Insider Selling: First Horizon Co. (NYSE:FHN) EVP Sells $1,080,402.65 in Stock

First Horizon Co. (NYSE:FHN) EVP Susan L. Springfield sold 58,495 shares of the firm’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $18.47, for a total transaction of $1,080,402.65. Following the transaction, the executive vice president now owns 265,376 shares in the company, valued at approximately $4,901,494.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE:FHN opened at $19.14 on Monday. The firm has a fifty day moving average of $17.79 and a two-hundred day moving average of $15.01. The firm has a market capitalization of $10.57 billion, a P/E ratio of 12.51 and a beta of 1.55. First Horizon Co. has a 12-month low of $7.63 and a 12-month high of $19.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Tuesday, April 20th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.14. The business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $761.44 million. First Horizon had a net margin of 23.18% and a return on equity of 7.78%. During the same quarter last year, the firm earned $0.19 EPS. Equities research analysts expect that First Horizon Co. will post 0.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be issued a $0.15 dividend. The ex-dividend date is Thursday, June 10th. This represents a $0.60 annualized dividend and a yield of 3.13%. First Horizon’s dividend payout ratio (DPR) is presently 36.14%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC raised its holdings in First Horizon by 22.4% in the 1st quarter. Profund Advisors LLC now owns 46,211 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 8,472 shares during the period. Hancock Whitney Corp bought a new position in shares of First Horizon during the 1st quarter worth about $3,088,000. Richard Bernstein Advisors LLC bought a new position in shares of First Horizon during the 1st quarter worth about $1,905,000. Parallax Volatility Advisers L.P. bought a new position in shares of First Horizon during the 1st quarter worth about $393,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of First Horizon by 130.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 6,899 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 3,899 shares during the period. Hedge funds and other institutional investors own 81.93% of the company’s stock.

A number of research analysts recently commented on FHN shares. Raymond James raised their price objective on shares of First Horizon from $17.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 13th. Morgan Stanley raised their price objective on shares of First Horizon from $19.50 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 5th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.89.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. It offers general banking services for consumers, businesses, financial institutions, and governments.

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Insider Buying and Selling by Quarter for First Horizon (NYSE:FHN)

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