Capital Square LLC Sells 2,825 Shares of First Horizon Co. (NYSE:FHN)

Capital Square LLC trimmed its position in First Horizon Co. (NYSE:FHN) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,991 shares of the financial services provider’s stock after selling 2,825 shares during the period. First Horizon accounts for 1.2% of Capital Square LLC’s investment portfolio, making the stock its 19th biggest position. Capital Square LLC’s holdings in First Horizon were worth $2,003,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FHN. Price T Rowe Associates Inc. MD grew its holdings in shares of First Horizon by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider’s stock worth $4,767,000 after purchasing an additional 17,329 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of First Horizon in the 1st quarter worth $505,000. EJF Capital LLC increased its holdings in shares of First Horizon by 43.3% in the 1st quarter. EJF Capital LLC now owns 234,487 shares of the financial services provider’s stock worth $3,611,000 after buying an additional 70,830 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of First Horizon during the 1st quarter valued at $207,000. Finally, Algebris UK Ltd bought a new stake in shares of First Horizon during the 1st quarter worth $5,749,000. 80.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stephens lifted their price target on First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI upped their target price on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Raymond James lifted their price target on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Barclays boosted their price objective on shares of First Horizon from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

First Horizon Stock Up 3.2 %

Shares of FHN traded up $0.67 on Monday, hitting $21.60. 751,649 shares of the stock traded hands, compared to its average volume of 6,585,789. The company has a market capitalization of $11.45 billion, a PE ratio of 15.17, a P/E/G ratio of 1.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The business has a 50 day simple moving average of $17.32 and a 200 day simple moving average of $16.27. First Horizon Co. has a one year low of $11.87 and a one year high of $21.72.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. During the same quarter last year, the company earned $0.27 EPS. As a group, equities analysts forecast that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.78%. First Horizon’s dividend payout ratio is presently 43.48%.

First Horizon announced that its board has initiated a stock buyback plan on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at First Horizon

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. This represents a 16.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.