Sage Rhino Capital LLC Invests $201,000 in First Horizon Co. (NYSE:FHN)

Sage Rhino Capital LLC acquired a new stake in First Horizon Co. (NYSE:FHN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,999 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently added to or reduced their stakes in FHN. State of Alaska Department of Revenue boosted its position in First Horizon by 2.7% during the third quarter. State of Alaska Department of Revenue now owns 62,253 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 1,625 shares in the last quarter. Stephens Inc. AR boosted its position in shares of First Horizon by 6.1% in the 3rd quarter. Stephens Inc. AR now owns 165,629 shares of the financial services provider’s stock worth $2,572,000 after buying an additional 9,458 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in First Horizon by 127.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 105,866 shares of the financial services provider’s stock valued at $1,644,000 after acquiring an additional 59,258 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in First Horizon by 10.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock valued at $7,229,000 after acquiring an additional 42,793 shares in the last quarter. Finally, Radnor Capital Management LLC acquired a new position in First Horizon during the third quarter worth about $587,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James increased their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group initiated coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group upped 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. Finally, Royal Bank of Canada lifted their price objective on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Insider Activity at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by insiders.

First Horizon Trading Down 3.0 %

NYSE FHN opened at $20.89 on Tuesday. The company has a 50-day moving average of $21.18 and a 200-day moving average of $18.95. 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 12 month low of $13.72 and a 12 month high of $22.44. The company has a market cap of $11.07 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.19 and a beta of 0.92.

First Horizon (NYSE:FHN) last issued its quarterly 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 net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the business earned $0.32 earnings per share. As a group, equities analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

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.