Carlson Capital L.P. Invests $1.09 Million in First Horizon Co. (NYSE:FHN)

Carlson Capital L.P. bought a new position 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 bought 54,300 shares of the financial services provider’s stock, valued at approximately $1,094,000. First Horizon makes up 0.6% of Carlson Capital L.P.’s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after buying an additional 7,715,191 shares during the last quarter. State Street Corp boosted its holdings in shares of First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after buying an additional 4,116,486 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of First Horizon by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after buying an additional 61,397 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of First Horizon in the 3rd quarter worth about $39,242,000. Finally, Barclays PLC boosted its holdings in shares of First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock worth $29,301,000 after buying an additional 1,185,772 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Trading Up 1.3 %

Shares of First Horizon stock opened at $20.94 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 market cap of $11.10 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.19 and a beta of 0.92. 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 company’s 50-day moving average price is $21.10 and its 200-day moving average price is $18.80.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 period in the previous year, the business earned $0.32 EPS. On average, equities analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is 44.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FHN shares. The Goldman Sachs Group upped their price objective on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Raymond James upped their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.04.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by company insiders.

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.