First Horizon Co. (NYSE:FHN) EVP Sells $1,996,255.98 in Stock

First Horizon Co. (NYSE:FHN) EVP David T. Popwell sold 100,974 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the sale, the executive vice president now directly owns 519,926 shares in the company, valued at $10,278,937.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

First Horizon Stock Performance

Shares of NYSE FHN opened at $19.69 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.84. The stock has a 50 day moving average price of $16.44 and a 200 day moving average price of $15.92. The stock has a market capitalization of $10.55 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.86. First Horizon Co. has a 52 week low of $10.96 and a 52 week high of $20.11.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.27 EPS. Analysts predict that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

First Horizon announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. First Horizon’s dividend payout ratio is presently 43.48%.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its stake in First Horizon by 365.0% in the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,325 shares during the period. Family Firm Inc. bought a new stake in First Horizon in the 2nd quarter valued at $28,000. Nemes Rush Group LLC lifted its holdings in First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,378 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in First Horizon during the second quarter worth $31,000. Finally, Covestor Ltd boosted its position in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the period. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FHN shares. Barclays raised their price target on First Horizon from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Raymond James upped their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Finally, Stephens boosted their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $18.38.

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.