Hancock Whitney Corp Invests $540,000 in First Horizon Co. (NYSE:FHN)

Hancock Whitney Corp purchased a new stake in shares of First Horizon Co. (NYSE:FHN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,816 shares of the financial services provider's stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock worth $111,270,000 after acquiring an additional 3,400,811 shares during the period. First Citizens Bank & Trust Co. acquired a new position in First Horizon in the fourth quarter valued at $304,000. Merit Financial Group LLC bought a new position in First Horizon during the fourth quarter worth $453,000. Smith Group Asset Management LLC bought a new stake in First Horizon during the 4th quarter valued at $1,813,000. Finally, Atria Investments Inc purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $442,000. 80.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FHN shares. Barclays lowered their target price on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada lowered their price objective on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.03.

First Horizon Stock Down 0.4 %

Shares of NYSE FHN traded down $0.08 during trading on Wednesday, reaching $18.07. The company had a trading volume of 5,013,395 shares, compared to its average volume of 6,304,971. The stock has a market cap of $9.29 billion, a PE ratio of 13.29, a P/E/G ratio of 1.19 and a beta of 0.60. 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 12-month low of $14.09 and a 12-month high of $22.44. The business's 50-day moving average is $18.59 and its 200 day moving average is $19.62.

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

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) 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.