First Horizon Co. (NYSE:FHN) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its position in First Horizon Co. (NYSE:FHN) by 53.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 644,742 shares of the financial services provider’s stock after acquiring an additional 223,993 shares during the period. Intech Investment Management LLC’s holdings in First Horizon were worth $12,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. KBC Group NV increased its position in shares of First Horizon by 240.5% in the 3rd quarter. KBC Group NV now owns 47,724 shares of the financial services provider’s stock valued at $741,000 after purchasing an additional 33,708 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of First Horizon by 3.5% in 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 during the last quarter. Thrivent Financial for Lutherans increased its position in shares of First Horizon by 106.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 622,481 shares of the financial services provider’s stock valued at $9,668,000 after purchasing an additional 321,098 shares during the last quarter. AMG National Trust Bank grew its position in shares of First Horizon by 106.0% in the 3rd quarter. AMG National Trust Bank now owns 91,620 shares of the financial services provider’s stock valued at $1,423,000 after buying an additional 47,152 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of First Horizon by 133.6% in the 3rd quarter. Quest Partners LLC now owns 161,046 shares of the financial services provider’s stock valued at $2,501,000 after buying an additional 92,106 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FHN. UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Keefe, Bruyette & Woods increased 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. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

First Horizon Stock Performance

Shares of FHN opened at $18.86 on Tuesday. The company has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $19.14. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company 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. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm posted $0.32 earnings per share. Equities research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.18%. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

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.