Versor Investments LP Buys New Shares in First Horizon Co. (NYSE:FHN)

Versor Investments LP bought a new position in shares of First Horizon Co. (NYSE:FHN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,600 shares of the financial services provider’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FHN. Bank of New York Mellon Corp grew its holdings in shares of First Horizon by 26.2% during 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 purchasing an additional 7,715,191 shares in the last quarter. State Street Corp lifted its position in First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after purchasing an additional 4,116,486 shares during the period. Point72 Asset Management L.P. acquired a new stake in First Horizon during the third quarter worth $39,242,000. Barclays PLC increased its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after buying an additional 1,185,772 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of First Horizon in the 3rd quarter valued at $7,797,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Trading Down 3.0 %

FHN stock opened at $20.89 on Tuesday. 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 Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The company has a market cap of $11.07 billion, a P/E ratio of 15.36, a PEG ratio of 1.19 and a beta of 0.92. The business has a fifty day moving average of $21.18 and a 200-day moving average of $18.95.

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, 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 quarter in the previous year, the company posted $0.32 earnings per share. As a group, equities research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.87%. First Horizon’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada lifted their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Stephens reissued an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Citigroup boosted their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Finally, UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They set 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 assigned a buy rating to the company. According to MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.