Bridgefront Capital LLC Acquires New Holdings in First Horizon Co. (NYSE:FHN)

Bridgefront Capital LLC acquired a new stake in First Horizon Co. (NYSE:FHN – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 9,258 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FHN. HBK Sorce Advisory LLC bought a new position in First Horizon in the 3rd quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in First Horizon in the 3rd quarter valued at approximately $39,000. TD Capital Management LLC acquired a new position in First Horizon in the 3rd quarter valued at approximately $50,000. EverSource Wealth Advisors LLC increased its position in First Horizon by 60.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,536 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 957 shares during the period. Finally, CENTRAL TRUST Co increased its position in First Horizon by 141.7% in the 3rd quarter. CENTRAL TRUST Co now owns 2,610 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,530 shares during the period. Institutional investors own 77.41% of the company’s stock.

First Horizon Trading Up 0.2 %

Shares of NYSE FHN opened at $15.56 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 0.94. First Horizon Co. has a 52-week low of $13.40 and a 52-week high of $24.92. The firm has a 50 day moving average price of $23.62 and a two-hundred day moving average price of $23.83. The stock has a market cap of $8.36 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93.

First Horizon (NYSE:FHN – Get Rating) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. First Horizon had a net margin of 25.66% and a return on equity of 12.98%. The company had revenue of $882.00 million during the quarter, compared to analysts’ expectations of $883.23 million. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts forecast that First Horizon Co. will post 1.89 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, March 16th. First Horizon’s dividend payout ratio (DPR) is presently 39.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of First Horizon in a research report on Thursday. They issued a “sell” rating for the company.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 93,157 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $24.80, for a total transaction of $2,310,293.60. Following the completion of the sale, the chief executive officer now directly owns 1,396,259 shares in the company, valued at $34,627,223.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other First Horizon news, CEO D Bryan Jordan sold 93,157 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $24.80, for a total value of $2,310,293.60. Following the completion of the sale, the chief executive officer now directly owns 1,396,259 shares in the company, valued at $34,627,223.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Terry Lawson Akins sold 4,694 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $24.67, for a total transaction of $115,800.98. Following the completion of the sale, the executive vice president now owns 145,691 shares of the company’s stock, valued at $3,594,196.97. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by corporate insiders.

First Horizon Profile

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First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through three segments: Regional Banking, Specialty Banking, and Corporate.