Barclays PLC Purchases 1,185,772 Shares of First Horizon Co. (NYSE:FHN)

Barclays PLC raised its position in First Horizon Co. (NYSE:FHN) by 169.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,886,828 shares of the financial services provider’s stock after acquiring an additional 1,185,772 shares during the period. Barclays PLC owned approximately 0.36% of First Horizon worth $29,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC boosted its position in shares of First Horizon by 365.7% in the 3rd quarter. LRI Investments LLC now owns 3,800 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,984 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in First Horizon by 2.5% in the third quarter. Public Employees Retirement System of Ohio now owns 223,685 shares of the financial services provider’s stock valued at $3,474,000 after buying an additional 5,394 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in First Horizon by 15.7% in the third quarter. Orion Portfolio Solutions LLC now owns 42,443 shares of the financial services provider’s stock worth $659,000 after acquiring an additional 5,763 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of First Horizon during the third quarter worth about $279,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of First Horizon during the third quarter valued at about $182,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Horizon

In other news, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the transaction, the executive vice president now directly owns 519,926 shares of the company’s stock, valued at $10,278,937.02. This represents a 16.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the transaction, the director now owns 166,840 shares in the company, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on FHN shares. Robert W. Baird set a $17.00 target price on shares of First Horizon in a research note on Thursday, October 17th. Wedbush downgraded shares of First Horizon from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $17.00 in a research note on Tuesday, September 24th. Evercore ISI upped their target price on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Stephens increased their price objective on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

First Horizon Stock Down 0.5 %

Shares of FHN stock opened at $20.20 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a twelve month low of $12.95 and a twelve month high of $21.72. The stock has a 50 day moving average of $18.88 and a 200 day moving average of $16.77. The stock has a market cap of $10.71 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.54 and a beta of 0.91.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. During the same period in the previous year, the firm earned $0.27 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon declared that its board has initiated a stock buyback plan on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.15 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. First Horizon’s dividend payout ratio (DPR) is currently 43.48%.

First Horizon Profile

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.