Jones Financial Companies Lllp Purchases Shares of 1,490 First Horizon Co. (NYSE:FHN)

Jones Financial Companies Lllp purchased a new stake in First Horizon Co. (NYSE:FHN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,490 shares of the financial services provider’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after buying an additional 884 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of First Horizon during the 4th quarter worth about $32,000. True Wealth Design LLC purchased a new position in shares of First Horizon during the 3rd quarter worth about $36,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of First Horizon by 63.4% during the 4th quarter. UMB Bank n.a. now owns 2,758 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,070 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FHN. Keefe, Bruyette & Woods boosted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Stephens reissued an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research 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 company a “neutral” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity at First Horizon

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 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 $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Up 2.0 %

Shares of First Horizon stock opened at $19.21 on Thursday. The company has a market cap of $10.02 billion, a P/E ratio of 14.12, a PEG ratio of 1.19 and a beta of 0.86. 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 one year low of $13.72 and a one year high of $22.44. The firm has a fifty day moving average of $20.85 and a two-hundred day moving average of $19.16.

First Horizon (NYSE:FHN) last announced its quarterly 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 prior year, the firm posted $0.32 earnings per share. On average, analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. First Horizon’s payout ratio is 44.12%.

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.