First Horizon Corporation $FHN Stock Sold by Capital Square LLC

Capital Square LLC trimmed its holdings in First Horizon Corporation (NYSE:FHN) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,601 shares of the financial services provider’s stock after selling 34,379 shares during the period. Capital Square LLC’s holdings in First Horizon were worth $1,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FHN. Assenagon Asset Management S.A. purchased a new stake in shares of First Horizon during the third quarter worth about $14,842,000. Reliant Investment Management LLC purchased a new position in First Horizon in the 3rd quarter worth approximately $5,214,000. Fragasso Financial Advisors Inc boosted its stake in First Horizon by 23.4% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 10,832 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 2,053 shares during the period. GAMMA Investing LLC boosted its stake in First Horizon by 2.8% in the 3rd quarter. GAMMA Investing LLC now owns 20,261 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 558 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in First Horizon by 5.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,212 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 459 shares during the period. Institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling at First Horizon

In related news, EVP Elizabeth Ardoin sold 18,313 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 340,368 shares in the company, valued at approximately $8,458,144.80. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.91% of the company’s stock.

First Horizon Price Performance

Shares of NYSE:FHN traded down $0.14 during mid-day trading on Monday, reaching $22.74. The stock had a trading volume of 2,280,188 shares, compared to its average volume of 5,462,489. The business’s 50 day moving average price is $24.15 and its 200 day moving average price is $24.53. First Horizon Corporation has a 1 year low of $20.27 and a 1 year high of $26.56. The company has a market cap of $10.77 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. First Horizon had a return on equity of 12.24% and a net margin of 14.35%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.18 million. During the same quarter last year, the business posted $0.51 EPS. Research analysts expect that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Evercore reissued a “hold” rating and issued a $25.00 target price on shares of First Horizon in a report on Thursday, October 1st. Citigroup lowered their target price on shares of First Horizon from $28.50 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. UBS Group restated a “buy” rating on shares of First Horizon in a research report on Thursday, July 16th. Finally, Raymond James Financial cut their target price on shares of First Horizon from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus 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.