First Horizon Co. (NYSE:FHN) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,970,951 shares of the financial services provider's stock after buying an additional 1,130,991 shares during the period. Northern Trust Corp owned approximately 0.94% of First Horizon worth $100,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after acquiring an additional 7,715,191 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Horizon by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock valued at $400,173,000 after purchasing an additional 97,429 shares in the last quarter. Norges Bank acquired a new stake in First Horizon in the fourth quarter worth about $132,418,000. JPMorgan Chase & Co. grew its position in First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after buying an additional 3,400,811 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in First Horizon in the 4th quarter valued at about $102,467,000. 80.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FHN shares. Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, April 7th. Royal Bank of Canada decreased their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lowered their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.03.

First Horizon Stock Up 3.3 %

FHN stock opened at $18.89 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $9.71 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The company's 50 day simple moving average is $18.45 and its 200-day simple moving average is $19.65.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the business earned $0.35 EPS. As a group, equities research analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.18%. First Horizon's payout ratio is presently 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.

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