New Age Alpha Advisors LLC Buys Shares of 304,771 First Horizon Co. (NYSE:FHN)

New Age Alpha Advisors LLC purchased a new position in shares of First Horizon Co. (NYSE:FHN) in the 4th quarter, Holdings Channel reports. The firm purchased 304,771 shares of the financial services provider’s stock, valued at approximately $6,138,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Citigroup Inc. boosted its position in First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in First Horizon during the 4th quarter worth $304,000. Merit Financial Group LLC acquired a new stake in First Horizon in the 4th quarter worth about $453,000. Smith Group Asset Management LLC bought a new position in shares of First Horizon during the fourth quarter worth approximately $1,813,000. Finally, Cerity Partners LLC raised its position in shares of First Horizon by 44.9% in the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock valued at $1,779,000 after buying an additional 35,479 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 1.3 %

FHN opened at $19.34 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company’s 50 day moving average price is $20.69 and its two-hundred day moving average price is $19.28. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping 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 business earned $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.10%. First Horizon’s dividend payout ratio (DPR) is 44.12%.

Insider Buying and Selling

In related 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 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 $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 Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on FHN shares. JPMorgan Chase & Co. increased their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Citigroup boosted their target price on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada boosted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays raised their target price on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.