Russell Investments Group Ltd. reduced its holdings in First Horizon Co. (NYSE:FHN – Get Rating) by 63.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,644 shares of the financial services provider’s stock after selling 232,874 shares during the period. Russell Investments Group Ltd.’s holdings in First Horizon were worth $3,208,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in First Horizon in the fourth quarter worth $25,000. CENTRAL TRUST Co raised its holdings in First Horizon by 116.0% in the first quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 580 shares during the period. Lazard Asset Management LLC raised its holdings in First Horizon by 173.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,728 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,096 shares during the period. Riverview Trust Co bought a new stake in shares of First Horizon during the first quarter worth $28,000. Finally, CWM LLC increased its position in shares of First Horizon by 60.8% during the first quarter. CWM LLC now owns 1,233 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 466 shares in the last quarter. 79.64% of the stock is currently owned by institutional investors and hedge funds.
First Horizon Stock Up 0.2 %
First Horizon stock opened at $23.19 on Friday. The company has a market cap of $12.40 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06. First Horizon Co. has a 1-year low of $14.67 and a 1-year high of $24.24. The company has a fifty day simple moving average of $22.14 and a 200 day simple moving average of $21.84. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21.
First Horizon (NYSE:FHN – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same quarter in the prior year, the company posted $0.58 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.
First Horizon Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, September 8th. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on FHN shares. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Friday, April 15th. Truist Financial increased their price objective on shares of First Horizon to $25.00 in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of “Hold” and a consensus target price of $22.00.
In other news, Chairman Daryl G. Byrd sold 110,773 shares of First Horizon stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $22.91, for a total value of $2,537,809.43. Following the completion of the transaction, the chairman now owns 1,732,685 shares of the company’s stock, valued at approximately $39,695,813.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Daryl G. Byrd sold 110,773 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $22.91, for a total transaction of $2,537,809.43. Following the completion of the sale, the chairman now owns 1,732,685 shares in the company, valued at approximately $39,695,813.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Daryl G. Byrd sold 99,458 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $22.71, for a total transaction of $2,258,691.18. Following the sale, the chairman now owns 1,732,685 shares of the company’s stock, valued at approximately $39,349,276.35. The disclosure for this sale can be found here. Insiders sold a total of 385,377 shares of company stock valued at $8,824,237 in the last quarter. Company insiders own 1.55% of the company’s stock.
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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.
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