First Horizon Corporation $FHN Shares Sold by Sentry LLC

Sentry LLC reduced its holdings in First Horizon Corporation (NYSE:FHN) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,089 shares of the financial services provider’s stock after selling 3,380 shares during the quarter. Sentry LLC’s holdings in First Horizon were worth $574,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FHN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Horizon by 53.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,594,944 shares of the financial services provider’s stock valued at $244,594,000 after purchasing an additional 4,392,405 shares during the period. William Blair Investment Management LLC bought a new stake in shares of First Horizon during the 2nd quarter worth $79,776,000. Invesco Ltd. boosted its stake in shares of First Horizon by 78.4% during the 1st quarter. Invesco Ltd. now owns 6,755,510 shares of the financial services provider’s stock worth $131,192,000 after acquiring an additional 2,968,012 shares in the last quarter. Nuveen LLC bought a new stake in shares of First Horizon during the 1st quarter worth $46,640,000. Finally, Sculptor Capital LP boosted its stake in shares of First Horizon by 59.0% during the 1st quarter. Sculptor Capital LP now owns 4,867,000 shares of the financial services provider’s stock worth $94,517,000 after acquiring an additional 1,806,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FHN. Cowen began coverage on First Horizon in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Bank of America raised their price objective on First Horizon from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Raymond James Financial set a $23.00 price objective on First Horizon in a research note on Wednesday, October 15th. Jefferies Financial Group set a $25.00 price objective on First Horizon and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada raised their target price on First Horizon from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.47.

First Horizon Trading Up 1.2%

First Horizon stock opened at $20.79 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The business’s 50-day simple moving average is $22.35 and its 200-day simple moving average is $20.81. The firm has a market capitalization of $10.55 billion, a PE ratio of 12.60, a PEG ratio of 0.84 and a beta of 0.67. First Horizon Corporation has a 52 week low of $15.19 and a 52 week high of $23.70.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. First Horizon had a return on equity of 11.03% and a net margin of 18.08%.The firm had revenue of $849.00 million for the quarter, compared to analyst estimates of $848.08 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, September 12th. First Horizon’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling at First Horizon

In other news, EVP David T. Popwell sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $22.50, for a total value of $2,250,000.00. Following the sale, the executive vice president directly owned 462,581 shares in the company, valued at approximately $10,408,072.50. This represents a 17.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.04% of the company’s stock.

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.