First Horizon Corporation (NYSE:FHN) Plans Quarterly Dividend of $0.17

First Horizon Corporation (NYSE:FHN) announced a quarterly dividend on Monday, October 26th. Investors of record on Friday, December 11th will be given a dividend of $0.17 per share by the financial services provider on Monday, January 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, December 11th.

First Horizon has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Horizon to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 28.8%.

First Horizon Stock Up 0.0%

FHN stock opened at $23.44 on Tuesday. The company’s 50 day moving average price is $23.86 and its 200 day moving average price is $24.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.97. First Horizon has a fifty-two week low of $20.40 and a fifty-two week high of $26.56. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.97 and a beta of 0.61.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. First Horizon had a net margin of 14.35% and a return on equity of 12.24%. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.18 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate that First Horizon will post 2.14 EPS for the current fiscal year.

Insider Buying and Selling at First Horizon

In related news, EVP Elizabeth Ardoin sold 18,313 shares of First Horizon stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total transaction of $455,078.05. Following the sale, the executive vice president directly owned 340,368 shares in the company, valued at $8,458,144.80. This trade represents a 5.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in First Horizon by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock worth $3,162,000 after purchasing an additional 425 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of First Horizon by 5.2% in the third quarter. Farther Finance Advisors LLC now owns 9,212 shares of the financial services provider’s stock valued at $212,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC raised its position in shares of First Horizon by 2.8% in the third quarter. GAMMA Investing LLC now owns 20,261 shares of the financial services provider’s stock valued at $466,000 after buying an additional 558 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of First Horizon by 2.3% in the third quarter. Quadrant Capital Group LLC now owns 28,787 shares of the financial services provider’s stock worth $655,000 after buying an additional 642 shares in the last quarter. Finally, Summit Asset Management LLC lifted its stake in shares of First Horizon by 4.0% in the first quarter. Summit Asset Management LLC now owns 18,023 shares of the financial services provider’s stock worth $410,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation is a financial services company headquartered in Memphis, Tennessee, and the parent company of First Horizon Bank. The company provides banking and financial services to individuals, businesses, institutions and government entities through a network serving communities primarily across the southeastern United States.

Its offerings include consumer and commercial deposit accounts, residential and commercial lending, treasury management, payment services, personal and business banking, and wealth management.