First Horizon Corporation $FHN Shares Acquired by Callan Family Office LLC

Callan Family Office LLC grew its stake in First Horizon Corporation (NYSE:FHN) by 181.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,596 shares of the financial services provider’s stock after purchasing an additional 31,997 shares during the quarter. Callan Family Office LLC’s holdings in First Horizon were worth $1,051,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Byrne Asset Management LLC raised its stake in First Horizon by 115.3% during the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 830 shares during the period. Geneos Wealth Management Inc. raised its stake in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares during the period. Compass Financial Services Inc acquired a new stake in First Horizon during the first quarter worth about $38,000. Quarry LP raised its stake in First Horizon by 129.2% during the first quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,243 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in First Horizon by 53,160.0% during the first quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,658 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FHN. Citigroup increased their price objective on shares of First Horizon from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Evercore ISI increased their price objective on shares of First Horizon from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada increased their price objective on shares of First Horizon from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday. Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Horizon in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.94.

Insider Buying and Selling

In related news, EVP David T. Popwell sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total transaction of $2,250,000.00. Following the transaction, the executive vice president owned 462,581 shares in the company, valued at $10,408,072.50. This trade represents a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Tammy Locascio sold 10,285 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $22.25, for a total transaction of $228,841.25. Following the sale, the chief operating officer owned 342,051 shares of the company’s stock, valued at $7,610,634.75. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,295 shares of company stock worth $3,322,663 in the last quarter. Company insiders own 1.04% of the company’s stock.

First Horizon Price Performance

NYSE FHN opened at $22.30 on Monday. First Horizon Corporation has a 52 week low of $15.19 and a 52 week high of $23.63. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.67. The company has a 50-day moving average price of $22.41 and a two-hundred day moving average price of $20.70.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. The business had revenue of $830.19 million for the quarter, compared to analyst estimates of $832.95 million. During the same quarter last year, the business earned $0.36 earnings per share. Analysts forecast that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, September 12th. First Horizon’s dividend payout ratio (DPR) is currently 38.71%.

First Horizon Company 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.