First Horizon Co. (NYSE:FHN) Position Increased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its holdings in First Horizon Co. (NYSE:FHN) by 30.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 55,387 shares of the financial services provider’s stock after buying an additional 12,944 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in First Horizon were worth $1,115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. 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 acquiring an additional 571 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 591 shares during the period. Independent Advisor Alliance lifted its holdings in shares of First Horizon by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 632 shares during the last quarter. Access Investment Management LLC grew its stake in First Horizon by 0.8% during the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 675 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in First Horizon by 20.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,736 shares of the financial services provider’s stock worth $95,000 after buying an additional 820 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of NYSE FHN opened at $16.16 on Friday. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $20.36 and a two-hundred day moving average of $19.40. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.19 and a beta of 0.86.

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

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio is 44.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FHN shares. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target for the company. Bank of America upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Wells Fargo & Company boosted their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada raised their target price on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by corporate 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.