64,659 Shares in First Horizon Co. (NYSE:FHN) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in First Horizon Co. (NYSE:FHNGet Rating) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 64,659 shares of the financial services provider’s stock, valued at approximately $1,413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHN. CENTRAL TRUST Co raised its holdings in shares of First Horizon by 116.0% in the 1st quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 580 shares during the last quarter. Field & Main Bank acquired a new stake in shares of First Horizon in the 2nd quarter worth about $33,000. AGF Investments LLC bought a new stake in First Horizon in the 1st quarter worth about $52,000. CWM LLC grew its position in First Horizon by 114.7% in the 2nd quarter. CWM LLC now owns 2,647 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Ancora Advisors LLC grew its position in First Horizon by 115.5% in the 1st quarter. Ancora Advisors LLC now owns 3,526 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,890 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of First Horizon in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.60.

Insider Activity

In other news, COO Tammy Locascio sold 36,228 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $24.34, for a total transaction of $881,789.52. Following the completion of the transaction, the chief operating officer now directly owns 169,290 shares of the company’s stock, valued at approximately $4,120,518.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.55% of the company’s stock.

First Horizon Stock Up 0.2 %

First Horizon stock opened at $24.62 on Wednesday. First Horizon Co. has a twelve month low of $15.00 and a twelve month high of $24.64. The firm has a 50 day moving average price of $23.83 and a 200-day moving average price of $22.89. The company has a market capitalization of $13.22 billion, a P/E ratio of 16.64, a P/E/G ratio of 2.95 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

First Horizon (NYSE:FHNGet Rating) last released its earnings results on Wednesday, October 19th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. First Horizon had a net margin of 26.45% and a return on equity of 12.37%. During the same quarter in the prior year, the company posted $0.50 earnings per share. As a group, equities analysts predict that First Horizon Co. will post 1.62 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Tuesday, January 3rd 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 2.44%. The ex-dividend date is Thursday, December 15th. First Horizon’s dividend payout ratio is currently 40.54%.

About First Horizon

(Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

See Also

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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