First Horizon Corporation $FHN Shares Sold by Cwm LLC

Cwm LLC trimmed its stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,881 shares of the financial services provider's stock after selling 13,189 shares during the quarter. Cwm LLC's holdings in First Horizon were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of First Horizon by 53.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,594,944 shares of the financial services provider's stock worth $244,594,000 after purchasing an additional 4,392,405 shares during the period. Invesco Ltd. raised its position in shares of First Horizon by 78.4% during the 1st quarter. Invesco Ltd. now owns 6,755,510 shares of the financial services provider's stock worth $131,192,000 after purchasing an additional 2,968,012 shares during the period. Sculptor Capital LP raised its position in shares of First Horizon by 59.0% during the 1st quarter. Sculptor Capital LP now owns 4,867,000 shares of the financial services provider's stock worth $94,517,000 after purchasing an additional 1,806,000 shares during the period. Victory Capital Management Inc. raised its position in shares of First Horizon by 17.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,190,189 shares of the financial services provider's stock worth $61,953,000 after purchasing an additional 483,144 shares during the period. Finally, Johnson Investment Counsel Inc. raised its position in shares of First Horizon by 13.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 3,152,122 shares of the financial services provider's stock worth $66,825,000 after purchasing an additional 366,345 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

Shares of NYSE FHN opened at $20.28 on Monday. The stock has a fifty day moving average price of $22.39 and a two-hundred day moving average price of $20.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $10.30 billion, a P/E ratio of 12.29, a PEG ratio of 0.83 and a beta of 0.67. First Horizon Corporation has a 1 year low of $15.19 and a 1 year high of $23.70.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. The firm had revenue of $849.00 million during the quarter, compared to analyst estimates of $848.08 million. First Horizon had a return on equity of 11.03% and a net margin of 18.08%.The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Research analysts forecast that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 12th. First Horizon's dividend payout ratio (DPR) is presently 36.36%.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of research reports. Cowen initiated coverage on First Horizon in a research report on Wednesday, September 24th. They set a "hold" rating on the stock. Wells Fargo & Company lowered their target price on First Horizon from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods lowered their target price on First Horizon from $24.00 to $23.00 and set a "market perform" rating on the stock in a research report on Thursday. DA Davidson restated a "neutral" rating and issued a $24.00 target price on shares of First Horizon in a research report on Thursday. Finally, Citigroup raised their target price on First Horizon from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.47.

Insider Transactions at First Horizon

In other First Horizon news, EVP David T. Popwell sold 100,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.50, for a total transaction of $2,250,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.04% of the company's stock.

About First Horizon

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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