D Bryan Jordan Sells 109,980 Shares of First Horizon Co. (NYSE:FHN) Stock

First Horizon Co. (NYSE:FHN) CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

First Horizon Stock Performance

FHN traded down $0.10 on Thursday, reaching $20.90. The company had a trading volume of 6,370,810 shares, compared to its average volume of 5,949,650. The stock has a market capitalization of $11.08 billion, a PE ratio of 15.36, a P/E/G ratio of 1.21 and a beta of 0.92. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 1 year low of $13.45 and a 1 year high of $21.82. The stock has a 50-day moving average price of $20.50 and a 200-day moving average price of $17.82.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the business posted $0.32 EPS. As a group, research analysts forecast that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, December 13th. First Horizon’s payout ratio is 44.12%.

First Horizon declared that its board has initiated a stock buyback program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On First Horizon

A number of large investors have recently made changes to their positions in FHN. American Century Companies Inc. lifted its holdings in First Horizon by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 239,193 shares of the financial services provider’s stock valued at $3,772,000 after purchasing an additional 5,469 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of First Horizon by 5.9% in the second quarter. Envestnet Asset Management Inc. now owns 121,075 shares of the financial services provider’s stock valued at $1,909,000 after buying an additional 6,696 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in First Horizon by 9.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 25,723 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 2,143 shares during the last quarter. XTX Topco Ltd grew its stake in First Horizon by 67.6% in the 2nd quarter. XTX Topco Ltd now owns 30,921 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 12,468 shares during the period. Finally, Sei Investments Co. raised its holdings in First Horizon by 19.0% in the 2nd quarter. Sei Investments Co. now owns 507,947 shares of the financial services provider’s stock valued at $8,011,000 after acquiring an additional 81,155 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird set a $17.00 price target on First Horizon in a research note on Thursday, October 17th. Royal Bank of Canada raised their target price on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Evercore ISI lifted their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James increased their target price on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.04.

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.