Fort Sheridan Advisors LLC Purchases 12,000 Shares of First Horizon Co. (NYSE:FHN)

Fort Sheridan Advisors LLC raised its position in First Horizon Co. (NYSE:FHN) by 34.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,170 shares of the financial services provider’s stock after purchasing an additional 12,000 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in First Horizon were worth $950,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after buying an additional 7,715,191 shares during the period. State Street Corp grew its position in First Horizon by 18.6% in the 3rd 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 during the last quarter. Geode Capital Management LLC increased its stake in First Horizon by 0.7% in 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 period. Point72 Asset Management L.P. bought a new stake in shares of First Horizon during the third quarter worth $39,242,000. Finally, Barclays PLC boosted its stake in shares of First Horizon by 169.1% during the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after purchasing an additional 1,185,772 shares during the period. Institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the 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 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 trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Stock Performance

Shares of FHN stock opened at $21.04 on Friday. The business has a fifty day moving average of $21.13 and a 200 day moving average of $18.81. First Horizon Co. has a 1 year low of $13.72 and a 1 year high of $22.44. 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 firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

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

First Horizon Dividend Announcement

The firm also recently disclosed 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 2.85%. First Horizon’s payout ratio is currently 44.12%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Bank of America boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Stephens restated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.04.

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.