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

First Horizon Corporation (NYSE:FHN) EVP Elizabeth Ardoin sold 18,313 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Horizon Stock Down 0.3%

FHN opened at $24.45 on Wednesday. The company has a 50 day moving average of $25.47 and a 200 day moving average of $24.48. The company has a market cap of $11.59 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.97 and a beta of 0.61. First Horizon Corporation has a 12 month low of $19.80 and a 12 month high of $26.56. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $878.42 million. During the same period in the previous year, the business earned $0.45 EPS. On average, sell-side analysts expect that First Horizon Corporation will post 2.15 EPS for the current year.

First Horizon Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on FHN. Weiss Ratings upgraded First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. Truist Financial raised their price objective on shares of First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Friday, July 10th. National Bank Financial set a $29.00 price objective on shares of First Horizon in a research note on Thursday, July 16th. JPMorgan Chase & Co. decreased their target price on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Finally, Raymond James Financial increased their target price on shares of First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, First Horizon has an average rating of “Hold” and an average price target of $27.26.

Institutional Investors Weigh In On First Horizon

Hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC increased its holdings in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of First Horizon during the 2nd quarter worth $42,000. Geneos Wealth Management Inc. grew its position in First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in First Horizon by 1,348.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC grew its position in First Horizon by 56.2% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 746 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

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.