Steward Partners Investment Advisory LLC Increases Holdings in First Horizon Co. (NYSE:FHN)

Steward Partners Investment Advisory LLC increased its stake in First Horizon Co. (NYSE:FHN) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,731 shares of the financial services provider’s stock after purchasing an additional 571 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in First Horizon were worth $317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sage Rhino Capital LLC bought a new stake in First Horizon during the fourth quarter worth about $201,000. Jones Financial Companies Lllp purchased a new position in shares of First Horizon during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its holdings in shares of First Horizon by 20.9% during the 4th 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 during the period. Fisher Asset Management LLC grew its stake in shares of First Horizon by 237.2% in the 4th quarter. Fisher Asset Management LLC now owns 818,345 shares of the financial services provider’s stock worth $16,481,000 after buying an additional 575,661 shares during the last quarter. Finally, Fort Sheridan Advisors LLC grew its stake in shares of First Horizon by 34.1% in the 4th quarter. Fort Sheridan Advisors LLC now owns 47,170 shares of the financial services provider’s stock worth $950,000 after buying an additional 12,000 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Barclays raised 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. JPMorgan Chase & Co. increased their price target 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, Stephens restated an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

Shares of FHN stock opened at $18.47 on Friday. The business’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $19.07. The company has a market cap of $9.63 billion, a PE ratio of 13.58, a PEG ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $0.32 EPS. Analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

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.