23,196 Shares in First Horizon Corporation $FHN Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in shares of First Horizon Corporation (NYSE:FHN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,196 shares of the financial services provider’s stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its stake in shares of First Horizon by 2.2% during the 4th quarter. William Blair Investment Management LLC now owns 5,336,021 shares of the financial services provider’s stock worth $127,531,000 after acquiring an additional 116,191 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of First Horizon by 158.0% in the 1st quarter. Renaissance Technologies LLC now owns 540,211 shares of the financial services provider’s stock valued at $12,295,000 after purchasing an additional 330,800 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of First Horizon in the 2nd quarter valued at about $1,616,000. Vise Technologies Inc. acquired a new position in First Horizon in the 2nd quarter worth about $3,327,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in First Horizon in the 2nd quarter worth about $10,061,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling at First Horizon

In other news, EVP Elizabeth A. Ardoin sold 18,313 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total value of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares in the company, valued at $8,458,144.80. This trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is currently owned by company insiders.

First Horizon Stock Down 1.2%

FHN opened at $24.35 on Tuesday. First Horizon Corporation has a twelve month low of $19.80 and a twelve month high of $26.56. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $25.45 and a 200 day moving average price of $24.44. The company has a market cap of $11.54 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The firm had revenue of $887.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same period last year, the company posted $0.45 EPS. Sell-side analysts expect that First Horizon Corporation will post 2.15 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. First Horizon’s dividend payout ratio is presently 32.54%.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of recent analyst reports. Fundamental Research set a $28.50 price target on First Horizon in a research report on Wednesday, July 1st. Raymond James Financial boosted their price objective on First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Truist Financial upped their target price on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. decreased their target price on First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Finally, National Bank Financial set a $29.00 target price on First Horizon in a research report on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.26.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.