Insider Selling: First Horizon Co. (NYSE:FHN) EVP Sells 39,904 Shares of Stock

First Horizon Co. (NYSE:FHN – Get Rating) EVP Terry Lawson Akins sold 39,904 shares of the stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $22.75, for a total value of $907,816.00. Following the completion of the transaction, the executive vice president now directly owns 134,615 shares in the company, valued at approximately $3,062,491.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of FHN opened at $22.74 on Friday. The firm has a market cap of $12.16 billion, a PE ratio of 13.54 and a beta of 1.18. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $22.71 and a 200-day moving average price of $19.05. First Horizon Co. has a 12 month low of $14.67 and a 12 month high of $24.24.

First Horizon (NYSE:FHN – Get Rating) last issued its earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. First Horizon had a return on equity of 13.82% and a net margin of 30.72%. During the same period last year, the business posted $0.51 earnings per share. As a group, research analysts forecast that First Horizon Co. will post 1.51 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 9th. First Horizon’s dividend payout ratio is currently 35.71%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Guggenheim Capital LLC grew its position in First Horizon by 2.9% during the 3rd quarter. Guggenheim Capital LLC now owns 1,144,669 shares of the financial services provider’s stock worth $18,647,000 after purchasing an additional 32,421 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of First Horizon during the 3rd quarter valued at about $178,000. Handelsbanken Fonder AB grew its position in shares of First Horizon by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 1,502,919 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 100,000 shares during the period. TPG Financial Advisors LLC grew its position in shares of First Horizon by 55.5% during the 4th quarter. TPG Financial Advisors LLC now owns 19,177 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 6,847 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of First Horizon during the 4th quarter valued at about $101,000. 80.70% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on FHN shares. Jefferies Financial Group cut First Horizon from a “buy” rating to a “hold” rating and increased their price objective for the stock from $22.00 to $25.00 in a research note on Monday, March 7th. Janney Montgomery Scott cut First Horizon from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 1st. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a report on Friday, April 15th. Hovde Group lowered First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. Finally, Raymond James lowered First Horizon from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 1st. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.63.

First Horizon Company Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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