Treasurer of the State of North Carolina Grows Stock Holdings in First Horizon Co. (NYSE:FHN)

Treasurer of the State of North Carolina boosted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 391,708 shares of the financial services provider's stock after acquiring an additional 153,200 shares during the quarter. Treasurer of the State of North Carolina owned about 0.07% of First Horizon worth $7,889,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds and other institutional investors also recently modified their holdings of FHN. Versant Capital Management Inc lifted its holdings in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after purchasing an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new position in First Horizon during the 4th quarter worth $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon in the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon in the fourth quarter valued at about $50,000. Finally, Farther Finance Advisors LLC increased its stake in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after acquiring an additional 591 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Performance

First Horizon stock opened at $16.92 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The stock has a fifty day moving average of $19.72 and a two-hundred day moving average of $19.49. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.19 and a beta of 0.60.

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First Horizon (NYSE:FHN - Get Free Report) 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 period last year, the business posted $0.32 EPS. On average, analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.55%. First Horizon's dividend payout ratio (DPR) is currently 44.12%.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm's 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 sale, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on FHN. UBS Group began coverage on First Horizon in a report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective on the stock. Citigroup lifted their price target on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James reduced their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Stephens reaffirmed an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Finally, Barclays reduced their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.30.

Check Out Our Latest Stock Analysis on First Horizon

First Horizon Company 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.

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