Stephens Inc. AR Has $3.29 Million Holdings in First Horizon Co. (NYSE:FHN)

Stephens Inc. AR lessened its holdings in First Horizon Co. (NYSE:FHN) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 163,425 shares of the financial services provider’s stock after selling 2,204 shares during the period. Stephens Inc. AR’s holdings in First Horizon were worth $3,291,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Versant Capital Management Inc boosted its position in 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 in the last quarter. Covestor Ltd grew its stake in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after buying an additional 651 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of First Horizon during the third quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Activity

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 sale, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FHN has been the topic of a number of research reports. Robert W. Baird set a $17.00 price objective on First Horizon in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada boosted their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Bank of America upped their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and an average target price of $22.04.

First Horizon Price Performance

FHN stock opened at $22.10 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $20.77 and its 200 day simple moving average is $18.32. First Horizon Co. has a 12-month low of $13.57 and a 12-month high of $22.43. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.26 and a beta of 0.92.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating 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 posted $0.32 EPS. On average, 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 approved a stock buyback plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) 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.