Headlands Technologies LLC Raises Stock Position in First Horizon Co. (NYSE:FHN)

Headlands Technologies LLC lifted its stake in First Horizon Co. (NYSE:FHN) by 505.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,178 shares of the financial services provider’s stock after purchasing an additional 30,206 shares during the period. Headlands Technologies LLC’s holdings in First Horizon were worth $729,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FHN. Steward Partners Investment Advisory LLC lifted its holdings in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after buying an additional 571 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 591 shares during the period. Independent Advisor Alliance boosted its position in shares of First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 632 shares in the last quarter. Access Investment Management LLC grew its stake in First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 675 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in First Horizon by 7.1% in the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 773 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Up 2.6 %

Shares of FHN stock opened at $19.64 on Thursday. 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. The stock has a market capitalization of $10.10 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.19 and a beta of 0.86. The firm’s 50 day moving average is $20.53 and its 200 day moving average is $19.41.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.32 EPS. Research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective 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. Bank of America boosted their price target on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Finally, Royal Bank of Canada boosted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.87% of the company’s stock.

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.