Fiduciary Trust Co Buys Shares of 15,283 First Horizon Co. (NYSE:FHN)

Fiduciary Trust Co acquired a new stake in shares of First Horizon Co. (NYSE:FHN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,283 shares of the financial services provider's stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in shares of First Horizon in the fourth quarter worth about $30,000. Kentucky Trust Co acquired a new position in First Horizon in the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new position in First Horizon during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its stake in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 591 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FHN has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. boosted their price objective on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, April 7th. Finally, Truist Financial started coverage on First Horizon in a research report on Tuesday. They issued a "hold" rating and a $21.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.97.

First Horizon Price Performance

Shares of NYSE FHN traded up $0.10 during trading on Friday, hitting $20.36. The company had a trading volume of 3,018,760 shares, compared to its average volume of 6,125,175. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The stock has a fifty day simple moving average of $18.36 and a two-hundred day simple moving average of $19.77. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a fifty-two week low of $14.09 and a fifty-two week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The company had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same period in the previous year, the firm posted $0.35 EPS. On average, research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio is currently 41.67%.

About First Horizon

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.