Moors & Cabot Inc. Raises Stake in First Horizon Co. (NYSE:FHN)

Moors & Cabot Inc. boosted its holdings in First Horizon Co. (NYSE:FHN) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,800 shares of the financial services provider’s stock after purchasing an additional 2,450 shares during the quarter. Moors & Cabot Inc.’s holdings in First Horizon were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance grew its stake in shares of First Horizon by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 632 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of First Horizon by 2.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after acquiring an additional 72,339 shares during the last quarter. Isthmus Partners LLC increased its holdings in shares of First Horizon by 4.3% during the fourth quarter. Isthmus Partners LLC now owns 23,572 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 967 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Horizon by 12.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,725 shares of the financial services provider’s stock worth $2,613,000 after purchasing an additional 14,017 shares during the last quarter. Finally, Amundi boosted its stake in First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock worth $77,104,000 after purchasing an additional 2,683,746 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of NYSE FHN opened at $19.02 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The firm has a 50 day moving average of $20.94 and a 200 day moving average of $19.08.

First Horizon (NYSE:FHN) last posted 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 last year, the business posted $0.32 earnings per share. On average, research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 3.16%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

Analyst Upgrades and Downgrades

FHN has been the subject of a number of analyst reports. Bank of America raised their price objective 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. Keefe, Bruyette & Woods boosted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, UBS Group began coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on 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 owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

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.