Pacer Advisors Inc. Has $1.59 Million Holdings in First Horizon Co. (NYSE:FHN)

Pacer Advisors Inc. raised its stake in First Horizon Co. (NYSE:FHN) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,022 shares of the financial services provider’s stock after buying an additional 824 shares during the quarter. Pacer Advisors Inc.’s holdings in First Horizon were worth $1,592,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,325 shares during the period. Versant Capital Management Inc increased its stake in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares during the period. Covestor Ltd increased its stake in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares during the period. True Wealth Design LLC acquired a new position in First Horizon in the 3rd quarter valued at approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on Wednesday, January 22nd. The shares were 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 directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David T. Popwell sold 100,974 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This represents a 16.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,954 shares of company stock valued at $4,519,333 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

FHN has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Stephens reissued an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon Price Performance

NYSE FHN opened at $21.91 on Friday. 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 company has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $18.07. The company has a market cap of $11.62 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.22 and a beta of 0.92. First Horizon Co. has a 1 year low of $13.45 and a 1 year high of $22.11.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) 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 quarter in the prior year, the company posted $0.32 earnings per share. On average, sell-side analysts predict that First Horizon Co. will post 1.63 EPS for the current year.

First Horizon declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 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.