First Horizon Co. (NYSE:FHN) Shares Sold by Choreo LLC

Choreo LLC decreased its holdings in First Horizon Co. (NYSE:FHN) by 11.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,132 shares of the financial services provider’s stock after selling 6,247 shares during the period. Choreo LLC’s holdings in First Horizon were worth $997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FHN. Truist Financial Corp grew its stake in shares of First Horizon by 48.9% in the second quarter. Truist Financial Corp now owns 65,402 shares of the financial services provider’s stock valued at $1,031,000 after buying an additional 21,475 shares in the last quarter. Cetera Investment Advisers grew its position in First Horizon by 79.7% in the second quarter. Cetera Investment Advisers now owns 105,574 shares of the financial services provider’s stock valued at $1,665,000 after acquiring an additional 46,812 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in First Horizon in the second quarter valued at approximately $312,000. GAMMA Investing LLC lifted its position in shares of First Horizon by 26.1% during the third quarter. GAMMA Investing LLC now owns 8,242 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,707 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of First Horizon by 70.6% in the third quarter. CWM LLC now owns 99,157 shares of the financial services provider’s stock valued at $1,540,000 after purchasing an additional 41,050 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Trading Down 0.3 %

First Horizon stock opened at $22.33 on Monday. First Horizon Co. has a 1 year low of $13.46 and a 1 year high of $22.43. The firm’s 50-day moving average is $20.74 and its 200-day moving average is $18.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $11.84 billion, a P/E ratio of 16.42, a PEG ratio of 1.26 and a beta of 0.92.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping 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 company earned $0.32 EPS. On average, equities analysts expect that First Horizon Co. will post 1.64 earnings per share for the current year.

First Horizon announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.69%. First Horizon’s payout ratio is currently 44.12%.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FHN has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted 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. Stephens reaffirmed an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company upped their target price on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.04.

First Horizon 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.