First Horizon Co. (NYSE:FHN) Shares Acquired by Fort Sheridan Advisors LLC

Fort Sheridan Advisors LLC lifted its position in shares of First Horizon Co. (NYSE:FHNGet Rating) by 72.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,670 shares of the financial services provider’s stock after purchasing an additional 16,670 shares during the period. Fort Sheridan Advisors LLC’s holdings in First Horizon were worth $932,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FHN. National Bank of Canada FI bought a new stake in shares of First Horizon in the fourth quarter worth $31,000. Janney Montgomery Scott LLC increased its stake in shares of First Horizon by 12.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 122,920 shares of the financial services provider’s stock worth $2,007,000 after buying an additional 13,199 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of First Horizon by 77.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 67,494 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 29,457 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of First Horizon by 7.4% in the fourth quarter. Raymond James Trust N.A. now owns 39,952 shares of the financial services provider’s stock worth $652,000 after buying an additional 2,766 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in First Horizon during the fourth quarter valued at $2,303,000. 79.64% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Performance

FHN stock opened at $23.00 on Friday. The company has a market capitalization of $12.30 billion, a P/E ratio of 15.97, a PEG ratio of 2.96 and a beta of 1.06. The company has a 50-day simple moving average of $22.13 and a 200 day simple moving average of $21.64. First Horizon Co. has a fifty-two week low of $14.67 and a fifty-two week high of $24.24. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.21.

First Horizon (NYSE:FHNGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a return on equity of 12.27% and a net margin of 26.78%. During the same quarter last year, the company posted $0.58 earnings per share. Sell-side analysts predict that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, September 8th. First Horizon’s payout ratio is 41.67%.

Analysts Set New Price Targets

Several research firms have weighed in on FHN. StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. Truist Financial boosted their target price on shares of First Horizon to $25.00 in a research note on Friday, June 3rd. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.00.

Insider Buying and Selling at First Horizon

In other First Horizon news, insider Anthony J. Restel sold 153,574 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $23.01, for a total value of $3,533,737.74. Following the completion of the sale, the insider now directly owns 459,925 shares of the company’s stock, valued at approximately $10,582,874.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First Horizon news, insider Anthony J. Restel sold 153,574 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the sale, the insider now owns 459,925 shares in the company, valued at approximately $10,582,874.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Daryl G. Byrd sold 21,572 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $22.90, for a total value of $493,998.80. Following the sale, the chairman now owns 1,732,685 shares in the company, valued at approximately $39,678,486.50. The disclosure for this sale can be found here. In the last three months, insiders sold 385,377 shares of company stock valued at $8,824,237. 1.55% of the stock is owned by insiders.

First Horizon Profile

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First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

Further Reading

Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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