First Horizon Co. (NYSE:FHN) Stake Increased by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in First Horizon Co. (NYSE:FHN) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,577 shares of the financial services provider’s stock after purchasing an additional 2,687 shares during the period. Natixis Advisors LLC owned approximately 0.06% of First Horizon worth $6,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FHN. Versant Capital Management Inc increased its stake in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of First Horizon in the fourth quarter worth $30,000. Kentucky Trust Co acquired a new position in shares of First Horizon in the fourth quarter worth $32,000. True Wealth Design LLC acquired a new position in shares of First Horizon in the third quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Trading Up 0.2 %

Shares of NYSE:FHN opened at $19.26 on Friday. The company has a market cap of $9.90 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.19 and a beta of 0.86. The stock’s 50-day moving average is $20.80 and its 200-day moving average is $19.17. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. 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 (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $0.32 EPS. Equities research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced 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 dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated 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 owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Bank of America upped their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Stephens reissued an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.