First Horizon Co. (NYSE:FHN – Get Rating) Chairman Daryl G. Byrd sold 21,572 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $22.90, for a total transaction of $493,998.80. Following the completion of the sale, the chairman now directly owns 1,732,685 shares of the company’s stock, valued at $39,678,486.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of NYSE FHN traded up $0.19 during mid-day trading on Tuesday, reaching $22.92. The company had a trading volume of 2,764,728 shares, compared to its average volume of 8,063,749. The stock has a fifty day moving average of $22.76 and a two-hundred day moving average of $20.10. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.95 and a beta of 1.14. First Horizon Co. has a 12-month low of $14.67 and a 12-month high of $24.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.94 and a current ratio of 0.95.
First Horizon (NYSE:FHN – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $707.00 million for the quarter, compared to the consensus estimate of $707.92 million. First Horizon had a net margin of 30.72% and a return on equity of 13.82%. During the same period in the prior year, the business posted $0.51 earnings per share. Sell-side analysts forecast that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in First Horizon by 124.8% during the fourth quarter. JPMorgan Chase & Co. now owns 28,872,551 shares of the financial services provider’s stock valued at $471,488,000 after acquiring an additional 16,028,243 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in shares of First Horizon during the 1st quarter worth $253,190,000. Bank of New York Mellon Corp raised its holdings in shares of First Horizon by 126.3% during the 1st quarter. Bank of New York Mellon Corp now owns 14,759,941 shares of the financial services provider’s stock valued at $346,710,000 after purchasing an additional 8,237,557 shares in the last quarter. Norges Bank acquired a new stake in shares of First Horizon in the 4th quarter valued at $82,839,000. Finally, Versor Investments LP boosted its holdings in First Horizon by 26,171.6% in the first quarter. Versor Investments LP now owns 4,361,084 shares of the financial services provider’s stock worth $102,442,000 after purchasing an additional 4,344,484 shares in the last quarter. 79.64% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on FHN. Hovde Group downgraded First Horizon from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 2nd. Jefferies Financial Group lowered First Horizon from a “buy” rating to a “hold” rating and lifted their target price for the stock from $22.00 to $25.00 in a report on Monday, March 7th. Truist Financial upped their price target on shares of First Horizon to $25.00 in a report on Friday. Keefe, Bruyette & Woods lowered shares of First Horizon from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $21.00 to $25.00 in a research report on Monday, March 7th. Finally, StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.
- Get a free copy of the StockNews.com research report on First Horizon (FHN)
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