New Age Alpha Advisors LLC Purchases New Holdings in First Horizon Co. (NYSE:FHN)

New Age Alpha Advisors LLC acquired a new position in First Horizon Co. (NYSE:FHN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 304,771 shares of the financial services provider’s stock, valued at approximately $6,138,000. New Age Alpha Advisors LLC owned 0.06% of First Horizon as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares during the period. Cerity Partners LLC increased its stake in shares of First Horizon by 44.9% in the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock worth $1,779,000 after acquiring an additional 35,479 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of First Horizon by 18.5% in the third quarter. Fisher Asset Management LLC now owns 242,684 shares of the financial services provider’s stock worth $3,769,000 after acquiring an additional 37,939 shares during the last quarter. Independent Advisor Alliance boosted its position in First Horizon by 3.9% during the third quarter. Independent Advisor Alliance now owns 57,098 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 2,157 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in First Horizon in the third quarter valued at about $92,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FHN has been the subject of a number of recent research reports. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price target on 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 upped their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 owns 1,861,381 shares of the company’s stock, valued at approximately $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 owned by corporate insiders.

First Horizon Stock Down 1.3 %

NYSE:FHN opened at $19.34 on Friday. The stock’s fifty day moving average price is $20.69 and its two-hundred day moving average price is $19.28. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 14.22, 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. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

About First Horizon

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.