NFC Investments LLC Has $9.99 Million Stock Position in First Horizon Co. (NYSE:FHN)

NFC Investments LLC lessened its holdings in shares of First Horizon Co. (NYSE:FHN) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 496,175 shares of the financial services provider’s stock after selling 900 shares during the quarter. First Horizon accounts for approximately 2.8% of NFC Investments LLC’s holdings, making the stock its 14th largest holding. NFC Investments LLC’s holdings in First Horizon were worth $9,993,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. raised its stake in First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after buying an additional 285,108 shares during the period. Allen Capital Group LLC raised its stake in First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock worth $817,000 after buying an additional 29,581 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in First Horizon during the 4th quarter worth $304,000. Merit Financial Group LLC acquired a new stake in First Horizon during the 4th quarter worth $453,000. Finally, Smith Group Asset Management LLC acquired a new stake in First Horizon during the 4th quarter worth $1,813,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Price Performance

Shares of NYSE FHN opened at $19.02 on Monday. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.19 and a beta of 0.86. The business has a 50-day moving average of $20.94 and a 200-day moving average of $19.12. 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 fifty-two week low of $13.72 and a fifty-two week high of $22.44.

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, 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 in the previous year, the company earned $0.32 earnings per share. As a group, sell-side analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

Wall Street Analysts Forecast Growth

FHN has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective 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. Barclays lifted their price target on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods lifted their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, First Horizon currently has a consensus 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.