NFC Investments LLC Has $9.99 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

NFC Investments LLC lessened its holdings in shares of First Horizon Co. (NYSE:FHN) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 496,175 shares of the financial services provider’s stock after selling 900 shares during the period. First Horizon makes up approximately 2.8% of NFC Investments LLC’s holdings, making the stock its 14th largest position. NFC Investments LLC owned 0.09% of First Horizon worth $9,993,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FHN. Bank of New York Mellon Corp raised its holdings in 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 valued at $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. Raymond James Financial Inc. acquired a new position in First Horizon in the 4th quarter valued at approximately $102,467,000. State Street Corp raised its holdings in 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 valued at $410,789,000 after acquiring an additional 4,116,486 shares in the last quarter. Amundi raised its holdings in First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock valued at $77,104,000 after acquiring an additional 2,683,746 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in First Horizon in the 3rd quarter valued at approximately $39,242,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Up 3.0 %

NYSE FHN opened at $19.02 on Monday. The firm has a market cap of $9.92 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The stock’s 50 day simple moving average is $20.94 and its 200 day simple moving average is $19.12. 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 (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 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 period last year, the business posted $0.32 EPS. As a group, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. First Horizon’s payout ratio is 44.12%.

Analyst Ratings Changes

FHN has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Stephens reissued an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada increased their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling 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 stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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.