Argent Trust Co Raises Holdings in First Horizon Co. (NYSE:FHN)

Argent Trust Co raised its position in shares of First Horizon Co. (NYSE:FHN) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,815 shares of the financial services provider’s stock after acquiring an additional 1,210 shares during the period. Argent Trust Co’s holdings in First Horizon were worth $480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the fourth quarter worth $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the 4th quarter valued at $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on FHN. Keefe, Bruyette & Woods boosted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.30.

First Horizon Trading Down 0.1 %

NYSE FHN opened at $16.92 on Friday. 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 Co. has a one year low of $13.72 and a one year high of $22.44. The company has a 50-day simple moving average of $19.72 and a 200-day simple moving average of $19.46. The firm has a market capitalization of $8.70 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN) last issued its 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, equities analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.55%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

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.