First Horizon Co. (NYSE:FHN) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its position in shares of First Horizon Co. (NYSE:FHN) by 7.2% during the third quarter, Holdings Channel.com reports. The firm owned 123,922 shares of the financial services provider’s stock after selling 9,600 shares during the quarter. First Horizon Advisors Inc.’s holdings in First Horizon were worth $1,925,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC raised its stake in shares of First Horizon by 13.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after acquiring an additional 100,359 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of First Horizon by 286.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 65,730 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 48,720 shares in the last quarter. Greenwood Capital Associates LLC raised its holdings in shares of First Horizon by 10.1% in the 3rd quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock valued at $7,229,000 after buying an additional 42,793 shares during the period. Harbor Capital Advisors Inc. lifted its stake in First Horizon by 127.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 105,866 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 59,258 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in First Horizon during the 3rd quarter valued at about $2,669,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other First Horizon news, EVP David T. Popwell sold 100,974 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the sale, the director now owns 166,840 shares of the company’s stock, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FHN shares. Royal Bank of Canada increased their target price on shares of First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird set a $17.00 price objective on First Horizon in a research report on Thursday, October 17th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.38.

First Horizon Stock Down 1.1 %

Shares of First Horizon stock opened at $19.88 on Thursday. The company has a fifty day moving average price of $17.13 and a 200 day moving average price of $16.20. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a twelve month low of $11.87 and a twelve month high of $20.53. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

First Horizon declared that its board has initiated a stock buyback program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.02%. First Horizon’s dividend payout ratio is currently 43.48%.

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.