12,026 Shares in First Horizon Co. (NYSE:FHN) Acquired by denkapparat Operations GmbH

denkapparat Operations GmbH purchased a new stake in First Horizon Co. (NYSE:FHN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 12,026 shares of the financial services provider’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of First Horizon by 26.2% in 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 during the last quarter. Norges Bank acquired a new position in shares of First Horizon in the 4th quarter valued at $132,418,000. Raymond James Financial Inc. acquired a new stake in First Horizon during the 4th quarter worth about $102,467,000. State Street Corp raised its holdings in First Horizon by 18.6% during the 3rd 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 period. Finally, JPMorgan Chase & Co. lifted 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 and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

FHN has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barclays increased their target price on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods lifted their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased 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. Finally, UBS Group started coverage on First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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 that occurred on Wednesday, January 22nd. The shares were 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 owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

FHN stock opened at $19.24 on Friday. The firm has a 50 day moving average of $20.65 and a two-hundred day moving average of $19.30. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.19 and a beta of 0.86. 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 posted its earnings results 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 net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

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

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.