Keybank National Association OH Boosts Stake in First Horizon Co. (NYSE:FHN)

Keybank National Association OH increased its holdings in shares of First Horizon Co. (NYSE:FHN) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,731 shares of the financial services provider’s stock after acquiring an additional 9,402 shares during the quarter. Keybank National Association OH’s holdings in First Horizon were worth $1,787,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after purchasing an additional 7,715,191 shares during the last quarter. State Street Corp boosted its stake in First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after buying an additional 4,116,486 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in First Horizon during the third quarter worth $39,242,000. Barclays PLC grew its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after buying an additional 1,185,772 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of First Horizon by 237.2% in the 4th quarter. Fisher Asset Management LLC now owns 818,345 shares of the financial services provider’s stock worth $16,481,000 after acquiring an additional 575,661 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FHN. Keefe, Bruyette & Woods increased their price target 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. UBS Group started coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. Bank of America lifted their target price on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Finally, The Goldman Sachs Group raised their price objective on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling

In other 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 value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by insiders.

First Horizon Stock Down 3.3 %

Shares of FHN opened at $19.20 on Friday. The company’s 50-day simple moving average is $21.16 and its 200-day simple moving average is $18.98. 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 Co. has a 1 year low of $13.72 and a 1 year high of $22.44. The stock has a market capitalization of $10.02 billion, a PE ratio of 14.11, a P/E/G ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 firm posted $0.32 EPS. Analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.13%. First Horizon’s payout ratio is 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.