First Horizon Corporation $FHN Shares Purchased by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC grew its stake in First Horizon Corporation (NYSE:FHN) by 231.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,943 shares of the financial services provider’s stock after buying an additional 17,408 shares during the quarter. HHM Wealth Advisors LLC’s holdings in First Horizon were worth $529,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC increased its position in shares of First Horizon by 2.2% in the 1st quarter. Choreo LLC now owns 50,236 shares of the financial services provider’s stock valued at $983,000 after purchasing an additional 1,104 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in First Horizon in the first quarter valued at $618,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in First Horizon by 25.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 427,903 shares of the financial services provider’s stock valued at $8,310,000 after buying an additional 87,403 shares in the last quarter. Summit Asset Management LLC increased its holdings in shares of First Horizon by 4.5% in the 1st quarter. Summit Asset Management LLC now owns 18,455 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 788 shares during the last quarter. Finally, AE Wealth Management LLC lifted its stake in First Horizon by 2,953.2% during the first quarter. AE Wealth Management LLC now owns 456,936 shares of the financial services provider’s stock worth $8,874,000 after purchasing an additional 441,970 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

First Horizon stock opened at $20.78 on Wednesday. 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 business has a 50 day simple moving average of $21.88 and a 200-day simple moving average of $21.39. First Horizon Corporation has a 12 month low of $15.19 and a 12 month high of $23.70. The stock has a market capitalization of $10.23 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.70.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. First Horizon had a net margin of 18.08% and a return on equity of 11.03%. The company had revenue of $893.00 million during the quarter, compared to the consensus estimate of $848.08 million. During the same quarter in the prior year, the firm earned $0.42 EPS. First Horizon’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts predict that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. First Horizon’s dividend payout ratio (DPR) is 36.36%.

First Horizon announced that its board has approved a share buyback program on Monday, October 27th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday. Cowen began coverage on shares of First Horizon in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Raymond James Financial set a $23.00 price objective on shares of First Horizon in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods cut their target price on First Horizon from $24.00 to $23.00 and set a “market perform” rating on the stock in a research report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Horizon in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.41.

Insider Buying and Selling at First Horizon

In other First Horizon news, EVP David T. Popwell sold 155,149 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $21.31, for a total transaction of $3,306,225.19. Following the transaction, the executive vice president directly owned 307,432 shares in the company, valued at approximately $6,551,375.92. This represents a 33.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeff L. Fleming sold 7,619 shares of First Horizon stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $21.74, for a total transaction of $165,637.06. Following the sale, the chief accounting officer owned 128,626 shares of the company’s stock, valued at approximately $2,796,329.24. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 262,768 shares of company stock worth $5,721,862 over the last 90 days. Insiders own 0.87% of the company’s stock.

First Horizon Profile

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.