Daryl G. Byrd Sells 110,773 Shares of First Horizon Co. (NYSE:FHN) Stock

First Horizon Co. (NYSE:FHNGet Rating) Chairman Daryl G. Byrd sold 110,773 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $22.91, for a total transaction of $2,537,809.43. Following the sale, the chairman now directly owns 1,732,685 shares of the company’s stock, valued at approximately $39,695,813.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of NYSE FHN traded down $0.08 during mid-day trading on Monday, reaching $22.73. 1,681,424 shares of the company’s stock were exchanged, compared to its average volume of 8,113,272. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.95 and a beta of 1.14. First Horizon Co. has a 52 week low of $14.67 and a 52 week high of $24.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a 50-day moving average price of $22.78 and a two-hundred day moving average price of $20.06.

First Horizon (NYSE:FHNGet Rating) last released its earnings results on Tuesday, April 19th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $707.92 million. First Horizon had a return on equity of 13.82% and a net margin of 30.72%. During the same period in the previous year, the business posted $0.51 EPS. As a group, sell-side analysts forecast that First Horizon Co. will post 1.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, June 9th. First Horizon’s dividend payout ratio (DPR) is currently 35.71%.

A number of institutional investors and hedge funds have recently made changes to their positions in FHN. Morgan Stanley increased its holdings in First Horizon by 118.3% in the 2nd quarter. Morgan Stanley now owns 1,140,113 shares of the financial services provider’s stock worth $19,702,000 after acquiring an additional 617,768 shares during the last quarter. Hsbc Holdings PLC increased its holdings in First Horizon by 384.2% in the 3rd quarter. Hsbc Holdings PLC now owns 182,392 shares of the financial services provider’s stock worth $2,997,000 after acquiring an additional 144,726 shares during the last quarter. HighTower Advisors LLC increased its holdings in First Horizon by 2.7% in the 3rd quarter. HighTower Advisors LLC now owns 206,840 shares of the financial services provider’s stock worth $3,366,000 after acquiring an additional 5,518 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in First Horizon by 0.8% in the 3rd quarter. Ensign Peak Advisors Inc now owns 588,075 shares of the financial services provider’s stock worth $9,580,000 after acquiring an additional 4,530 shares during the last quarter. Finally, FIL Ltd increased its holdings in First Horizon by 303.4% in the 3rd quarter. FIL Ltd now owns 76,748 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 57,725 shares during the last quarter. 79.64% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on FHN shares. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a report on Friday, April 15th. Hovde Group cut First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. Raymond James cut First Horizon from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 1st. Wedbush cut First Horizon from an “outperform” rating to a “neutral” rating in a research note on Monday, February 28th. Finally, Truist Financial raised their price objective on First Horizon to $25.00 in a research note on Friday. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, First Horizon has a consensus rating of “Hold” and a consensus target price of $21.11.

About First Horizon (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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