EverSource Wealth Advisors LLC Raises Position in First Horizon Co. (NYSE:FHN)

EverSource Wealth Advisors LLC lifted its stake in First Horizon Co. (NYSE:FHN) by 128.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,751 shares of the financial services provider’s stock after purchasing an additional 3,801 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in First Horizon were worth $136,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in First Horizon by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 559 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 571 shares in the last quarter. Independent Advisor Alliance lifted its stake in First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 632 shares during the period. Access Investment Management LLC lifted its stake in First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 675 shares during the period. Finally, CreativeOne Wealth LLC increased its position in First Horizon by 7.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 773 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Down 0.9 %

Shares of FHN stock opened at $18.86 on Tuesday. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm has a market capitalization of $9.84 billion, a PE ratio of 13.87, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $19.14.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm posted $0.32 earnings per share. Equities analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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 3.18%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Royal Bank of Canada upped 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. Wells Fargo & Company lifted their price target on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Citigroup upped their price objective on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Barclays lifted their target price on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.87% of the company’s stock.

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.