First Horizon Co. (NYSE:FHN – Get Free Report) CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
First Horizon Price Performance
Shares of NYSE FHN opened at $20.90 on Friday. The firm’s 50 day simple moving average is $20.52 and its 200-day simple moving average is $17.84. First Horizon Co. has a 12 month low of $13.45 and a 12 month high of $21.82. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.
First Horizon (NYSE:FHN – Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the prior year, the company earned $0.32 earnings per share. Analysts expect that First Horizon Co. will post 1.63 EPS for the current year.
First Horizon Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.15 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.87%. First Horizon’s dividend payout ratio (DPR) is 44.12%.
Institutional Investors Weigh In On First Horizon
Several large investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in shares of First Horizon by 3.5% during the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 559 shares in the last quarter. Covestor Ltd raised its position in shares of First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of First Horizon by 7.1% in the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock worth $181,000 after buying an additional 773 shares in the last quarter. Pacer Advisors Inc. boosted its position in First Horizon by 1.1% during the fourth quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider’s stock worth $1,592,000 after acquiring an additional 824 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in First Horizon by 10.6% during the 4th quarter. GAMMA Investing LLC now owns 9,117 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 875 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on FHN shares. Keefe, Bruyette & Woods boosted their target price on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Raymond James lifted their target price on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their price target on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group started coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.04.
View Our Latest Research Report on FHN
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.
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