First Horizon (NYSE:FHN) EVP Elizabeth Ardoin Sells 18,313 Shares

First Horizon Corporation (NYSE:FHN) EVP Elizabeth Ardoin sold 18,313 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total value of $455,078.05. Following the completion of the transaction, the executive vice president owned 340,368 shares in the company, valued at approximately $8,458,144.80. This trade represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First Horizon Stock Performance

Shares of NYSE:FHN opened at $24.54 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96. First Horizon Corporation has a 1 year low of $19.80 and a 1 year high of $26.56. The firm has a market capitalization of $11.62 billion, a PE ratio of 11.74, a P/E/G ratio of 0.98 and a beta of 0.61. The business’s 50 day moving average price is $25.48 and its 200-day moving average price is $24.49.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $887.00 million during the quarter, compared to the consensus estimate of $878.42 million. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.During the same period in the prior year, the company earned $0.45 EPS. As a group, equities research analysts expect that First Horizon Corporation will post 2.15 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, September 11th. First Horizon’s dividend payout ratio is 32.54%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Fundamental Research set a $28.50 price target on shares of First Horizon in a research report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their target price on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Autonomous Res cut First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Wells Fargo & Company started coverage on First Horizon in a research report on Monday, August 10th. They issued an “equal weight” rating and a $28.00 price target for the company. Finally, Raymond James Financial increased their price target on First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, First Horizon has an average rating of “Hold” and a consensus price target of $27.26.

Institutional Investors Weigh In On First Horizon

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of First Horizon in the 2nd quarter valued at approximately $1,505,239,000. Bank of New York Mellon Corp acquired a new stake in shares of First Horizon during the 2nd quarter worth approximately $747,445,000. California State Teachers Retirement System raised its position in shares of First Horizon by 2,273.6% during the 2nd quarter. California State Teachers Retirement System now owns 14,208,714 shares of the financial services provider’s stock valued at $364,311,000 after buying an additional 13,610,099 shares during the period. Norges Bank acquired a new position in First Horizon in the fourth quarter valued at approximately $153,942,000. Finally, William Blair Investment Management LLC purchased a new position in First Horizon in the second quarter worth approximately $123,283,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.