Ontario Teachers Pension Plan Board Grows Stock Holdings in First Horizon Co. (NYSE:FHN)

Ontario Teachers Pension Plan Board raised its position in First Horizon Co. (NYSE:FHN) by 17.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,067 shares of the financial services provider’s stock after purchasing an additional 5,150 shares during the period. Ontario Teachers Pension Plan Board’s holdings in First Horizon were worth $686,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% during the 4th 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 during the last quarter. Jones Financial Companies Lllp acquired a new stake in First Horizon in the 4th quarter worth about $30,000. Kentucky Trust Co purchased a new stake in First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon during the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 2,000 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James cut their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday, April 8th. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their target price on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average target price of $22.30.

First Horizon Stock Performance

Shares of FHN stock opened at $17.25 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.19 and a beta of 0.60. First Horizon Co. has a one year low of $13.93 and a one year high of $22.44. The company’s 50-day simple moving average is $19.43 and its 200-day simple moving average is $19.48.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating 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 business 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. Equities analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

Insider Buying and Selling

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

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.