Atomi Financial Group Inc. Buys 2,477 Shares of First Horizon Co. (NYSE:FHN)

Atomi Financial Group Inc. grew its position in shares of First Horizon Co. (NYSE:FHN) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,883 shares of the financial services provider’s stock after buying an additional 2,477 shares during the period. Atomi Financial Group Inc.’s holdings in First Horizon were worth $300,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FHN. Envestnet Asset Management Inc. raised its holdings in First Horizon by 5.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 121,075 shares of the financial services provider’s stock worth $1,909,000 after purchasing an additional 6,696 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of First Horizon by 9.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 25,723 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 2,143 shares in the last quarter. Sei Investments Co. raised its position in shares of First Horizon by 19.0% in the 2nd quarter. Sei Investments Co. now owns 507,947 shares of the financial services provider’s stock worth $8,011,000 after acquiring an additional 81,155 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of First Horizon in the 2nd quarter valued at about $212,000. Finally, Marshall Wace LLP bought a new stake in shares of First Horizon during the 2nd quarter valued at about $267,000. 80.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on FHN shares. Raymond James boosted their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America upped their price target 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. Barclays raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company lifted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Evercore ISI boosted their target price on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,954 shares of company stock worth $4,519,333 over the last three months. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Trading Up 0.7 %

FHN opened at $21.05 on Monday. First Horizon Co. has a 12 month low of $13.45 and a 12 month high of $21.82. The stock has a fifty day moving average price of $20.53 and a 200-day moving average price of $17.91. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.19 and a beta of 0.92. 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 (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. As a group, equities research analysts anticipate that First Horizon Co. will post 1.63 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.85%. First Horizon’s dividend payout ratio is presently 44.12%.

First Horizon announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.