Proficio Capital Partners LLC Takes Position in First Horizon Co. (NYSE:FHN)

Proficio Capital Partners LLC acquired a new position in shares of First Horizon Co. (NYSE:FHN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 128,559 shares of the financial services provider’s stock, valued at approximately $2,589,000.

Several other institutional investors have also modified their holdings of FHN. CIBC Asset Management Inc boosted its holdings in shares of First Horizon by 3.5% in the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 559 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in First Horizon by 3.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 571 shares during the period. Access Investment Management LLC raised its position in First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 675 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of First Horizon by 7.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 773 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in First Horizon by 20.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,736 shares of the financial services provider’s stock valued at $95,000 after buying an additional 820 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

NYSE:FHN opened at $18.82 on Wednesday. The firm’s 50-day moving average is $20.88 and its 200-day moving average is $19.16. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly 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 quarter last year, the business earned $0.32 EPS. Equities research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio is presently 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 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. The trade was a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their price objective on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upped their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted 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. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $22.23.

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.