Insider Selling: First Horizon Corporation (NYSE:FHN) EVP Sells 38,010 Shares of Stock

First Horizon Corporation (NYSE:FHN - Get Free Report) EVP David T. Popwell sold 38,010 shares of First Horizon 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 sale, the executive vice president owned 550,011 shares of the company's stock, valued at $12,210,244.20. The trade was a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

First Horizon Trading Up 2.6%

NYSE FHN traded up $0.57 during mid-day trading on Friday, reaching $22.79. 7,218,611 shares of the stock were exchanged, compared to its average volume of 6,111,475. First Horizon Corporation has a 1-year low of $14.34 and a 1-year high of $22.83. The business's fifty day simple moving average is $20.73 and its 200 day simple moving average is $20.05. The stock has a market capitalization of $11.56 billion, a PE ratio of 14.68, a PEG ratio of 1.07 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96.

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 analysts' consensus estimates of $0.41 by $0.04. The company had revenue of $830.19 million for the quarter, compared to analyst estimates 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 business earned $0.36 EPS. On average, research analysts anticipate that First Horizon Corporation will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, June 13th. First Horizon's dividend payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FHN shares. Wall Street Zen upgraded First Horizon from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Truist Financial boosted their target price on First Horizon from $21.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Bank of America boosted their price target on shares of First Horizon from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Citigroup boosted their target price on shares of First Horizon from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.28.

Hedge Funds Weigh In On First Horizon

A number of hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC increased its stake in First Horizon by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 90,629 shares of the financial services provider's stock worth $1,922,000 after buying an additional 14,107 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of First Horizon by 8.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 23,254 shares of the financial services provider's stock worth $493,000 after purchasing an additional 1,850 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in shares of First Horizon by 13.2% in 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 last quarter. Inspire Investing LLC increased its position in shares of First Horizon by 3.5% in the 2nd 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. Finally, Callan Family Office LLC increased its position in shares of First Horizon by 181.8% in the 2nd quarter. Callan Family Office LLC now owns 49,596 shares of the financial services provider's stock worth $1,051,000 after purchasing an additional 31,997 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

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.