First Horizon Corporation $FHN Shares Sold by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC reduced its holdings in First Horizon Corporation by 8.7%, selling 12,064 shares to own 126,101 shares worth approximately $2.67 million.
• The company recently reported quarterly earnings of $0.51 per share, surpassing estimates, with revenue of $849 million, marking a 7.4% increase year-over-year.
• First Horizon declared a quarterly dividend of $0.15 per share, which equates to an annualized yield of 2.9%, with a payout ratio of 36.36%.

Focus Partners Advisor Solutions LLC lessened its holdings in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 8.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 126,101 shares of the financial services provider's stock after selling 12,064 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in First Horizon were worth $2,673,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in 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 worth $35,000 after acquiring an additional 1,095 shares during the period. Compass Financial Services Inc bought a new stake in shares of First Horizon in the 1st quarter worth $38,000. Quarry LP raised its stake in shares of First Horizon by 129.2% in the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider's stock worth $43,000 after buying an additional 1,243 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of First Horizon by 782.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,560 shares of the financial services provider's stock worth $54,000 after buying an additional 2,270 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of First Horizon by 53,160.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock worth $52,000 after buying an additional 2,658 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Up 1.6%

NYSE:FHN opened at $20.88 on Friday. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 0.84 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. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $22.27 and its 200 day moving average price is $20.90.

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

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a $0.15 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. First Horizon's payout ratio is 36.36%.

Insider Buying and Selling

In other First Horizon news, EVP David T. Popwell sold 100,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $22.50, for a total value of $2,250,000.00. Following the transaction, the executive vice president owned 462,581 shares in the company, valued at $10,408,072.50. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

FHN has been the topic of a number of research reports. Raymond James Financial set a $23.00 price objective on First Horizon in a research note on Wednesday, October 15th. Wells Fargo & Company dropped their price objective on First Horizon from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 16th. Citigroup boosted their target price on First Horizon from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. TD Cowen initiated coverage on First Horizon in a research report on Thursday, September 25th. They set a "hold" rating and a $25.00 target price on the stock. Finally, Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.47.

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.

Want to see what other hedge funds are holding FHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Horizon Corporation (NYSE:FHN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.