bLong Financial LLC Takes $207,000 Position in First Horizon Co. (NYSE:FHN)

bLong Financial LLC bought a new stake in First Horizon Co. (NYSE:FHN) during the 4th quarter, HoldingsChannel reports. The firm bought 10,255 shares of the financial services provider’s stock, valued at approximately $207,000.

Other institutional investors have also modified their holdings of the company. CapWealth Advisors LLC boosted its position in First Horizon by 46.8% during the fourth quarter. CapWealth Advisors LLC now owns 18,803 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 5,997 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its position in First Horizon by 8.0% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 14,254 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 1,051 shares during the last quarter. Kentucky Trust Co acquired a new position in First Horizon during the fourth quarter worth about $32,000. L. Roy Papp & Associates LLP acquired a new position in First Horizon during the fourth quarter worth about $905,000. Finally, Salzhauer Michael boosted its position in First Horizon by 10.7% during the fourth quarter. Salzhauer Michael now owns 258,618 shares of the financial services provider’s stock worth $5,209,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Up 0.5 %

Shares of FHN stock opened at $22.11 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. The stock has a market capitalization of $11.72 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company has a 50 day moving average price of $20.89 and a 200 day moving average price of $18.45. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 in the previous year, the company earned $0.32 earnings per share. Equities research analysts predict that First Horizon Co. will post 1.64 EPS for the current fiscal year.

First Horizon declared that its board has approved a stock repurchase program on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

First Horizon Dividend Announcement

The firm 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada lifted their target price 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. Evercore ISI lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.04.

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.