Natixis Advisors LLC Boosts Stock Position in First Horizon Corporation (NYSE:FHN)

Natixis Advisors LLC increased its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 321,795 shares of the financial services provider's stock after acquiring an additional 20,218 shares during the quarter. Natixis Advisors LLC owned about 0.06% of First Horizon worth $6,249,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC lifted its position in shares of First Horizon by 4.4% in the 4th quarter. LPL Financial LLC now owns 164,501 shares of the financial services provider's stock worth $3,313,000 after purchasing an additional 6,931 shares during the period. Aster Capital Management DIFC Ltd raised its stake in First Horizon by 18,310.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 10,678 shares of the financial services provider's stock worth $215,000 after buying an additional 10,620 shares during the last quarter. Invesco Ltd. lifted its holdings in First Horizon by 20.9% in the fourth quarter. Invesco Ltd. now owns 3,787,498 shares of the financial services provider's stock valued at $76,280,000 after buying an additional 654,642 shares during the period. FIL Ltd boosted its position in First Horizon by 33.1% during the fourth quarter. FIL Ltd now owns 807,802 shares of the financial services provider's stock valued at $16,269,000 after acquiring an additional 200,927 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in First Horizon by 32.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,068,111 shares of the financial services provider's stock valued at $21,512,000 after acquiring an additional 264,000 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Horizon

In other First Horizon news, EVP David T. Popwell sold 38,010 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $22.20, for a total transaction of $843,822.00. Following the transaction, the executive vice president directly owned 550,011 shares in the company, valued at approximately $12,210,244.20. This trade represents a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tammy Locascio sold 10,285 shares of First Horizon stock in a transaction on Friday, July 18th. The stock was sold at an average price of $22.25, for a total transaction of $228,841.25. Following the transaction, the chief operating officer directly owned 342,051 shares in the company, valued at $7,610,634.75. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company's stock.

First Horizon Stock Down 1.4%

Shares of First Horizon stock traded down $0.30 during trading hours on Wednesday, reaching $21.38. The company's stock had a trading volume of 9,001,958 shares, compared to its average volume of 9,472,194. 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 stock's fifty day simple moving average is $21.06 and its two-hundred day simple moving average is $20.11. The company has a market capitalization of $10.85 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.03 and a beta of 0.65. First Horizon Corporation has a one year low of $14.60 and a one year high of $23.00.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $830.19 million for 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 quarter last year, the firm earned $0.36 EPS. On average, research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, September 12th. This represents a $0.60 annualized dividend and a yield of 2.8%. First Horizon's dividend payout ratio is 38.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FHN shares. Citigroup lifted their price objective on First Horizon from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods dropped their price target on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $24.00 price objective (up previously from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Bank of America lifted their price objective on shares of First Horizon from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.28.

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.