D Bryan Jordan Sells 109,980 Shares of First Horizon Co. (NYSE:FHN) Stock

First Horizon Co. (NYSE:FHN) CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

First Horizon Stock Up 0.7 %

Shares of NYSE FHN opened at $21.05 on Friday. The firm has a market cap of $11.16 billion, a PE ratio of 15.48, a P/E/G ratio of 1.19 and a beta of 0.92. First Horizon Co. has a 12-month low of $13.45 and a 12-month high of $21.82. The company’s fifty day simple moving average is $20.53 and its 200 day simple moving average is $17.88. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.32 EPS. As a group, sell-side analysts forecast that First Horizon Co. will post 1.63 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, December 13th. First Horizon’s dividend payout ratio is presently 44.12%.

First Horizon declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the last quarter. Nemes Rush Group LLC raised its holdings in First Horizon by 306.2% during the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,378 shares during the last quarter. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after buying an additional 884 shares during the last quarter. Covestor Ltd raised its holdings in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after buying an additional 651 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in First Horizon during the third quarter worth $36,000. 80.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. JPMorgan Chase & Co. upped their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Bank of America upped their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.04.

About First Horizon

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.