Amundi Increases Holdings in First Horizon Co. (NYSE:FHN)

Amundi lifted its position in shares of First Horizon Co. (NYSE:FHN) by 255.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,733,831 shares of the financial services provider’s stock after acquiring an additional 2,683,746 shares during the quarter. Amundi’s holdings in First Horizon were worth $77,104,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. AMG National Trust Bank lifted its stake in First Horizon by 11.3% in the 4th quarter. AMG National Trust Bank now owns 101,960 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 10,340 shares in the last quarter. Callan Family Office LLC purchased a new stake in First Horizon in the 4th quarter valued at approximately $338,000. Raymond James Financial Inc. purchased a new stake in First Horizon in the 4th quarter valued at approximately $102,467,000. Proficio Capital Partners LLC purchased a new stake in First Horizon in the 4th quarter valued at approximately $2,589,000. Finally, Atria Investments Inc purchased a new stake in First Horizon in the 4th quarter valued at approximately $442,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Bank of America upped their target price on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Barclays upped 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Insider Buying and Selling

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

First Horizon Stock Performance

Shares of First Horizon stock opened at $18.22 on Wednesday. The firm has a market cap of $9.50 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The firm’s 50-day simple moving average is $21.02 and its 200-day simple moving average is $19.07. 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 1 year low of $13.72 and a 1 year high of $22.44.

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

First Horizon Announces Dividend

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 paid 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 3.29%. First Horizon’s dividend payout ratio (DPR) 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.