Chicago Partners Investment Group LLC Invests $208,000 in First Horizon Co. (NYSE:FHN)

Chicago Partners Investment Group LLC purchased a new stake in First Horizon Co. (NYSE:FHN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,079 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in First Horizon by 18.6% during the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after purchasing an additional 4,116,486 shares during the period. Geode Capital Management LLC lifted its holdings in shares of First Horizon by 0.7% in the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after purchasing an additional 61,397 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in First Horizon during the 3rd quarter valued at $39,242,000. Barclays PLC lifted its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after purchasing an additional 1,185,772 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after buying an additional 285,108 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Activity

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the transaction, the director now directly owns 166,840 shares in the company, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Up 1.3 %

Shares of First Horizon stock opened at $22.06 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 1-year low of $13.45 and a 1-year high of $22.10. The business has a 50-day moving average of $20.70 and a 200-day moving average of $18.18. The company has a market capitalization of $11.69 billion, a PE ratio of 16.22, a P/E/G ratio of 1.24 and a beta of 0.92.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.32 EPS. As a group, equities analysts forecast that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FHN shares. The Goldman Sachs Group lifted their price objective on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Barclays upped their price objective on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Stephens reiterated an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Finally, Bank of America increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.04.

First Horizon 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.