Callan Family Office LLC Increases Stock Position in First Horizon Corporation $FHN

Key Points

• Callan Family Office LLC increased its stake in First Horizon Corporation by 181.8% during the 2nd quarter, owning 49,596 shares valued at $1,051,000.
• Analysts have mixed ratings on First Horizon stock, with a consensus rating of "Moderate Buy" and a price target of $24.94.
• First Horizon announced a quarterly dividend of $0.15 per share, representing a 2.7% yield and a payout ratio of 38.71%.

Callan Family Office LLC grew its stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 181.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,596 shares of the financial services provider's stock after buying an additional 31,997 shares during the period. Callan Family Office LLC's holdings in First Horizon were worth $1,051,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC grew its stake in shares of First Horizon by 115.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after buying an additional 830 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock valued at $35,000 after buying an additional 1,095 shares during the period. Compass Financial Services Inc purchased a new stake in shares of First Horizon during the 1st quarter valued at $38,000. Quarry LP grew its stake in shares of First Horizon by 129.2% during the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider's stock valued at $43,000 after buying an additional 1,243 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of First Horizon by 53,160.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock valued at $52,000 after buying an additional 2,658 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of First Horizon in a report on Thursday, September 25th. They set a "hold" rating and a $25.00 target price on the stock. Citigroup lifted their target price on shares of First Horizon from $25.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Truist Financial lifted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a "hold" rating in a report on Wednesday, September 24th. Raymond James Financial set a $25.00 target price on shares of First Horizon and gave the company an "outperform" rating in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.94.

First Horizon Stock Performance

NYSE:FHN opened at $22.30 on Monday. 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 50-day moving average of $22.41 and a two-hundred day moving average of $20.70. The stock has a market cap of $11.32 billion, a P/E ratio of 14.39, a PEG ratio of 0.93 and a beta of 0.67. First Horizon Corporation has a 1-year low of $15.19 and a 1-year high of $23.63.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.04. The company 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 in the prior year, the company posted $0.36 EPS. On average, research analysts expect that First Horizon Corporation will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

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

Insider Transactions at First Horizon

In other news, EVP David T. Popwell sold 100,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 462,581 shares in the company, valued at approximately $10,408,072.50. This represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Tammy Locascio sold 10,285 shares of the company's stock in a transaction dated 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 sale, the chief operating officer owned 342,051 shares in the company, valued at approximately $7,610,634.75. This trade represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,295 shares of company stock valued at $3,322,663. 1.04% of the stock is currently owned by corporate insiders.

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.

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