First Horizon Co. (NYSE:FHN) Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its stake in shares of First Horizon Co. (NYSE:FHN) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,661,592 shares of the financial services provider’s stock after acquiring an additional 72,339 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in First Horizon were worth $53,604,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon during the 4th quarter worth about $32,000. Covestor Ltd boosted its position in shares of First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 651 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in First Horizon in the third quarter valued at approximately $36,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FHN shares. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. 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 report on Friday, January 17th. Barclays upped their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Stephens restated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Finally, Bank of America boosted their target price on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value 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 $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $18.93 on Monday. 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’s fifty day moving average price is $21.11 and its 200 day moving average price is $19.05. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.92, 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.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 last year, the business earned $0.32 EPS. On average, research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

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.