Lee Danner & Bass Inc. Invests $50,000 in First Horizon Co. (NYSE:FHN)

Lee Danner & Bass Inc. purchased a new stake in First Horizon Co. (NYSE:FHN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,474 shares of the financial services provider’s stock, valued at approximately $50,000.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in shares of First Horizon in the fourth quarter valued at approximately $32,000. True Wealth Design LLC bought a new stake in shares of First Horizon in the third quarter valued at approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Performance

NYSE FHN opened at $19.26 on Friday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.19 and a beta of 0.86. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The stock has a fifty day simple moving average of $20.80 and a 200 day simple moving average of $19.19. 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 in the prior year, the business earned $0.32 earnings per share. Sell-side analysts expect 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 issued 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 3.12%. First Horizon’s payout ratio is 44.12%.

Wall Street Analyst Weigh In

FHN has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. UBS Group initiated coverage on First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price for the company. Bank of America upped their target price on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Stephens restated an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’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 sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by company 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.