195,707 Shares in First Horizon Co. (NYSE:FHN) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in First Horizon Co. (NYSE:FHN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 195,707 shares of the financial services provider’s stock, valued at approximately $3,942,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased 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 valued at $747,822,000 after acquiring an additional 7,715,191 shares during the last quarter. State Street Corp boosted its holdings in 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 worth $410,789,000 after purchasing an additional 4,116,486 shares during the period. Geode Capital Management LLC increased its stake in 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 purchasing an additional 61,397 shares during the last quarter. Norges Bank acquired a new stake in shares of First Horizon during the fourth quarter worth $132,418,000. Finally, JPMorgan Chase & Co. lifted its position in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after buying an additional 3,400,811 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Raymond James cut their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com downgraded First Horizon from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group assumed coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insiders Place Their Bets

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 $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 company insiders.

First Horizon Trading Up 2.6 %

Shares of First Horizon stock opened at $19.64 on Thursday. The business has a fifty day simple moving average of $20.53 and a 200-day simple moving average of $19.41. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. 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 issued its quarterly earnings results 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 prior year, the business posted $0.32 earnings per share. On average, equities analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.05%. First Horizon’s dividend payout ratio (DPR) is 44.12%.

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.