First Horizon Corporation $FHN Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its holdings in First Horizon Corporation (NYSE:FHN) by 8.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,254 shares of the financial services provider’s stock after purchasing an additional 1,850 shares during the period. Concurrent Investment Advisors LLC’s holdings in First Horizon were worth $493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Johnson Investment Counsel Inc. lifted its stake in First Horizon by 13.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 3,152,122 shares of the financial services provider’s stock worth $66,825,000 after purchasing an additional 366,345 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of First Horizon by 3.5% in the second quarter. Inspire Investing LLC now owns 18,383 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 624 shares during the last quarter. Callan Family Office LLC lifted its position in First Horizon by 181.8% during the second quarter. Callan Family Office LLC now owns 49,596 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 31,997 shares in the last quarter. Simplicity Wealth LLC acquired a new position in First Horizon during the second quarter worth $6,615,000. Finally, Janney Montgomery Scott LLC grew its holdings in First Horizon by 12.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 37,754 shares of the financial services provider’s stock valued at $800,000 after buying an additional 4,123 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FHN has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target on First Horizon from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of First Horizon in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. TD Cowen began coverage on shares of First Horizon in a research note on Thursday, September 25th. They issued a “hold” rating and a $25.00 price target for the company. Finally, Jefferies Financial Group set a $25.00 price target on shares of First Horizon and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

Insiders Place Their Bets

In other news, EVP David T. Popwell sold 100,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total value of $2,250,000.00. Following the completion of the transaction, the executive vice president owned 462,581 shares in the company, valued at approximately $10,408,072.50. This represents a 17.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

First Horizon Trading Up 1.7%

NYSE FHN opened at $20.28 on Friday. The firm has a 50 day simple moving average of $22.39 and a 200-day simple moving average of $20.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Corporation has a one year low of $15.19 and a one year high of $23.70. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.83 and a beta of 0.67.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $848.08 million. First Horizon had a net margin of 18.08% and a return on equity of 11.03%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, September 12th. First Horizon’s dividend payout ratio (DPR) is 36.36%.

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.