Keebeck Alpha LP Takes $761,000 Position in First Horizon Co. (NYSE:FHN)

Keebeck Alpha LP acquired a new position in First Horizon Co. (NYSE:FHNGet Rating) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 32,383 shares of the financial services provider’s stock, valued at approximately $761,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CWM LLC boosted its holdings in First Horizon by 60.8% in the 1st quarter. CWM LLC now owns 1,233 shares of the financial services provider’s stock worth $29,000 after buying an additional 466 shares during the period. Brandywine Oak Private Wealth LLC boosted its holdings in First Horizon by 3.1% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 16,102 shares of the financial services provider’s stock worth $378,000 after buying an additional 484 shares during the period. Investors Research Corp boosted its holdings in First Horizon by 0.7% in the 1st quarter. Investors Research Corp now owns 68,250 shares of the financial services provider’s stock valued at $1,603,000 after purchasing an additional 500 shares during the period. Quadrant Capital Group LLC boosted its holdings in First Horizon by 20.8% in the 1st quarter. Quadrant Capital Group LLC now owns 3,035 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 522 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in First Horizon by 116.0% in the 1st quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 580 shares during the period. 79.64% of the stock is owned by institutional investors.

First Horizon Trading Down 0.4 %

Shares of FHN opened at $23.10 on Wednesday. The firm’s 50-day moving average price is $22.16 and its 200-day moving average price is $21.95. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 3.00 and a beta of 1.06. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. First Horizon Co. has a 1-year low of $14.67 and a 1-year high of $24.24.

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

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, September 8th. First Horizon’s payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, insider Anthony J. Restel sold 153,574 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were 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 of the company’s stock, valued at $10,582,874.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First Horizon news, Chairman Daryl G. Byrd sold 99,458 shares of First Horizon stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $22.71, for a total value of $2,258,691.18. Following the completion of the transaction, the chairman now directly owns 1,732,685 shares of the company’s stock, valued at $39,349,276.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony J. Restel sold 153,574 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the transaction, the insider now directly owns 459,925 shares of the company’s stock, valued at $10,582,874.25. The disclosure for this sale can be found here. Insiders have sold 385,377 shares of company stock valued at $8,824,237 over the last quarter. Corporate insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their price target on shares of First Horizon to $25.00 in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.00.

First Horizon Company Profile

(Get Rating)

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.

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

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