Gries Financial LLC Has $315,000 Holdings in First Horizon Co. (NYSE:FHN)

Gries Financial LLC lifted its stake in First Horizon Co. (NYSE:FHN) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,641 shares of the financial services provider’s stock after buying an additional 1,076 shares during the period. Gries Financial LLC’s holdings in First Horizon were worth $315,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares in the last quarter. Covestor Ltd boosted its holdings in shares of First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of First Horizon in the 3rd quarter valued at approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on FHN. Stephens reiterated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Bank of America raised their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada boosted their price target on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Keefe, Bruyette & Woods raised their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird set a $17.00 target price on First Horizon in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.04.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now owns 166,840 shares in the company, valued at $3,323,452.80. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,954 shares of company stock valued at $4,519,333 over the last 90 days. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Up 2.0 %

FHN stock opened at $21.94 on Friday. First Horizon Co. has a fifty-two week low of $13.45 and a fifty-two week high of $22.10. 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 stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.19 and a beta of 0.92. The business’s fifty day moving average price is $20.64 and its two-hundred day moving average price is $18.03.

First Horizon (NYSE:FHN) last released 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 net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the business earned $0.32 EPS. On average, equities analysts anticipate that First Horizon Co. will post 1.63 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

First Horizon declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.