ExodusPoint Capital Management LP Has $26.59 Million Stake in First Horizon Co. (NYSE:FHN)

ExodusPoint Capital Management LP boosted its holdings in shares of First Horizon Co. (NYSE:FHN) by 700.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,320,187 shares of the financial services provider’s stock after buying an additional 1,155,187 shares during the period. ExodusPoint Capital Management LP’s holdings in First Horizon were worth $26,589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Citizens Bank & Trust Co. acquired a new stake in shares of First Horizon during the 4th quarter valued at about $304,000. Merit Financial Group LLC bought a new position in First Horizon during the fourth quarter worth about $453,000. Smith Group Asset Management LLC acquired a new stake in First Horizon during the fourth quarter valued at approximately $1,813,000. Johnson Investment Counsel Inc. grew its stake in shares of First Horizon by 2.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock valued at $53,604,000 after purchasing an additional 72,339 shares during the period. Finally, Atria Investments Inc acquired a new position in shares of First Horizon in the 4th quarter worth approximately $442,000. Institutional investors own 80.28% of the company’s stock.

Insiders Place Their Bets

In other First Horizon 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Raymond James reduced their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a 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 research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Trading Up 2.6 %

Shares of FHN opened at $19.64 on Thursday. The stock’s fifty day simple moving average is $20.53 and its 200-day simple moving average is $19.41. The firm has a market capitalization of $10.10 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. 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:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

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.