First Horizon Co. (NYSE:FHN) EVP David T. Popwell Sells 100,974 Shares

First Horizon Co. (NYSE:FHN) EVP David T. Popwell sold 100,974 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total value of $1,996,255.98. Following the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at $10,278,937.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Horizon Price Performance

Shares of FHN stock opened at $19.69 on Monday. The stock has a 50 day moving average price of $16.44 and a 200 day moving average price of $15.93. The firm has a market capitalization of $10.55 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.50 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.84. First Horizon Co. has a 52-week low of $10.96 and a 52-week high of $20.11.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, sell-side analysts predict that First Horizon Co. will post 1.49 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, December 13th. First Horizon’s dividend payout ratio is presently 43.48%.

First Horizon declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FHN. Royal Bank of Canada raised their target price on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wedbush cut shares of First Horizon from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $17.00 in a research note on Tuesday, September 24th. Robert W. Baird set a $17.00 target price on shares of First Horizon in a research report on Thursday, October 17th. Raymond James increased their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.38.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FHN. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of First Horizon by 24.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,400 shares of the financial services provider’s stock valued at $514,000 after buying an additional 6,500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Horizon by 48.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,595 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 38,295 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of First Horizon by 713.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 29,300 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 25,700 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of First Horizon during the first quarter valued at approximately $106,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of First Horizon by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 489,029 shares of the financial services provider’s stock valued at $7,531,000 after purchasing an additional 6,334 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.