First Horizon Corporation (NYSE:FHN) Short Interest Update

First Horizon Corporation (NYSE:FHN) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 12,556,699 shares, an increase of 31.1% from the February 26th total of 9,574,854 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 5,979,810 shares, the days-to-cover ratio is presently 2.1 days.

First Horizon Stock Down 2.0%

NYSE:FHN traded down $0.46 during trading hours on Friday, reaching $22.09. 4,364,646 shares of the stock were exchanged, compared to its average volume of 5,870,314. First Horizon has a twelve month low of $15.19 and a twelve month high of $26.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a 50 day moving average of $23.88 and a 200 day moving average of $23.08. The stock has a market cap of $10.55 billion, a PE ratio of 11.75, a PEG ratio of 0.84 and a beta of 0.61.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $863.87 million. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts expect that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, March 13th. This is an increase from First Horizon’s previous quarterly dividend of $0.15. First Horizon’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analysts Forecast Growth

FHN has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, January 16th. Robert W. Baird cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Raymond James Financial increased their price objective on shares of First Horizon from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Weiss Ratings cut shares of First Horizon from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 17th. Finally, Stephens upped their target price on shares of First Horizon from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Horizon has a consensus rating of “Hold” and an average target price of $26.66.

Insider Activity at First Horizon

In other news, EVP Anthony J. Restel sold 5,719 shares of First Horizon stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $24.35, for a total transaction of $139,257.65. Following the transaction, the executive vice president owned 619,132 shares in the company, valued at $15,075,864.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Horizon

Large investors have recently modified their holdings of the business. Thoroughbred Financial Services LLC boosted its position in First Horizon by 3.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of First Horizon by 0.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Horizon by 1.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock valued at $963,000 after buying an additional 507 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of First Horizon by 5.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock valued at $237,000 after buying an additional 511 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in First Horizon by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after buying an additional 537 shares during the last quarter. 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.