Poinciana Advisors Group LLC Takes $262,000 Position in First Horizon Co. (NYSE:FHN)

Poinciana Advisors Group LLC acquired a new stake in First Horizon Co. (NYSE:FHN) in the fourth quarter, HoldingsChannel reports. The fund acquired 13,025 shares of the financial services provider’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FHN. Versant Capital Management Inc grew its position in shares of First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co bought a new stake in shares of First Horizon during the 4th quarter worth about $32,000. Covestor Ltd boosted its holdings in shares of First Horizon by 44.0% during the 3rd 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 period. Finally, True Wealth Design LLC bought a new stake in shares of First Horizon during the 3rd quarter worth about $36,000. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FHN shares. Keefe, Bruyette & Woods lifted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Citigroup lifted their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. 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. Finally, Royal Bank of Canada lifted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Price Performance

Shares of NYSE:FHN opened at $19.02 on Friday. The firm has a 50 day moving average of $20.94 and a 200-day moving average of $19.08. The stock has a market capitalization of $9.92 billion, a PE ratio of 13.98, a PEG ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44.

First Horizon (NYSE:FHN) last issued 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 net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is 44.12%.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred 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 $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by insiders.

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.