First Horizon Co. (NYSE:FHN) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its position in First Horizon Co. (NYSE:FHN) by 24.6% in the 4th quarter, Holdings Channel reports. The fund owned 19,945 shares of the financial services provider’s stock after selling 6,501 shares during the period. Inspire Investing LLC’s holdings in First Horizon were worth $402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. boosted its holdings in First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of First Horizon by 13.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after buying an additional 100,359 shares during the period. Allen Capital Group LLC boosted its stake in shares of First Horizon by 128.4% in the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after buying an additional 29,581 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in First Horizon by 10.1% during the third quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock worth $7,229,000 after acquiring an additional 42,793 shares during the period. Finally, Entropy Technologies LP acquired a new stake in First Horizon in the third quarter valued at $2,669,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FHN shares. Evercore ISI upped their price target on shares of First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Barclays boosted their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Bank of America raised their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company boosted their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now directly owns 519,926 shares in the company, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,954 shares of company stock valued at $4,519,333 over the last quarter. Company insiders own 0.87% of the company’s stock.

First Horizon Price Performance

FHN stock opened at $21.05 on Friday. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The stock’s fifty day simple moving average is $20.53 and its 200-day simple moving average is $17.90. First Horizon Co. has a 52-week low of $13.45 and a 52-week high of $21.82. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the business posted $0.32 earnings per share. Equities research analysts expect that First Horizon Co. will post 1.63 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given 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 (DPR) is 44.12%.

First Horizon declared that its Board of Directors has approved a stock repurchase 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 reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

First Horizon Profile

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.