5,000 Shares in First Horizon Co. (NYSE:FHN) Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC bought a new stake in First Horizon Co. (NYSE:FHN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the financial services provider’s stock, valued at approximately $101,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 884 shares during the period. Kentucky Trust Co purchased a new position in shares of First Horizon in the fourth quarter worth about $32,000. Covestor Ltd raised its position in shares of First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 651 shares during the period. True Wealth Design LLC purchased a new stake in shares of First Horizon during the 3rd quarter valued at approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in First Horizon by 335.6% in the 4th 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 period. 80.28% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’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 value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on FHN. Bank of America boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group initiated coverage on First Horizon in a research note on Tuesday, December 17th. They issued 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 company a “neutral” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.04.

First Horizon Price Performance

Shares of NYSE:FHN opened at $20.85 on Monday. The company’s fifty day moving average price is $21.04 and its 200-day moving average price is $18.70. 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 firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.19 and a beta of 0.92. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44.

First Horizon (NYSE:FHN) last released its quarterly earnings results 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 return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the business earned $0.32 EPS. On average, equities research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 2.88%. First Horizon’s dividend payout ratio is currently 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.