Premier Fund Managers Ltd Purchases Shares of 30,770 First Horizon Co. (NYSE:FHN)

Premier Fund Managers Ltd acquired a new position in shares of First Horizon Co. (NYSE:FHN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,770 shares of the financial services provider’s stock, valued at approximately $620,000.

A number of other hedge funds have also modified their holdings of FHN. Versant Capital Management Inc raised its holdings in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co acquired a new position in shares of First Horizon during the 4th quarter worth about $32,000. True Wealth Design LLC acquired a new position in shares of First Horizon during the 3rd quarter worth about $36,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon in the fourth quarter valued at about $50,000. 80.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FHN has been the subject of a number of analyst reports. 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 note on Friday, January 17th. Barclays boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Stephens reiterated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, UBS Group initiated coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Stock Performance

NYSE FHN opened at $19.34 on Friday. The firm has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $19.28. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. The company has a market capitalization of $9.94 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the company earned $0.32 EPS. Analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 3.10%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 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.