Kentucky Trust Co Buys Shares of 1,587 First Horizon Co. (NYSE:FHN)

Kentucky Trust Co bought a new stake in First Horizon Co. (NYSE:FHN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,587 shares of the financial services provider’s stock, valued at approximately $32,000.

Several other institutional investors also recently bought and sold shares of FHN. Sanctuary Advisors LLC acquired a new stake in First Horizon in the second quarter valued at approximately $312,000. CWM LLC lifted its stake in shares of First Horizon by 70.6% during the third quarter. CWM LLC now owns 99,157 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 41,050 shares during the period. UMB Bank n.a. lifted its stake in shares of First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the period. Inspire Investing LLC lifted its stake in shares of First Horizon by 18.4% during the third quarter. Inspire Investing LLC now owns 26,446 shares of the financial services provider’s stock worth $411,000 after buying an additional 4,101 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of First Horizon during the third quarter worth $1,730,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on 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 owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FHN has been the subject of several research reports. 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 research note on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Finally, Robert W. Baird set a $17.00 price objective on shares of First Horizon in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon Stock Down 1.3 %

FHN opened at $22.14 on Thursday. First Horizon Co. has a fifty-two week low of $13.57 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a fifty day moving average of $20.84 and a two-hundred day moving average of $18.38. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.26 and a beta of 0.92.

First Horizon (NYSE:FHN) last released 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 net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the business earned $0.32 earnings per share. On average, research analysts expect that First Horizon Co. will post 1.64 earnings per share for the current year.

First Horizon announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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 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 2.71%. First Horizon’s payout ratio is 44.12%.

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.