5,209,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its stake in shares of First Horizon by 365.0% during the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock worth $26,000 after purchasing an additional 1,325 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Covestor Ltd boosted its stake in shares of First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock worth $34,000 after purchasing an additional 651 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of First Horizon during the 3rd quarter worth about $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $2,323,877.40. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.87% of the company's stock.

First Horizon Trading Down 0.7 %

NYSE FHN traded down $0.15 during mid-day trading on Thursday, hitting $22.01. The company's stock had a trading volume of 4,340,538 shares, compared to its average volume of 5,814,267. First Horizon Co. has a 52-week low of $13.69 and a 52-week high of $22.44. The stock's fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $18.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $11.67 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $0.32 EPS. Research analysts expect that First Horizon Co. will post 1.64 EPS for the current year.

First Horizon announced that its board has authorized a share repurchase program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.73%. First Horizon's dividend payout ratio is currently 44.12%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Raymond James raised their target price on shares of First Horizon from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Robert W. Baird set a $17.00 target price on shares of First Horizon in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.04.

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.