Xponance Inc. Buys 2,804 Shares of First Horizon Co. (NYSE:FHN)

Xponance Inc. raised its stake in First Horizon Co. (NYSE:FHN) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,171 shares of the financial services provider’s stock after purchasing an additional 2,804 shares during the period. Xponance Inc.’s holdings in First Horizon were worth $1,232,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FHN. Bank of New York Mellon Corp lifted 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 purchasing an additional 7,715,191 shares in the last quarter. State Street Corp lifted its stake in shares of First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after buying an additional 4,116,486 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after buying an additional 61,397 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of First Horizon during the fourth quarter worth about $102,467,000. Finally, Amundi raised its holdings in shares of First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock worth $77,104,000 after acquiring an additional 2,683,746 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

Shares of NYSE FHN opened at $19.26 on Monday. 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 stock has a fifty day simple moving average of $20.80 and a two-hundred day simple moving average of $19.22. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

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

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

Insider Activity at First Horizon

In other First Horizon 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 sale, the chief executive officer now 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 legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FHN has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Bank of America increased their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. 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 report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price target on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

About First Horizon

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.