3,950 Shares in First Horizon Co. (NYSE:FHN) Purchased by Headlands Technologies LLC

Headlands Technologies LLC bought a new stake in shares of First Horizon Co. (NYSE:FHN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,950 shares of the financial services provider’s stock, valued at approximately $56,000.

Several other large investors have also recently bought and sold shares of the stock. Leeward Investments LLC MA increased its position in shares of First Horizon by 194.7% during the 4th quarter. Leeward Investments LLC MA now owns 2,209,915 shares of the financial services provider’s stock valued at $31,292,000 after purchasing an additional 1,460,028 shares during the period. State of New Jersey Common Pension Fund D raised its position in First Horizon by 5.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 299,061 shares of the financial services provider’s stock worth $4,235,000 after acquiring an additional 14,476 shares in the last quarter. Bailard Inc. bought a new stake in First Horizon in the fourth quarter worth about $547,000. Yousif Capital Management LLC lifted its holdings in First Horizon by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock valued at $3,761,000 after acquiring an additional 1,068 shares during the last quarter. Finally, South Dakota Investment Council boosted its position in shares of First Horizon by 4.0% during the 4th quarter. South Dakota Investment Council now owns 1,071,687 shares of the financial services provider’s stock valued at $15,175,000 after purchasing an additional 41,501 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FHN shares. Royal Bank of Canada raised shares of First Horizon from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods upgraded First Horizon from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $16.00 to $18.00 in a research report on Friday, April 5th. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $17.00 in a report on Friday, January 5th. JPMorgan Chase & Co. boosted their target price on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.15.

First Horizon Stock Performance

FHN stock opened at $15.06 on Thursday. The stock has a market cap of $8.35 billion, a P/E ratio of 10.53, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a 50 day simple moving average of $14.68 and a 200 day simple moving average of $13.63. First Horizon Co. has a 52 week low of $8.99 and a 52 week high of $17.49.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. During the same period in the previous year, the company posted $0.46 EPS. First Horizon’s revenue was down 4.7% on a year-over-year basis. Research analysts anticipate that First Horizon Co. will post 1.5 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, June 14th. First Horizon’s payout ratio is currently 41.96%.

First Horizon announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 23rd that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.