Lee Danner & Bass Inc. Purchases Shares of 2,474 First Horizon Co. (NYSE:FHN)

Lee Danner & Bass Inc. acquired a new position in shares of First Horizon Co. (NYSE:FHN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,474 shares of the financial services provider’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its position in shares of First Horizon by 31.4% during the 4th quarter. Teacher Retirement System of Texas now owns 201,416 shares of the financial services provider’s stock worth $4,057,000 after purchasing an additional 48,177 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of First Horizon during the 4th quarter worth about $122,000. FreeGulliver LLC bought a new position in shares of First Horizon during the 4th quarter worth about $2,036,000. Xponance Inc. boosted its position in shares of First Horizon by 4.8% during the 4th quarter. Xponance Inc. now owns 61,171 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 2,804 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of First Horizon by 53.2% during the 4th quarter. Intech Investment Management LLC now owns 644,742 shares of the financial services provider’s stock worth $12,985,000 after purchasing an additional 223,993 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction 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 approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

First Horizon Stock Up 0.2 %

Shares of NYSE:FHN opened at $19.26 on Friday. The firm has a fifty day moving average price of $20.80 and a two-hundred day moving average price of $19.19. 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 one year low of $13.72 and a one year high of $22.44. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced 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 in the prior year, the business posted $0.32 earnings per share. Analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FHN shares. Citigroup raised their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Royal Bank of Canada increased their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods increased their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Barclays increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group increased their price objective on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and an average price target of $22.23.

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.