11,404 Shares in First Horizon Co. (NYSE:FHN) Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co bought a new stake in shares of First Horizon Co. (NYSE:FHN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 11,404 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of First Horizon by 44.9% in the 3rd quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock valued at $1,779,000 after purchasing an additional 35,479 shares during the last quarter. BNP Paribas Financial Markets increased its stake in First Horizon by 590.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 517,625 shares of the financial services provider’s stock valued at $8,039,000 after purchasing an additional 442,686 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of First Horizon in the third quarter worth $231,000. CreativeOne Wealth LLC lifted its stake in shares of First Horizon by 7.1% during the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after buying an additional 773 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Horizon by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,708 shares of the financial services provider’s stock valued at $1,797,000 after buying an additional 2,707 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FHN shares. Stephens restated an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Royal Bank of Canada lifted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Barclays increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Citigroup lifted their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Bank of America increased their price objective 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. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Stock Down 0.2 %

FHN stock opened at $19.24 on Monday. The firm’s fifty day moving average is $20.65 and its 200 day moving average is $19.36. The firm has a market cap of $9.89 billion, a PE ratio of 14.14, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. 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 (NYSE:FHN) last posted 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 quarter in the previous year, the firm posted $0.32 EPS. On average, research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

First Horizon Company 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.