First Horizon Co. (NYSE:FHN) Chairman Sells $1,365,971.49 in Stock
First Horizon Co. (NYSE:FHN) Chairman Daryl G. Byrd sold 90,883 shares of the company’s stock in a transaction on Thursday, January 7th. The shares were sold at an average price of $15.03, for a total transaction of $1,365,971.49. Following the completion of the transaction, the chairman now owns 1,524,021 shares in the company, valued at $22,906,035.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
FHN opened at $14.90 on Thursday. First Horizon Co. has a twelve month low of $6.27 and a twelve month high of $17.40. The company has a 50-day simple moving average of $13.10 and a 200 day simple moving average of $10.77. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 9.74 and a beta of 1.54.
First Horizon (NYSE:FHN) last posted its quarterly earnings data on Friday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.18. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $853.23 million. First Horizon had a net margin of 23.18% and a return on equity of 7.78%. During the same quarter in the prior year, the business posted $0.43 earnings per share. Sell-side analysts anticipate that First Horizon Co. will post 0.94 EPS for the current fiscal year.
Several research firms have commented on FHN. Morgan Stanley upped their price objective on shares of First Horizon from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, January 7th. Raymond James upped their price objective on shares of First Horizon from $13.00 to $17.00 and gave the company a “strong-buy” rating in a report on Thursday, January 7th. Zacks Investment Research upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, December 29th. Jefferies Financial Group upgraded shares of First Horizon from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, October 8th. Finally, TheStreet upgraded shares of First Horizon from a “c+” rating to a “b-” rating in a research note on Thursday, November 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. First Horizon presently has a consensus rating of “Buy” and an average target price of $13.15.
Several hedge funds have recently bought and sold shares of FHN. Lindbrook Capital LLC lifted its holdings in shares of First Horizon by 550.5% in the third quarter. Lindbrook Capital LLC now owns 2,771 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 2,345 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in First Horizon by 226.4% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,275 shares of the financial services provider’s stock valued at $50,000 after buying an additional 3,659 shares during the last quarter. CI Investments Inc. bought a new position in First Horizon in the 3rd quarter valued at approximately $54,000. Berman Capital Advisors LLC raised its holdings in First Horizon by 111.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 6,396 shares of the financial services provider’s stock valued at $60,000 after buying an additional 3,369 shares during the last quarter. Finally, Bollard Group LLC bought a new position in First Horizon in the 3rd quarter valued at approximately $60,000.
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 four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. It offers general banking services for consumers, businesses, financial institutions, and governments.
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