CapWealth Advisors LLC Purchases 5,997 Shares of First Horizon Co. (NYSE:FHN)

CapWealth Advisors LLC boosted its position in First Horizon Co. (NYSE:FHN) by 46.8% in the 4th quarter, HoldingsChannel reports. The firm owned 18,803 shares of the financial services provider’s stock after acquiring an additional 5,997 shares during the period. CapWealth Advisors LLC’s holdings in First Horizon were worth $379,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of First Horizon during the 2nd quarter worth approximately $312,000. Inspire Investing LLC increased its holdings in shares of First Horizon by 18.4% in the third quarter. Inspire Investing LLC now owns 26,446 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 4,101 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of First Horizon in the third quarter valued at $554,000. KMG Fiduciary Partners LLC raised its position in shares of First Horizon by 0.6% in the third quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider’s stock valued at $2,333,000 after purchasing an additional 952 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of First Horizon by 76.7% during the 3rd quarter. Blue Trust Inc. now owns 21,940 shares of the financial services provider’s stock worth $346,000 after buying an additional 9,522 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of NYSE:FHN opened at $22.11 on Friday. First Horizon Co. has a 1 year low of $13.72 and a 1 year high of $22.44. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $18.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 period last year, the business posted $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.64 EPS for the current fiscal year.

First Horizon announced that its Board of Directors has approved a share buyback plan on Tuesday, October 29th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. First Horizon’s payout ratio is currently 44.12%.

Insider Activity at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated 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 directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FHN shares. JPMorgan Chase & Co. increased their price target 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 lifted their price target on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods upped their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Stephens restated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and an average price target of $22.04.

First Horizon Company 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.