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

Northern Trust Corp boosted its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 quarter. Northern Trust Corp owned approximately 0.94% of First Horizon worth $100,115,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FHN. Versant Capital Management Inc increased its position in shares of First Horizon by 160.1% during the fourth 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 in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon during the fourth quarter worth about $32,000. Lee Danner & Bass Inc. acquired a new position in First Horizon during the fourth quarter valued at $50,000. Finally, Farther Finance Advisors LLC grew its position 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 worth $52,000 after purchasing an additional 591 shares during the period. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Down 0.9 %

Shares of FHN stock traded down $0.17 during trading hours on Friday, reaching $19.09. 690,111 shares of the stock were exchanged, compared to its average volume of 6,141,821. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The business's fifty day moving average is $18.27 and its two-hundred day moving average is $19.68. 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 $9.82 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the business earned $0.35 EPS. As a group, research analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.14%. First Horizon's payout ratio is 41.67%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Raymond James dropped their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. StockNews.com cut shares of First Horizon from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. increased their target price on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

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.