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

Keybank National Association OH raised its holdings in First Horizon Co. (NYSE:FHN) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,731 shares of the financial services provider’s stock after buying an additional 9,402 shares during the period. Keybank National Association OH’s holdings in First Horizon were worth $1,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised 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 worth $29,000 after acquiring an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in First Horizon in the fourth quarter valued at approximately $32,000. Covestor Ltd raised its holdings in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of First Horizon during the 3rd quarter worth approximately $36,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of NYSE FHN opened at $19.20 on Friday. 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 one year low of $13.72 and a one year high of $22.44. The firm has a market capitalization of $10.02 billion, a P/E ratio of 14.11, a PEG ratio of 1.19 and a beta of 0.86. The company’s fifty day moving average is $21.16 and its two-hundred day moving average is $18.98.

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

First Horizon Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.13%. First Horizon’s dividend payout ratio is presently 44.12%.

Insiders Place Their Bets

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 transaction of $2,323,877.40. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Stephens reiterated an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Barclays raised their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, UBS Group initiated coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.