3,457 Shares in First Horizon Co. (NYSE:FHN) Bought by BankPlus Trust Department

BankPlus Trust Department purchased a new position in First Horizon Co. (NYSE:FHN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,457 shares of the financial services provider’s stock, valued at approximately $70,000.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after buying an additional 884 shares during the last quarter. Kentucky Trust Co bought a new stake in First Horizon in the fourth quarter worth $32,000. Covestor Ltd lifted its position in First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after buying an additional 651 shares during the last quarter. True Wealth Design LLC bought a new stake in First Horizon in the third quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after buying an additional 2,000 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Horizon

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stephens restated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. UBS Group initiated coverage on First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price for the company. JPMorgan Chase & Co. lifted their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays lifted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon Stock Performance

FHN stock opened at $20.66 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The business has a 50-day moving average price of $21.05 and a 200 day moving average price of $18.74. The company has a market capitalization of $10.95 billion, a P/E ratio of 15.19, a PEG ratio of 1.19 and a beta of 0.92. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44.

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

First Horizon announced that its Board of Directors has authorized a share buyback program on Tuesday, October 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.90%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

First Horizon Company 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.