First Horizon Co. (NYSE:FHN) Plans Quarterly Dividend of $0.15

First Horizon Co. (NYSE:FHNGet Rating) announced a quarterly dividend on Tuesday, January 24th, RTT News reports. Shareholders of record on Friday, March 17th will be paid a dividend of 0.15 per share by the financial services provider on Monday, April 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%.

First Horizon has increased its dividend payment by an average of 2.3% per year over the last three years. First Horizon has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Horizon to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 30.0%.

First Horizon Stock Down 0.2 %

First Horizon stock opened at $24.59 on Wednesday. First Horizon has a fifty-two week low of $16.72 and a fifty-two week high of $24.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.62 and a beta of 0.93. The firm has a fifty day moving average price of $24.55 and a two-hundred day moving average price of $23.66.

First Horizon (NYSE:FHNGet Rating) last announced its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.51 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 the consensus estimate of $883.23 million. During the same quarter last year, the company earned $0.48 EPS. As a group, analysts forecast that First Horizon will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.25.

Insider Transactions at First Horizon

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

Hedge Funds Weigh In On First Horizon

Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in First Horizon during the third quarter worth about $39,000. CENTRAL TRUST Co raised its position in First Horizon by 141.7% in the third quarter. CENTRAL TRUST Co now owns 2,610 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,530 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of First Horizon by 115.5% during the first quarter. Ancora Advisors LLC now owns 3,526 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,890 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of First Horizon during the third quarter worth about $145,000. Finally, Covestor Ltd increased its stake in shares of First Horizon by 52.3% in the first quarter. Covestor Ltd now owns 7,368 shares of the financial services provider’s stock valued at $173,000 after buying an additional 2,531 shares during the period. 77.41% of the stock is owned by institutional investors.

About First Horizon

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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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Dividend History for First Horizon (NYSE:FHN)

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