Johnson Investment Counsel Inc. Boosts Stock Position in First Horizon Co. (NYSE:FHN)

Johnson Investment Counsel Inc. grew its holdings in shares of First Horizon Co. (NYSE:FHN) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,661,592 shares of the financial services provider’s stock after buying an additional 72,339 shares during the period. Johnson Investment Counsel Inc. owned 0.50% of First Horizon worth $53,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in FHN. Isthmus Partners LLC increased its stake in First Horizon by 4.3% in the fourth quarter. Isthmus Partners LLC now owns 23,572 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 967 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Horizon by 12.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,725 shares of the financial services provider’s stock valued at $2,613,000 after acquiring an additional 14,017 shares in the last quarter. Amundi grew its holdings in shares of First Horizon by 255.6% during the fourth quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock worth $77,104,000 after purchasing an additional 2,683,746 shares during the last quarter. AMG National Trust Bank increased its position in shares of First Horizon by 11.3% during the fourth quarter. AMG National Trust Bank now owns 101,960 shares of the financial services provider’s stock worth $2,054,000 after purchasing an additional 10,340 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in shares of First Horizon in the 4th quarter valued at about $338,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Performance

NYSE FHN opened at $18.93 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $21.11 and its two-hundred day moving average is $19.05. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.92, a PEG 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 announced its quarterly earnings data 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 return on equity of 10.10% and a net margin of 15.38%. During the same quarter last year, the firm earned $0.32 EPS. Research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.17%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analyst Ratings Changes

FHN has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Barclays lifted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Bank of America increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. UBS Group started coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

First Horizon 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.