Headlands Technologies LLC Acquires 30,206 Shares of First Horizon Co. (NYSE:FHN)

Headlands Technologies LLC lifted its stake in First Horizon Co. (NYSE:FHN) by 505.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,178 shares of the financial services provider’s stock after acquiring an additional 30,206 shares during the period. Headlands Technologies LLC’s holdings in First Horizon were worth $729,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FHN. Versant Capital Management Inc boosted its stake in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares during the period. Jones Financial Companies Lllp bought a new position in shares of First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in First Horizon during the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new stake in First Horizon during the 4th quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC lifted its stake in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 591 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $2,323,877.40. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

First Horizon Stock Up 2.6 %

Shares of NYSE:FHN opened at $19.64 on Thursday. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $20.53 and its 200-day moving average price is $19.41. The stock has a market capitalization of $10.10 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping 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 in the previous year, the company posted $0.32 EPS. On average, equities analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.05%. First Horizon’s payout ratio is currently 44.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Bank of America raised their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.