First Horizon Co. (NYSE:FHN) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its holdings in shares of First Horizon Co. (NYSE:FHN) by 30.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 55,387 shares of the financial services provider’s stock after purchasing an additional 12,944 shares during the period. Orion Portfolio Solutions LLC’s holdings in First Horizon were worth $1,115,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after buying an additional 3,400,811 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of First Horizon in the fourth quarter valued at about $304,000. Merit Financial Group LLC acquired a new position in First Horizon during the fourth quarter worth about $453,000. Smith Group Asset Management LLC acquired a new stake in shares of First Horizon during the 4th quarter valued at approximately $1,813,000. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of First Horizon by 2.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after acquiring an additional 72,339 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group began coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. Wells Fargo & Company upped their price target on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Barclays raised their price objective on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Keefe, Bruyette & Woods boosted their target price 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 given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Stock Performance

Shares of FHN stock opened at $16.16 on Friday. The company’s fifty day moving average price is $20.36 and its two-hundred day moving average price is $19.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $8.31 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44.

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

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.71%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

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.