First Horizon Co. (NYSE:FHN – Get Rating) Chairman Daryl G. Byrd sold 99,458 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $22.71, for a total transaction of $2,258,691.18. Following the completion of the transaction, the chairman now owns 1,732,685 shares of the company’s stock, valued at $39,349,276.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NYSE FHN traded down $0.46 on Thursday, hitting $22.33. 3,091,370 shares of the company were exchanged, compared to its average volume of 7,969,392. The firm has a 50 day moving average of $22.73 and a two-hundred day moving average of $20.14. The company has a market cap of $11.94 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.97 and a beta of 1.14. 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:FHN – Get Rating) last announced its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $707.00 million during 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 prior year, the business posted $0.51 EPS. Research analysts anticipate that First Horizon Co. will post 1.51 EPS for the current fiscal year.
Several research analysts have commented on the stock. Wedbush cut shares of First Horizon from an “outperform” rating to a “neutral” rating in a report on Monday, February 28th. Truist Financial raised their target price on shares of First Horizon to $25.00 in a report on Friday, June 3rd. Wells Fargo & Company cut shares of First Horizon from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 1st. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a report on Friday, April 15th. Finally, Hovde Group cut shares of First Horizon from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.11.
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of First Horizon by 124.8% during the 4th quarter. JPMorgan Chase & Co. now owns 28,872,551 shares of the financial services provider’s stock worth $471,488,000 after purchasing an additional 16,028,243 shares during the last quarter. Segantii Capital Management Ltd acquired a new position in shares of First Horizon in the first quarter valued at approximately $253,190,000. Bank of New York Mellon Corp grew its position in shares of First Horizon by 126.3% in the first 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 during the last quarter. Norges Bank acquired a new stake in First Horizon during the fourth quarter worth approximately $82,839,000. Finally, Versor Investments LP grew its position in First Horizon by 26,171.6% during the first quarter. Versor Investments LP now owns 4,361,084 shares of the financial services provider’s stock worth $102,442,000 after buying an additional 4,344,484 shares in the last quarter. 79.64% of the stock is owned by hedge funds and other institutional investors.
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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