Aster Capital Management DIFC Ltd Boosts Position in First Horizon Co. (NYSE:FHN)

Aster Capital Management DIFC Ltd raised its stake in First Horizon Co. (NYSE:FHN) by 18,310.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,678 shares of the financial services provider’s stock after acquiring an additional 10,620 shares during the period. Aster Capital Management DIFC Ltd’s holdings in First Horizon were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after buying an additional 7,715,191 shares during the last quarter. State Street Corp boosted its stake in First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after acquiring an additional 4,116,486 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after purchasing an additional 61,397 shares during the last quarter. Norges Bank acquired a new stake in shares of First Horizon during the fourth quarter worth about $132,418,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on 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 owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America raised their price target on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. 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 report on Friday, January 17th. Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Royal Bank of Canada raised 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. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.57.

First Horizon Stock Performance

NYSE:FHN opened at $16.51 on Tuesday. The firm’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $19.45. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.49 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44.

First Horizon (NYSE:FHN) last issued 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 period in the previous year, the firm earned $0.32 earnings per share. Analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.63%. First Horizon’s payout ratio is 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.