Tammy Locascio Sells 10,285 Shares of First Horizon Corporation (NYSE:FHN) Stock

First Horizon Corporation (NYSE:FHN - Get Free Report) COO Tammy Locascio sold 10,285 shares of First Horizon stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $22.25, for a total value of $228,841.25. Following the sale, the chief operating officer directly owned 342,051 shares in the company, valued at $7,610,634.75. The trade was a 2.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

First Horizon Trading Up 0.5%

NYSE:FHN traded up $0.11 on Wednesday, reaching $22.55. The company's stock had a trading volume of 6,407,008 shares, compared to its average volume of 6,012,985. First Horizon Corporation has a 1-year low of $14.34 and a 1-year high of $22.84. 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 $11.44 billion, a PE ratio of 14.55, a PEG ratio of 1.06 and a beta of 0.61. The business's 50-day moving average price is $20.65 and its two-hundred day moving average price is $20.02.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.04. First Horizon had a return on equity of 10.55% and a net margin of 17.10%. The firm had revenue of $830.19 million during the quarter, compared to analysts' expectations of $832.95 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities 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. Shareholders of record on Friday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.66%. First Horizon's payout ratio is 38.71%.

Institutional Trading of First Horizon

A number of institutional investors have recently modified their holdings of FHN. Farther Finance Advisors LLC lifted its holdings in shares of First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 591 shares in the last quarter. Xponance Inc. lifted its holdings in shares of First Horizon by 4.8% in the fourth quarter. Xponance Inc. now owns 61,171 shares of the financial services provider's stock valued at $1,232,000 after purchasing an additional 2,804 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of First Horizon in the fourth quarter valued at about $122,000. Teacher Retirement System of Texas lifted its holdings in shares of First Horizon by 31.4% in the fourth quarter. Teacher Retirement System of Texas now owns 201,416 shares of the financial services provider's stock valued at $4,057,000 after purchasing an additional 48,177 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in First Horizon during the fourth quarter worth about $50,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FHN shares. Bank of America lifted their price objective on First Horizon from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods cut their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Truist Financial raised their target price on First Horizon from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their target price on First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.28.

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.