Isthmus Partners LLC Buys 967 Shares of First Horizon Co. (NYSE:FHN)

Isthmus Partners LLC grew its stake in shares of First Horizon Co. (NYSE:FHN) by 4.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,572 shares of the financial services provider’s stock after acquiring an additional 967 shares during the period. Isthmus Partners LLC’s holdings in First Horizon were worth $475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. increased its holdings in shares of First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after acquiring an additional 285,108 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of First Horizon by 13.1% during 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 in the last quarter. Allen Capital Group LLC increased 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 valued at $817,000 after acquiring an additional 29,581 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of First Horizon during the fourth quarter valued at $304,000. Finally, Merit Financial Group LLC bought a new position in shares of First Horizon during the fourth quarter valued at $453,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FHN has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Barclays boosted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Citigroup boosted their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods boosted their target price on First Horizon from $23.00 to $24.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Trading Down 6.3 %

First Horizon stock opened at $17.69 on Tuesday. The business has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $19.06. The company has a market cap of $9.23 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. 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 (NYSE:FHN) last announced its quarterly earnings data 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 return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Analysts predict 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 3.39%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly 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 can be accessed through this link. 0.87% of the stock is currently owned by corporate 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.