Farther Finance Advisors LLC Has $123,000 Position in First Horizon Corporation $FHN

Farther Finance Advisors LLC cut its position in First Horizon Corporation (NYSE:FHN) by 19.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,810 shares of the financial services provider’s stock after selling 1,414 shares during the quarter. Farther Finance Advisors LLC’s holdings in First Horizon were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC increased its position in First Horizon by 115.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 830 shares in the last quarter. Geneos Wealth Management Inc. increased its position in First Horizon by 156.7% during the 1st 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 in the last quarter. Compass Financial Services Inc bought a new stake in First Horizon during the 1st quarter worth approximately $38,000. Quarry LP grew its holdings in First Horizon by 129.2% during the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in First Horizon by 53,160.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,658 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of First Horizon in a report on Saturday, September 27th. Raymond James Financial reissued an “outperform” rating and set a $24.00 target price (up from $20.00) on shares of First Horizon in a report on Tuesday, July 8th. Citigroup boosted their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $24.00 price objective (up from $22.00) on shares of First Horizon in a research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.53.

Insider Activity at First Horizon

In related news, COO Tammy Locascio sold 10,285 shares of First Horizon stock in a transaction on Friday, July 18th. The shares were sold at an average price of $22.25, for a total value of $228,841.25. Following the transaction, the chief operating officer directly owned 342,051 shares of the company’s stock, valued at $7,610,634.75. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David T. Popwell sold 100,000 shares of First Horizon stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total transaction of $2,250,000.00. Following the completion of the sale, the executive vice president owned 462,581 shares in the company, valued at approximately $10,408,072.50. This trade represents a 17.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,295 shares of company stock worth $3,322,663 over the last three months. Insiders own 0.87% of the company’s stock.

First Horizon Price Performance

FHN opened at $22.58 on Friday. The firm has a market cap of $11.46 billion, a P/E ratio of 14.56, a PEG ratio of 1.05 and a beta of 0.67. The firm has a 50-day moving average of $22.31 and a 200 day moving average of $20.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Corporation has a fifty-two week low of $15.19 and a fifty-two week high of $23.26.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $830.19 million during the quarter, compared to analyst estimates of $832.95 million. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. During the same quarter last year, the business earned $0.36 earnings per share. On average, research analysts expect that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. First Horizon’s dividend payout ratio (DPR) is 38.71%.

About First Horizon

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.