First Horizon Co. (NYSE:FHN) Director Vicki R. Palmer Buys 2,000 Shares of Stock

First Horizon Co. (NYSE:FHN – Get Rating) Director Vicki R. Palmer bought 2,000 shares of the stock in a transaction on Friday, May 19th. The stock was purchased at an average price of $11.02 per share, with a total value of $22,040.00. Following the completion of the acquisition, the director now directly owns 95,650 shares in the company, valued at approximately $1,054,063. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Horizon Price Performance

FHN opened at $11.04 on Tuesday. The firm has a market capitalization of $5.94 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 2.59 and a beta of 0.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.93. The business’s 50-day moving average is $15.46 and its two-hundred day moving average is $21.13. First Horizon Co. has a 1 year low of $8.99 and a 1 year high of $24.92.

First Horizon (NYSE:FHN – Get Rating) last released its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The firm had revenue of $863.00 million during the quarter, compared to the consensus estimate of $871.36 million. First Horizon had a net margin of 24.76% and a return on equity of 13.53%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.73 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Thursday, June 15th. First Horizon’s payout ratio is presently 37.04%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America initiated coverage on shares of First Horizon in a research note on Tuesday, May 16th. They issued a “buy” rating for the company. Wells Fargo & Company raised shares of First Horizon from an “equal weight” rating to an “overweight” rating and set a $25.00 price target for the company in a research report on Friday, March 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $25.00 price objective on shares of First Horizon in a report on Wednesday, April 19th. Finally, StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a report on Saturday, May 13th.

Institutional Trading of First Horizon

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in First Horizon by 1.5% in the third quarter. Vanguard Group Inc. now owns 52,975,376 shares of the financial services provider’s stock valued at $1,213,136,000 after buying an additional 784,435 shares during the last quarter. State Street Corp grew its stake in shares of First Horizon by 15.7% during the first quarter. State Street Corp now owns 23,368,182 shares of the financial services provider’s stock worth $418,736,000 after acquiring an additional 3,173,357 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of First Horizon by 4.7% during the first quarter. Franklin Resources Inc. now owns 12,321,479 shares of the financial services provider’s stock valued at $219,076,000 after acquiring an additional 548,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of First Horizon by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,525,265 shares of the financial services provider’s stock valued at $282,369,000 after purchasing an additional 1,179,154 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new stake in First Horizon in the 4th quarter worth approximately $209,132,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

First Horizon Company Profile

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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.