Envision Financial Planning LLC Makes New Investment in First Horizon Co. (NYSE:FHN)

Envision Financial Planning LLC bought a new stake in shares of First Horizon Co. (NYSE:FHN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,117 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FHN. Bank of New York Mellon Corp boosted its position in First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after buying an additional 61,397 shares during the last quarter. Norges Bank bought a new stake in shares of First Horizon in the 4th quarter valued at about $132,418,000. JPMorgan Chase & Co. boosted its holdings in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after buying an additional 3,400,811 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of First Horizon in the 4th quarter worth approximately $102,467,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FHN has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday. Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average target price of $22.30.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction 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 $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Down 0.1 %

FHN stock opened at $16.92 on Friday. The company has a market capitalization of $8.70 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The firm’s fifty day simple moving average is $19.72 and its 200-day simple moving average is $19.46. 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 (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the business earned $0.32 EPS. As a group, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

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

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.