Amundi Sells 1,992,652 Shares of First Horizon Corporation $FHN

Amundi lowered its holdings in First Horizon Corporation (NYSE:FHN - Free Report) by 53.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,741,179 shares of the financial services provider's stock after selling 1,992,652 shares during the period. Amundi owned approximately 0.34% of First Horizon worth $33,814,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC lifted its holdings in shares of First Horizon by 1.0% during the 1st quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock worth $1,175,000 after acquiring an additional 575 shares during the period. Signaturefd LLC lifted its stake in First Horizon by 4.8% in the 1st quarter. Signaturefd LLC now owns 13,878 shares of the financial services provider's stock valued at $270,000 after purchasing an additional 635 shares during the last quarter. Tidal Investments LLC lifted its stake in First Horizon by 1.2% in the 4th quarter. Tidal Investments LLC now owns 67,390 shares of the financial services provider's stock valued at $1,357,000 after purchasing an additional 767 shares during the last quarter. Greenleaf Trust lifted its stake in First Horizon by 3.9% in the 1st quarter. Greenleaf Trust now owns 20,919 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 779 shares during the last quarter. Finally, Summit Asset Management LLC lifted its stake in First Horizon by 4.5% in the 1st quarter. Summit Asset Management LLC now owns 18,455 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 80.28% of the company's stock.

First Horizon Trading Down 0.2%

Shares of FHN traded down $0.05 during trading hours on Friday, hitting $22.55. 3,507,067 shares of the stock were exchanged, compared to its average volume of 6,966,636. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $11.45 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.07 and a beta of 0.67. The business has a 50-day moving average of $22.13 and a 200-day moving average of $20.22. First Horizon Corporation has a fifty-two week low of $14.82 and a fifty-two week high of $23.08.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. The business had revenue of $830.19 million during the quarter, compared to analysts' expectations of $832.95 million. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. During the same period last year, the company posted $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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 12th. First Horizon's dividend payout ratio (DPR) is 38.71%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Raymond James Financial reissued an "outperform" rating and issued a $24.00 price objective (up previously from $20.00) on shares of First Horizon in a research note on Tuesday, July 8th. Barclays upped their price target on shares of First Horizon from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Bank of America upped their price target on shares of First Horizon from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $24.00 price target (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.34.

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.