First Horizon Co. (NYSE:FHN) Position Increased by AMG National Trust Bank

AMG National Trust Bank grew its holdings in First Horizon Co. (NYSE:FHN) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,960 shares of the financial services provider’s stock after acquiring an additional 10,340 shares during the period. AMG National Trust Bank’s holdings in First Horizon were worth $2,054,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FHN. Citigroup Inc. increased its position in First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after acquiring an additional 285,108 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of First Horizon by 13.1% in the third quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after acquiring an additional 100,359 shares during the last quarter. Allen Capital Group LLC grew its holdings in shares of First Horizon by 128.4% during the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 29,581 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in First Horizon during the 4th quarter worth about $304,000. Finally, Merit Financial Group LLC acquired a new stake in shares of First Horizon in the fourth quarter valued at approximately $453,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of NYSE:FHN opened at $18.93 on Friday. The firm has a market capitalization of $9.87 billion, a PE ratio of 13.92, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $21.14 and a two-hundred day moving average price of $18.98. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44.

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

First Horizon Dividend Announcement

The business 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 is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. First Horizon’s payout ratio is 44.12%.

Analysts Set New Price Targets

A number of research firms recently commented on FHN. Bank of America upped their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. Barclays increased their price objective on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company boosted their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Stephens reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Finally, UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was 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 in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by insiders.

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.