Focus Partners Advisor Solutions LLC Sells 12,064 Shares of First Horizon Corporation $FHN

Focus Partners Advisor Solutions LLC lessened its holdings in shares of First Horizon Corporation (NYSE:FHN) by 8.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 126,101 shares of the financial services provider’s stock after selling 12,064 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in First Horizon were worth $2,673,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. AlphaQuest LLC raised its holdings in First Horizon by 119.1% in the 2nd quarter. AlphaQuest LLC now owns 83,013 shares of the financial services provider’s stock valued at $1,760,000 after acquiring an additional 45,123 shares in the last quarter. Forum Financial Management LP raised its holdings in First Horizon by 7.0% in the 2nd quarter. Forum Financial Management LP now owns 15,477 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 1,010 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in First Horizon by 782.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,560 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,270 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in First Horizon by 107.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,150 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Whittier Trust Co. acquired a new position in First Horizon in the 2nd quarter valued at approximately $148,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on First Horizon from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. TD Cowen initiated coverage on First Horizon in a report on Thursday, September 25th. They issued a “hold” rating and a $25.00 target price for the company. Bank of America increased their price objective on First Horizon from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Finally, Barclays increased their price objective on First Horizon from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One 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 stock. According to MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $24.47.

Insider Activity at First Horizon

In other news, EVP David T. Popwell sold 100,000 shares of the business’s stock in a transaction dated 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 $10,408,072.50. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

First Horizon Stock Performance

FHN stock opened at $20.88 on Friday. The firm has a market cap of $10.60 billion, a PE ratio of 12.65, a P/E/G ratio of 0.84 and a beta of 0.67. The business’s 50-day moving average price is $22.27 and its two-hundred day moving average price is $20.90. First Horizon Corporation has a 1-year low of $15.19 and a 1-year high of $23.70. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

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

First Horizon Announces Dividend

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

First Horizon 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.