Mutual of America Capital Management LLC Sells 17,445 Shares of First Horizon Corporation $FHN

Key Points

• Mutual of America Capital Management LLC reduced its ownership in First Horizon Corporation by 6.5%, selling 17,445 shares and bringing its total holdings to 252,250 shares valued at $5,348,000.
• Analysts have varying perspectives on First Horizon, with recommendations ranging from "Buy" to "Hold," and price targets set between $23.00 and $27.00, reflecting differing outlooks on the company's performance.
• First Horizon recently declared a quarterly dividend of $0.15 per share, with an annualized yield of 2.9%, and reported earnings per share of $0.51 for the latest quarter, beating consensus estimates.

Mutual of America Capital Management LLC lowered its stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,250 shares of the financial services provider's stock after selling 17,445 shares during the period. Mutual of America Capital Management LLC's holdings in First Horizon were worth $5,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC boosted its stake in First Horizon by 1.0% during the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock valued at $1,175,000 after buying an additional 575 shares during the last quarter. Inspire Investing LLC increased its position in First Horizon by 3.5% in the second quarter. Inspire Investing LLC now owns 18,383 shares of the financial services provider's stock worth $390,000 after purchasing an additional 624 shares during the last quarter. Signaturefd LLC increased its position in First Horizon by 4.8% in the first quarter. Signaturefd LLC now owns 13,878 shares of the financial services provider's stock worth $270,000 after purchasing an additional 635 shares during the last quarter. Greenleaf Trust increased its position in First Horizon by 3.9% in the first quarter. Greenleaf Trust now owns 20,919 shares of the financial services provider's stock worth $406,000 after purchasing an additional 779 shares during the last quarter. Finally, Summit Asset Management LLC increased its position in First Horizon by 4.5% in the first quarter. Summit Asset Management LLC now owns 18,455 shares of the financial services provider's stock worth $358,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 80.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of First Horizon from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of First Horizon from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, October 16th. TD Cowen assumed coverage on shares of First Horizon in a research report on Thursday, September 25th. They issued a "hold" rating and a $25.00 price target on the stock. Citigroup boosted their price target on shares of First Horizon from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of First Horizon in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.47.

Insiders Place Their Bets

In other First Horizon news, EVP David T. Popwell sold 100,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.04% of the stock is owned by company insiders.

First Horizon Trading Up 1.2%

FHN stock opened at $20.79 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a twelve month low of $15.19 and a twelve month high of $23.70. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.84 and a beta of 0.67. The firm's fifty day simple moving average is $22.35 and its two-hundred day simple moving average is $20.81.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. First Horizon had a net margin of 18.08% and a return on equity of 11.03%. The business had revenue of $849.00 million for the quarter, compared to analysts' expectations of $848.08 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that First Horizon Corporation will post 1.67 earnings per share for the current 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 dividend of $0.15 per share. 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%.

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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