FreeGulliver LLC Acquires New Position in First Horizon Co. (NYSE:FHN)

FreeGulliver LLC acquired a new stake in First Horizon Co. (NYSE:FHN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 101,093 shares of the financial services provider’s stock, valued at approximately $2,036,000. First Horizon accounts for about 1.0% of FreeGulliver LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in FHN. Citigroup Inc. lifted its position in shares of First Horizon by 43.0% during the 3rd 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 during the period. Allen Capital Group LLC lifted its position in shares of First Horizon by 128.4% during the 3rd 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 during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of First Horizon during the 4th quarter valued at approximately $304,000. Merit Financial Group LLC acquired a new stake in shares of First Horizon during the 4th quarter valued at approximately $453,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of First Horizon during the 4th quarter valued at approximately $1,813,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

FHN has been the subject of a number of research reports. Bank of America lifted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Stephens restated an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Stock Down 0.2 %

FHN stock opened at $18.82 on Wednesday. The stock has a market capitalization of $9.82 billion, a P/E ratio of 13.83, a PEG ratio of 1.19 and a beta of 0.86. 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 one year low of $13.72 and a one year high of $22.44. The company has a 50 day moving average price of $20.88 and a two-hundred day moving average price of $19.16.

First Horizon (NYSE:FHN) last released its earnings results 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 previous year, the company posted $0.32 earnings per share. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

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 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 dividend yield of 3.19%. First Horizon’s dividend payout ratio is presently 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.