Teacher Retirement System of Texas Buys 48,177 Shares of First Horizon Co. (NYSE:FHN)

Teacher Retirement System of Texas boosted its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,416 shares of the financial services provider's stock after purchasing an additional 48,177 shares during the period. Teacher Retirement System of Texas' holdings in First Horizon were worth $4,057,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after buying an additional 7,715,191 shares in the last quarter. Raymond James Financial Inc. acquired a new position in First Horizon during the fourth quarter worth $102,467,000. State Street Corp boosted its stake in shares of First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider's stock valued at $410,789,000 after purchasing an additional 4,116,486 shares in the last quarter. Amundi grew its holdings in shares of First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider's stock worth $77,104,000 after purchasing an additional 2,683,746 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of First Horizon during the 3rd quarter worth about $39,242,000. 80.28% of the stock is owned by institutional investors and hedge funds.

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First Horizon Trading Down 0.2 %

FHN stock traded down $0.05 during midday trading on Friday, reaching $19.24. The company's stock had a trading volume of 5,246,993 shares, compared to its average volume of 6,197,596. The business's 50-day simple moving average is $20.69 and its 200-day simple moving average is $19.28. The stock has a market cap of $9.89 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last announced 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 return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

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

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business's 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 directly owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on FHN shares. Citigroup boosted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Stephens restated an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Barclays lifted their price objective on First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Wells Fargo & Company increased their target price on First Horizon from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Finally, Bank of America lifted their price target on First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, First Horizon presently has an average rating of "Moderate Buy" and a consensus target price of $22.23.

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.