David T. Popwell Sells 100,974 Shares of First Horizon Co. (NYSE:FHN) Stock

First Horizon Co. (NYSE:FHN) EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares in the company, valued at approximately $10,278,937.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Horizon Price Performance

NYSE:FHN traded up $0.08 during mid-day trading on Friday, reaching $19.69. The stock had a trading volume of 7,643,729 shares, compared to its average volume of 6,628,967. First Horizon Co. has a 12 month low of $10.96 and a 12 month high of $20.11. The stock has a market capitalization of $10.55 billion, a PE ratio of 14.17, a P/E/G ratio of 1.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.84 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $16.37 and a two-hundred day simple moving average of $15.88.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same quarter last year, the business posted $0.27 EPS. On average, equities analysts anticipate that First Horizon Co. will post 1.48 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. 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 3.05%. First Horizon’s dividend payout ratio (DPR) is presently 43.48%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FHN shares. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Evercore ISI lifted 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. Royal Bank of Canada raised their price target on First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James lifted their target price on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and an average price target of $18.38.

Hedge Funds Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently made changes to their positions in FHN. UMB Bank n.a. increased its position in shares of 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 period. Family Firm Inc. bought a new position in shares of First Horizon in the 2nd quarter worth about $28,000. Nemes Rush Group LLC lifted its stake in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,378 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of First Horizon during the 2nd quarter valued at about $31,000. Finally, Covestor Ltd grew its stake 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 purchasing an additional 651 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

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.