Farther Finance Advisors LLC Has $52,000 Stake in First Horizon Co. (NYSE:FHN)

Farther Finance Advisors LLC raised its stake in shares of First Horizon Co. (NYSE:FHN) by 29.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,568 shares of the financial services provider’s stock after buying an additional 591 shares during the period. Farther Finance Advisors LLC’s holdings in First Horizon were worth $52,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in First Horizon in the fourth quarter valued at about $304,000. Merit Financial Group LLC bought a new stake in First Horizon in the fourth quarter valued at about $453,000. Smith Group Asset Management LLC bought a new stake in First Horizon during the fourth quarter worth about $1,813,000. Finally, Cerity Partners LLC grew its stake in First Horizon by 44.9% during the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock worth $1,779,000 after buying an additional 35,479 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale 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.

Analyst Ratings Changes

Several research firms have recently commented on FHN. The Goldman Sachs Group increased their price target on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup increased their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods increased their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Bank of America increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Price Performance

First Horizon stock opened at $19.26 on Monday. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $20.80 and its 200 day simple moving average is $19.22. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $0.32 EPS. Sell-side analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business 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 3.12%. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

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.