Carlson Capital L.P. Purchases Shares of 54,300 First Horizon Co. (NYSE:FHN)

Carlson Capital L.P. purchased a new stake in shares of First Horizon Co. (NYSE:FHNFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 54,300 shares of the financial services provider’s stock, valued at approximately $1,094,000. First Horizon comprises 0.6% of Carlson Capital L.P.’s portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in First Horizon by 26.2% during the fourth 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 grew its position in First Horizon by 18.6% during 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 acquiring an additional 4,116,486 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 61,397 shares during the last quarter. Point72 Asset Management L.P. bought a new position in First Horizon during the third quarter valued at approximately $39,242,000. Finally, Barclays PLC grew its position in First Horizon by 169.1% during the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after acquiring an additional 1,185,772 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Performance

Shares of FHN stock opened at $20.94 on Thursday. The stock has a fifty day moving average of $21.10 and a 200 day moving average of $18.80. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.19 and a beta of 0.92. 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:FHNGet Free Report) last announced its quarterly earnings data 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 company earned $0.32 earnings per share. As a group, research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FHN. Royal Bank of Canada increased their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays increased their price objective on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Wells Fargo & Company increased their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. UBS Group began coverage on First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.04.

Read Our Latest Report on First Horizon

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction on 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 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. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

First Horizon Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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