First Horizon Co. (NYSE:FHN) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in shares of First Horizon Co. (NYSE:FHN) by 237.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 818,345 shares of the financial services provider’s stock after purchasing an additional 575,661 shares during the period. Fisher Asset Management LLC owned 0.15% of First Horizon worth $16,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in First Horizon by 160.1% during 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 period. Kentucky Trust Co purchased a new stake in First Horizon during the fourth quarter worth approximately $32,000. Covestor Ltd grew its stake in First Horizon by 44.0% during 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 period. True Wealth Design LLC purchased a new stake in First Horizon during the third quarter worth approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in First Horizon by 335.6% during 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 period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group boosted their price objective on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped 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 note on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the 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 sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This 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 available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Trading Down 3.0 %

FHN opened at $20.89 on Tuesday. The stock has a market capitalization of $11.07 billion, a PE ratio of 15.36, a P/E/G ratio of 1.19 and a beta of 0.92. The firm’s fifty day moving average price is $21.18 and its 200 day moving average price is $18.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44.

First Horizon (NYSE:FHN) last posted its quarterly 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 net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the firm earned $0.32 EPS. As a group, research analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared 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 is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.87%. First Horizon’s dividend payout ratio is presently 44.12%.

About First Horizon

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.