Cwm LLC Grows Stock Position in First Horizon Co. (NYSE:FHN)

Cwm LLC boosted its stake in First Horizon Co. (NYSE:FHNGet Rating) by 83.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,850 shares of the financial services provider’s stock after acquiring an additional 2,203 shares during the quarter. Cwm LLC’s holdings in First Horizon were worth $111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its stake in shares of First Horizon by 16.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 85,319 shares of the financial services provider’s stock valued at $1,954,000 after buying an additional 11,900 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of First Horizon during the 3rd quarter valued at approximately $4,352,000. Wipfli Financial Advisors LLC purchased a new position in shares of First Horizon during the 3rd quarter valued at approximately $4,318,000. Raymond James & Associates boosted its stake in shares of First Horizon by 6.0% during the 3rd quarter. Raymond James & Associates now owns 682,215 shares of the financial services provider’s stock valued at $15,623,000 after buying an additional 38,472 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of First Horizon by 10.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 666,804 shares of the financial services provider’s stock valued at $15,270,000 after buying an additional 65,616 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.25.

First Horizon Stock Performance

Shares of FHN opened at $24.51 on Wednesday. The business’s fifty day moving average price is $24.52 and its 200 day moving average price is $23.57. First Horizon Co. has a 12-month low of $16.51 and a 12-month high of $24.92. The stock has a market capitalization of $13.16 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.93.

First Horizon (NYSE:FHNGet Rating) last announced its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). First Horizon had a return on equity of 12.37% and a net margin of 26.45%. The firm had revenue of $875.00 million for the quarter, compared to the consensus estimate of $819.83 million. During the same quarter last year, the business earned $0.50 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.63 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, December 15th. First Horizon’s dividend payout ratio (DPR) is presently 40.54%.

Insiders Place Their Bets

In other First Horizon news, COO Tammy Locascio sold 36,228 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $24.34, for a total value of $881,789.52. Following the sale, the chief operating officer now directly owns 169,290 shares of the company’s stock, valued at $4,120,518.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other First Horizon news, COO Tammy Locascio sold 36,228 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $24.34, for a total value of $881,789.52. Following the sale, the chief operating officer now directly owns 169,290 shares of the company’s stock, valued at $4,120,518.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David T. Popwell sold 139,637 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $24.75, for a total value of $3,456,015.75. Following the completion of the sale, the insider now directly owns 527,091 shares in the company, valued at $13,045,502.25. The disclosure for this sale can be found here. 1.55% of the stock is owned by corporate 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.

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

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