First Horizon (NYSE:FHN) EVP Elizabeth Ardoin Sells 18,313 Shares

First Horizon Corporation (NYSE:FHN) EVP Elizabeth Ardoin sold 18,313 shares of First Horizon stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total transaction of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares in the company, valued at approximately $8,458,144.80. This trade represents a 5.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

First Horizon Trading Down 0.4%

Shares of FHN traded down $0.10 during mid-day trading on Monday, reaching $24.54. 3,668,761 shares of the company were exchanged, compared to its average volume of 5,422,544. First Horizon Corporation has a 52 week low of $19.80 and a 52 week high of $26.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market capitalization of $11.62 billion, a PE ratio of 11.74, a PEG ratio of 0.98 and a beta of 0.61. The business has a 50 day simple moving average of $25.48 and a two-hundred day simple moving average of $24.50.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The business had revenue of $887.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that First Horizon Corporation will post 2.15 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. First Horizon’s payout ratio is currently 32.54%.

Institutional Trading of First Horizon

Several hedge funds have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC increased its stake in shares of First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,458 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of First Horizon during the 2nd quarter valued at approximately $42,000. Geneos Wealth Management Inc. boosted its holdings in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,095 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in First Horizon by 1,348.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,874 shares during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in First Horizon by 56.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after buying an additional 746 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

FHN has been the topic of a number of analyst reports. UBS Group restated a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. JPMorgan Chase & Co. decreased their price objective on First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Wall Street Zen downgraded First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Evercore set a $27.00 target price on First Horizon in a report on Monday, July 6th. Finally, Fundamental Research set a $28.50 target price on First Horizon in a report on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and an average target price of $27.26.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.