denkapparat Operations GmbH Buys Shares of 12,026 First Horizon Co. (NYSE:FHN)

denkapparat Operations GmbH purchased a new position in shares of First Horizon Co. (NYSE:FHN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,026 shares of the financial services provider’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 7,715,191 shares in the last quarter. Norges Bank acquired a new position in First Horizon in the fourth quarter worth about $132,418,000. Raymond James Financial Inc. acquired a new position in First Horizon in the fourth quarter worth about $102,467,000. State Street Corp increased its holdings in First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after buying an additional 4,116,486 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after buying an additional 3,400,811 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

FHN has been the subject of a number of research analyst reports. Bank of America boosted their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Royal Bank of Canada increased their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, UBS Group began coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’s 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 sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

First Horizon Trading Down 0.2 %

Shares of FHN stock opened at $19.24 on Friday. The firm has a market capitalization of $9.89 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. 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 fifty day moving average of $20.65 and a two-hundred day moving average of $19.30.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 posted $0.32 earnings per share. As a group, research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.12%. First Horizon’s payout ratio is 44.12%.

About First Horizon

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.