KBC Group NV Has $3.36 Million Holdings in First Horizon Co. (NYSE:FHN)

KBC Group NV grew its holdings in First Horizon Co. (NYSE:FHN) by 249.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,961 shares of the financial services provider’s stock after buying an additional 119,237 shares during the period. KBC Group NV’s holdings in First Horizon were worth $3,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. boosted its position in First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after purchasing an additional 285,108 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of First Horizon by 13.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock worth $13,482,000 after buying an additional 100,359 shares during the period. Allen Capital Group LLC grew its stake in First Horizon by 128.4% in the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after buying an additional 29,581 shares during the last quarter. Merit Financial Group LLC bought a new position in First Horizon in the 4th quarter valued at about $453,000. Finally, Greenwood Capital Associates LLC boosted its holdings in shares of First Horizon by 10.1% during the third quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock worth $7,229,000 after acquiring an additional 42,793 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Trading Down 0.1 %

Shares of FHN opened at $21.91 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a 52-week low of $13.45 and a 52-week high of $22.11. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.22 and a beta of 0.92. The business’s fifty day moving average is $20.66 and its 200-day moving average is $18.06.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping 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 quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts anticipate that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon announced that its board has authorized a share buyback 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 purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

Insider Buying and Selling at First Horizon

In related news, EVP David T. Popwell sold 100,974 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares of the company’s stock, valued at $10,278,937.02. This trade represents a 16.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the sale, the director now owns 166,840 shares in the company, valued at $3,323,452.80. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,954 shares of company stock worth $4,519,333 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America increased their target price on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada lifted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Evercore ISI upped their price target on shares of First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Finally, Barclays increased their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.04.

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.