Bleakley Financial Group LLC Boosts Stock Holdings in First Horizon Co. (NYSE:FHN)

Bleakley Financial Group LLC raised its stake in First Horizon Co. (NYSE:FHN) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,638 shares of the financial services provider’s stock after acquiring an additional 1,186 shares during the period. Bleakley Financial Group LLC’s holdings in First Horizon were worth $617,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its holdings in shares of First Horizon by 3.5% in the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 559 shares during the last quarter. Covestor Ltd grew its holdings in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares in the last quarter. CreativeOne Wealth LLC increased its stake in First Horizon by 7.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 773 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of First Horizon by 1.1% during the 4th quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider’s stock worth $1,592,000 after acquiring an additional 824 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of First Horizon by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 9,117 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling at First Horizon

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the director now owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FHN has been the topic of several research reports. Robert W. Baird set a $17.00 price target on shares of First Horizon in a research report on Thursday, October 17th. Evercore ISI upped their target price on shares of First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Raymond James lifted their target price on First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.04.

First Horizon Stock Down 0.3 %

NYSE:FHN opened at $22.33 on Monday. The stock has a fifty day simple moving average of $20.74 and a 200-day simple moving average of $18.28. 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 has a market cap of $11.84 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. First Horizon Co. has a twelve month low of $13.46 and a twelve month high of $22.43.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 posted $0.32 earnings per share. Analysts anticipate that First Horizon Co. will post 1.64 EPS for the current year.

First Horizon announced that its Board of Directors has authorized a share repurchase program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

First Horizon Dividend Announcement

The company also recently disclosed 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 is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.69%. First Horizon’s payout ratio is currently 44.12%.

First Horizon Company 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.