First Horizon Corporation $FHN Stock Sold by Capital Square LLC

Capital Square LLC cut its stake in shares of First Horizon Corporation (NYSE:FHN) by 34.7% during the third quarter, HoldingsChannel reports. The firm owned 64,601 shares of the financial services provider’s stock after selling 34,379 shares during the quarter. Capital Square LLC’s holdings in First Horizon were worth $1,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FHN. Assenagon Asset Management S.A. bought a new stake in shares of First Horizon in the 3rd quarter valued at approximately $14,842,000. Reliant Investment Management LLC bought a new position in shares of First Horizon during the 3rd quarter valued at approximately $5,214,000. Fragasso Financial Advisors Inc increased its position in shares of First Horizon by 23.4% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 10,832 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 2,053 shares during the last quarter. GAMMA Investing LLC increased its position in shares of First Horizon by 2.8% during the 3rd quarter. GAMMA Investing LLC now owns 20,261 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 558 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in First Horizon by 5.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,212 shares of the financial services provider’s stock valued at $212,000 after buying an additional 459 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Trading Down 0.6%

FHN stock traded down $0.14 during midday trading on Monday, reaching $22.74. The company’s stock had a trading volume of 2,280,188 shares, compared to its average volume of 5,462,489. First Horizon Corporation has a 1 year low of $20.27 and a 1 year high of $26.56. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.99 and a beta of 0.61. The stock has a fifty day simple moving average of $24.15 and a two-hundred day simple moving average of $24.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.97.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, October 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.18 million. First Horizon had a net margin of 14.35% and a return on equity of 12.24%. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts predict that First Horizon Corporation will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a yield of 3.0%. First Horizon’s dividend payout ratio (DPR) is presently 48.92%.

Insider Transactions at First Horizon

In other First Horizon news, EVP Elizabeth Ardoin sold 18,313 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 340,368 shares of the company’s stock, valued at $8,458,144.80. The trade was a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FHN shares. Truist Financial raised their price target on First Horizon from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Horizon in a research note on Friday, September 4th. Fundamental Research set a $28.50 price objective on shares of First Horizon in a research report on Wednesday, July 1st. Hovde Group assumed coverage on shares of First Horizon in a research note on Thursday, September 17th. They issued a “market perform” rating and a $25.00 target price on the stock. Finally, Citigroup dropped their price target on shares of First Horizon from $28.50 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.07.

First Horizon Profile

First Horizon Corporation is a financial services company headquartered in Memphis, Tennessee, and the parent company of First Horizon Bank. The company provides banking and financial services to individuals, businesses, institutions and government entities through a network serving communities primarily across the southeastern United States.

Its offerings include consumer and commercial deposit accounts, residential and commercial lending, treasury management, payment services, personal and business banking, and wealth management.