First Horizon Sees Unusually High Options Volume (NYSE:FHN)

First Horizon Co. (NYSE:FHN – Get Rating) saw some unusual options trading activity on Wednesday. Traders acquired 62,288 put options on the company. This is an increase of 12,904% compared to the typical volume of 479 put options.

Insider Buying and Selling at First Horizon

In other news, EVP Terry Lawson Akins sold 4,694 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $24.67, for a total transaction of $115,800.98. Following the completion of the transaction, the executive vice president now owns 145,691 shares in the company, valued at $3,594,196.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Horizon news, EVP Terry Lawson Akins sold 4,694 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $24.67, for a total value of $115,800.98. Following the completion of the transaction, the executive vice president now directly owns 145,691 shares in the company, valued at $3,594,196.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO D Bryan Jordan sold 93,157 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $24.80, for a total value of $2,310,293.60. Following the transaction, the chief executive officer now directly owns 1,396,259 shares in the company, valued at $34,627,223.20. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by corporate insiders.

Institutional Trading of First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in First Horizon by 5.4% during the 4th quarter. Allworth Financial LP now owns 8,085 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 416 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in First Horizon by 0.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 56,049 shares of the financial services provider’s stock worth $1,284,000 after purchasing an additional 426 shares during the period. CWM LLC lifted its holdings in shares of First Horizon by 9.7% during the fourth quarter. CWM LLC now owns 5,320 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 470 shares during the last quarter. CapWealth Advisors LLC increased its stake in First Horizon by 3.4% during the 2nd quarter. CapWealth Advisors LLC now owns 14,301 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 474 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of First Horizon by 3.2% in the first quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, February 18th.

First Horizon Price Performance

Shares of FHN stock opened at $22.14 on Thursday. The firm has a fifty day moving average of $24.60 and a 200-day moving average of $24.07. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.21. First Horizon has a 12-month low of $20.48 and a 12-month high of $24.92. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 2.57 and a beta of 0.93.

First Horizon (NYSE:FHN – Get Rating) last issued its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. First Horizon had a return on equity of 12.98% and a net margin of 25.66%. The company had revenue of $882.00 million during the quarter, compared to analysts’ expectations of $883.23 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities research analysts forecast that First Horizon will post 1.88 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 2.71%. First Horizon’s payout ratio is 39.22%.

About First Horizon

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First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through three segments: Regional Banking, Specialty Banking, and Corporate.