OneAscent Financial Services LLC lifted its position in First Horizon Co. (NYSE:FHN) by 23.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,895 shares of the financial services provider’s stock after acquiring an additional 5,928 shares during the period. OneAscent Financial Services LLC’s holdings in First Horizon were worth $394,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in First Horizon by 57.0% during the 3rd quarter. BlackRock Inc. now owns 53,106,577 shares of the financial services provider’s stock valued at $500,796,000 after buying an additional 19,273,731 shares in the last quarter. JPMorgan Chase & Co. grew its position in First Horizon by 86.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,308,609 shares of the financial services provider’s stock worth $150,365,000 after purchasing an additional 7,547,864 shares during the last quarter. State Street Corp boosted its holdings in shares of First Horizon by 60.1% in the 3rd quarter. State Street Corp now owns 19,109,272 shares of the financial services provider’s stock valued at $182,822,000 after acquiring an additional 7,173,674 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of First Horizon in the 3rd quarter valued at $35,763,000. Finally, Wells Fargo & Company MN raised its position in First Horizon by 316.6% during the third quarter. Wells Fargo & Company MN now owns 3,757,444 shares of the financial services provider’s stock worth $35,431,000 after acquiring an additional 2,855,601 shares during the period.
In other First Horizon news, Chairman Daryl G. Byrd sold 90,883 shares of First Horizon stock in a transaction on Thursday, January 7th. The stock was sold at an average price of $15.03, for a total value of $1,365,971.49. Following the completion of the transaction, the chairman now owns 1,524,021 shares in the company, valued at approximately $22,906,035.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Daryl G. Byrd sold 13,740 shares of First Horizon stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $15.17, for a total value of $208,435.80. Following the completion of the transaction, the chairman now owns 1,422,524 shares of the company’s stock, valued at approximately $21,579,689.08. The disclosure for this sale can be found here. Insiders sold a total of 171,526 shares of company stock worth $2,421,436 in the last ninety days. Insiders own 2.00% of the company’s stock.
Shares of FHN stock opened at $14.90 on Thursday. The stock has a 50-day simple moving average of $13.10 and a 200 day simple moving average of $10.77. First Horizon Co. has a fifty-two week low of $6.27 and a fifty-two week high of $17.40. The stock has a market capitalization of $8.27 billion, a P/E ratio of 9.74 and a beta of 1.54. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.
First Horizon (NYSE:FHN) last announced its quarterly earnings data on Friday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.18. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $853.23 million. First Horizon had a return on equity of 7.78% and a net margin of 23.18%. During the same period in the prior year, the business earned $0.43 EPS. On average, sell-side analysts anticipate that First Horizon Co. will post 0.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Friday, December 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Thursday, December 10th. First Horizon’s dividend payout ratio (DPR) is currently 36.14%.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of First Horizon from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, January 7th. Raymond James increased their target price on shares of First Horizon from $13.00 to $17.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 7th. TheStreet raised shares of First Horizon from a “c+” rating to a “b-” rating in a research report on Thursday, November 12th. Jefferies Financial Group raised shares of First Horizon from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, October 8th. Finally, Zacks Investment Research raised shares of First Horizon from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Tuesday, December 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. First Horizon currently has a consensus rating of “Buy” and an average target price of $13.15.
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 four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. It offers general banking services for consumers, businesses, financial institutions, and governments.
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