First Horizon Co. (NYSE:FHN) Holdings Boosted by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its holdings in First Horizon Co. (NYSE:FHN) by 700.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,320,187 shares of the financial services provider’s stock after purchasing an additional 1,155,187 shares during the period. ExodusPoint Capital Management LP owned approximately 0.25% of First Horizon worth $26,589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Townsquare Capital LLC purchased a new position in First Horizon during the 3rd quarter valued at about $231,000. CreativeOne Wealth LLC boosted its holdings in shares of First Horizon by 7.1% during the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 773 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of First Horizon by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,708 shares of the financial services provider’s stock worth $1,797,000 after purchasing an additional 2,707 shares during the period. Captrust Financial Advisors grew its position in First Horizon by 3.1% during the third quarter. Captrust Financial Advisors now owns 169,654 shares of the financial services provider’s stock valued at $2,635,000 after purchasing an additional 5,022 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in First Horizon in the 3rd quarter valued at approximately $398,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by company insiders.

First Horizon Stock Performance

Shares of FHN opened at $19.64 on Thursday. The company has a market capitalization of $10.10 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The company’s fifty day moving average price is $20.53 and its 200 day moving average price is $19.41.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 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 period last year, the firm earned $0.32 EPS. As a group, analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.05%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analysts Set New Price Targets

Several research firms have recently commented on FHN. Bank of America boosted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Raymond James reduced their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.23.

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.