Bridgefront Capital LLC Invests $212,000 in First Horizon Co. (NYSE:FHN)

Bridgefront Capital LLC acquired a new position in shares of First Horizon Co. (NYSE:FHN – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,258 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors also recently modified their holdings of FHN. Private Advisor Group LLC increased its stake in shares of First Horizon by 15.6% during the 1st quarter. Private Advisor Group LLC now owns 29,962 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 4,036 shares during the last quarter. Panagora Asset Management Inc. grew its stake in First Horizon by 22.9% in the 1st quarter. Panagora Asset Management Inc. now owns 17,303 shares of the financial services provider’s stock valued at $406,000 after buying an additional 3,224 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in First Horizon by 10.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 310,733 shares of the financial services provider’s stock valued at $7,507,000 after buying an additional 30,189 shares during the last quarter. Blair William & Co. IL grew its stake in First Horizon by 2.1% in the 1st quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock valued at $666,000 after buying an additional 575 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in First Horizon by 3,619.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,003,120 shares of the financial services provider’s stock valued at $23,563,000 after buying an additional 976,149 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Horizon news, EVP Terry Lawson Akins sold 4,694 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $24.67, for a total transaction of $115,800.98. Following the transaction, the executive vice president now owns 145,691 shares in the company, valued at approximately $3,594,196.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Horizon news, EVP Terry Lawson Akins sold 4,694 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $24.67, for a total transaction of $115,800.98. Following the transaction, the executive vice president now owns 145,691 shares in the company, valued at approximately $3,594,196.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO D Bryan Jordan sold 93,157 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $24.80, for a total transaction of $2,310,293.60. Following the sale, the chief executive officer now directly owns 1,396,259 shares of the company’s stock, valued at approximately $34,627,223.20. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

First Horizon Stock Up 0.2 %

Shares of FHN opened at $15.56 on Friday. First Horizon Co. has a 52 week low of $13.40 and a 52 week high of $24.92. The firm has a market cap of $8.36 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The firm’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $23.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 0.94.

First Horizon (NYSE:FHN – Get Rating) last announced its earnings results on Wednesday, January 18th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. First Horizon had a net margin of 25.66% and a return on equity of 12.98%. The firm had revenue of $882.00 million for the quarter, compared to analyst estimates of $883.23 million. During the same quarter in the prior year, the business posted $0.48 EPS. On average, analysts forecast that First Horizon Co. will post 1.89 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.86%. First Horizon’s payout ratio is presently 39.22%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of First Horizon in a research note on Thursday. They issued a “sell” rating on the stock.

First Horizon Company Profile

(Get Rating)

First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through three segments: Regional Banking, Specialty Banking, and Corporate.