B. Metzler seel. Sohn & Co. AG Acquires Shares of 34,327 First Horizon Co. (NYSE:FHN)

B. Metzler seel. Sohn & Co. AG bought a new position in First Horizon Co. (NYSE:FHN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,327 shares of the financial services provider’s stock, valued at approximately $691,000.

A number of other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position 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 valued at $29,000 after acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new position in First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon in the 4th quarter worth $32,000. Lee Danner & Bass Inc. bought a new stake in shares of First Horizon in the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of First Horizon by 335.6% during the 4th 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 hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on 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 transaction, the chief executive officer now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by insiders.

First Horizon Trading Down 6.1 %

FHN opened at $16.16 on Friday. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The company has a market capitalization of $8.31 billion, a P/E ratio of 11.88, a PEG ratio of 1.19 and a beta of 0.86. The stock’s fifty day moving average is $20.36 and its two-hundred day moving average is $19.40. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

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

First Horizon Dividend Announcement

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

Analyst Ratings Changes

FHN has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Raymond James decreased their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their target price 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. Finally, Bank of America lifted their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company 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.