EverSource Wealth Advisors LLC Boosts Stock Holdings in First Horizon Co. (NYSE:FHN)

EverSource Wealth Advisors LLC lifted its stake in First Horizon Co. (NYSE:FHN) by 128.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,751 shares of the financial services provider’s stock after buying an additional 3,801 shares during the period. EverSource Wealth Advisors LLC’s holdings in First Horizon were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FHN. Moors & Cabot Inc. lifted its holdings in First Horizon by 6.6% in the 4th quarter. Moors & Cabot Inc. now owns 39,800 shares of the financial services provider’s stock worth $802,000 after buying an additional 2,450 shares during the period. Independent Advisor Alliance raised its holdings in shares of First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after acquiring an additional 632 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in First Horizon by 2.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after acquiring an additional 72,339 shares during the period. Isthmus Partners LLC boosted its holdings in First Horizon by 4.3% in the fourth quarter. Isthmus Partners LLC now owns 23,572 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 967 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Horizon by 12.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,725 shares of the financial services provider’s stock valued at $2,613,000 after purchasing an additional 14,017 shares during the period. Institutional investors own 80.28% of the company’s stock.

Insiders Place Their Bets

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 directly 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Citigroup lifted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Royal Bank of Canada upped their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Barclays lifted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Bank of America upped their price target on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Stock Performance

NYSE FHN opened at $18.86 on Tuesday. 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 twelve month low of $13.72 and a twelve month high of $22.44. The business has a 50-day moving average price of $20.91 and a 200-day moving average price of $19.14. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. 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 company posted $0.32 EPS. As a group, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

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.