Krilogy Financial LLC Makes New Investment in First Horizon Co. (NYSE:FHN)

Krilogy Financial LLC bought a new position in First Horizon Co. (NYSE:FHN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,951 shares of the financial services provider’s stock, valued at approximately $261,000.

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in First Horizon by 3.5% in the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock worth $254,000 after buying an additional 559 shares during the last quarter. Covestor Ltd boosted its stake in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the period. CreativeOne Wealth LLC boosted its stake in First Horizon by 7.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 773 shares during the period. GAMMA Investing LLC boosted its stake in First Horizon by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 9,117 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 875 shares during the period. Finally, Versant Capital Management Inc boosted its stake in 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 purchasing an additional 884 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

NYSE:FHN opened at $21.54 on Monday. The firm’s 50-day moving average is $20.43 and its 200-day moving average is $17.71. First Horizon Co. has a 52-week low of $13.45 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.36 and a beta of 0.92.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter in the prior year, the business posted $0.32 EPS. Equities research analysts anticipate that First Horizon Co. will post 1.5 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.15 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.79%. First Horizon’s dividend payout ratio (DPR) is presently 43.48%.

First Horizon announced that its board has authorized a share buyback program on Tuesday, October 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FHN has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Barclays raised their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Robert W. Baird set a $17.00 target price on shares of First Horizon in a research note on Thursday, October 17th. Stephens reissued an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average price target of $22.04.

Insider Buying and Selling at First Horizon

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the director now directly owns 166,840 shares in the company, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

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.