Atria Investments Inc Acquires New Position in First Horizon Co. (NYSE:FHN)

Atria Investments Inc acquired a new stake in shares of First Horizon Co. (NYSE:FHN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,934 shares of the financial services provider’s stock, valued at approximately $442,000.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. grew its position in First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares during the last quarter. Allen Capital Group LLC boosted its holdings in shares of First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 29,581 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of First Horizon during the 4th quarter valued at about $304,000. Merit Financial Group LLC purchased a new stake in shares of First Horizon during the 4th quarter valued at about $453,000. Finally, Smith Group Asset Management LLC bought a new position in shares of First Horizon in the 4th quarter worth approximately $1,813,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised their target price 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. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Bank of America raised their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insiders Place Their Bets

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

First Horizon Stock Up 3.0 %

Shares of NYSE:FHN opened at $19.02 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a 50-day moving average price of $20.94 and a 200 day moving average price of $19.10. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 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 prior year, the business posted $0.32 earnings per share. As a group, equities research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is currently 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.