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

Fisher Asset Management LLC grew its holdings in shares of First Horizon Co. (NYSE:FHN) by 237.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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’s holdings in First Horizon were worth $16,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after acquiring an additional 7,715,191 shares during the period. State Street Corp increased its holdings in shares of First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after acquiring an additional 4,116,486 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of First Horizon in the 3rd quarter worth about $39,242,000. Barclays PLC increased its holdings in shares of First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock worth $29,301,000 after acquiring an additional 1,185,772 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of First Horizon in the 3rd quarter worth about $7,797,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Raymond James increased their target price on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barclays increased their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their target price on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased 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 report on Thursday, December 19th. Seven investment 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 has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Stock Performance

NYSE:FHN opened at $20.89 on Tuesday. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $21.18 and a 200-day moving average of $18.95. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

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

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is 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.