FreeGulliver LLC Makes New $2.04 Million Investment in First Horizon Co. (NYSE:FHN)

FreeGulliver LLC purchased a new position in shares of First Horizon Co. (NYSE:FHN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 101,093 shares of the financial services provider’s stock, valued at approximately $2,036,000. First Horizon makes up about 1.0% of FreeGulliver LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently added to or reduced their stakes in FHN. KBC Group NV lifted its stake in First Horizon by 240.5% during the third quarter. KBC Group NV now owns 47,724 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 33,708 shares in the last quarter. CIBC Asset Management Inc lifted its stake in First Horizon by 3.5% during the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 559 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of First Horizon by 106.5% in the third quarter. Thrivent Financial for Lutherans now owns 622,481 shares of the financial services provider’s stock valued at $9,668,000 after acquiring an additional 321,098 shares in the last quarter. AMG National Trust Bank raised its stake in shares of First Horizon by 106.0% in the third quarter. AMG National Trust Bank now owns 91,620 shares of the financial services provider’s stock valued at $1,423,000 after acquiring an additional 47,152 shares in the last quarter. Finally, Prospera Financial Services Inc raised its stake in shares of First Horizon by 56.9% in the third quarter. Prospera Financial Services Inc now owns 46,504 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 16,872 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

Shares of FHN stock opened at $18.82 on Wednesday. The stock’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.16. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 1 year low of $13.72 and a 1 year 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.

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

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America increased their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group increased their price objective on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup increased their price objective on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Barclays increased their target price on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.