Thoroughbred Financial Services LLC Buys 676 Shares of First Horizon Co. (NYSE:FHN)

Thoroughbred Financial Services LLC boosted its stake in shares of First Horizon Co. (NYSE:FHN) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,621 shares of the financial services provider’s stock after buying an additional 676 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in First Horizon were worth $294,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter valued at $30,000. Kentucky Trust Co bought a new stake in shares of First Horizon in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. bought a new position in First Horizon during the fourth quarter worth $50,000. Finally, Farther Finance Advisors LLC raised its stake in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 6.1 %

FHN opened at $16.16 on Monday. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm has a market capitalization of $8.31 billion, a PE ratio of 11.88, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company’s 50-day moving average is $20.36 and its 200 day moving average is $19.45.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analysts Set New Price Targets

FHN has been the subject of a number of recent analyst reports. Raymond James decreased their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Finally, UBS Group assumed coverage on shares of First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average price target of $22.23.

Insiders Place Their Bets

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm’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 transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.

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.