First Horizon (NYSE:FHN) EVP Sells 5,719 Shares

First Horizon Corporation (NYSE:FHN - Get Free Report) EVP Anthony Restel sold 5,719 shares of the business's stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $24.35, for a total value of $139,257.65. Following the sale, the executive vice president owned 619,132 shares of the company's stock, valued at approximately $15,075,864.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First Horizon Stock Performance

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Shares of First Horizon stock opened at $24.82 on Tuesday. First Horizon Corporation has a 52 week low of $15.19 and a 52 week high of $25.21. The firm has a fifty day moving average of $23.87 and a two-hundred day moving average of $22.65. 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 stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.92 and a beta of 0.63.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.06. The company had revenue of $892.00 million for the quarter, compared to analyst estimates of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same period last year, the business posted $0.43 earnings per share. As a group, equities research analysts predict that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Increases Dividend

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, March 13th. This is a positive change from First Horizon's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. First Horizon's dividend payout ratio (DPR) is 31.91%.

First Horizon announced that its board has approved a stock repurchase plan on Monday, October 27th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently bought and sold shares of FHN. Navigoe LLC bought a new stake in First Horizon in the third quarter valued at approximately $25,000. Atlantic Union Bankshares Corp bought a new stake in First Horizon in the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new stake in First Horizon in the 3rd quarter valued at $31,000. Kestra Investment Management LLC lifted its holdings in First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,458 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock worth $35,000 after purchasing an additional 1,095 shares during the period. Institutional investors own 80.28% of the company's stock.

Analysts Set New Price Targets

FHN has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their price objective on First Horizon from $24.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, January 16th. Evercore ISI reaffirmed an "in-line" rating and set a $20.00 price target (down previously from $26.00) on shares of First Horizon in a research report on Thursday, October 16th. Robert W. Baird downgraded shares of First Horizon from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 11th. Truist Financial set a $27.00 price objective on shares of First Horizon in a research report on Friday, January 9th. Finally, DA Davidson raised their target price on shares of First Horizon from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, First Horizon currently has a consensus rating of "Moderate Buy" and an average price target of $26.58.

View Our Latest Stock Analysis on First Horizon

First Horizon Company Profile

(Get Free Report)

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.

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