Treasurer of the State of North Carolina Has $7.89 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Treasurer of the State of North Carolina lifted its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 64.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,708 shares of the financial services provider's stock after acquiring an additional 153,200 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.07% of First Horizon worth $7,889,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after buying an additional 7,715,191 shares during the period. Geode Capital Management LLC raised its holdings in First Horizon by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider's stock worth $145,194,000 after purchasing an additional 61,397 shares during the last quarter. Norges Bank acquired a new position in First Horizon during the 4th quarter valued at about $132,418,000. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 3,400,811 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $102,467,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FHN shares. Robert W. Baird raised shares of 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. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. upped 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. Bank of America raised their target price on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Stephens reaffirmed an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.03.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Down 1.2 %

FHN traded down $0.21 during trading on Friday, hitting $17.07. The company had a trading volume of 7,317,860 shares, compared to its average volume of 6,321,128. The company has a market capitalization of $8.78 billion, a PE ratio of 12.55, a PEG 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 one year low of $14.09 and a one year high of $22.44. The firm's 50-day moving average price is $19.22 and its 200 day moving average price is $19.50.

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

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.51%. First Horizon's dividend payout ratio is currently 44.12%.

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.