Gries Financial LLC Sells 1,225 Shares of First Horizon Corporation $FHN

Gries Financial LLC cut its position in shares of First Horizon Corporation (NYSE:FHN) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,391 shares of the financial services provider’s stock after selling 1,225 shares during the period. Gries Financial LLC’s holdings in First Horizon were worth $305,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC boosted its stake in First Horizon by 1.0% during the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider’s stock worth $1,175,000 after buying an additional 575 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of First Horizon by 4.8% during the 1st quarter. Signaturefd LLC now owns 13,878 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 635 shares during the period. Greenleaf Trust boosted its position in shares of First Horizon by 3.9% during the 1st quarter. Greenleaf Trust now owns 20,919 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 779 shares in the last quarter. Summit Asset Management LLC increased its stake in First Horizon by 4.5% in the first quarter. Summit Asset Management LLC now owns 18,455 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 788 shares during the period. Finally, Callan Family Office LLC raised its position in First Horizon by 4.9% in the first quarter. Callan Family Office LLC now owns 17,599 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 818 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of recent research reports. Citigroup lifted their price objective on First Horizon from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 price target (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on First Horizon from $20.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Finally, Truist Financial upped their target price on shares of First Horizon from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and a consensus price target of $23.77.

Insider Buying and Selling

In related news, COO Tammy Locascio sold 10,285 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $22.25, for a total value of $228,841.25. Following the completion of the transaction, the chief operating officer owned 342,051 shares in the company, valued at $7,610,634.75. The trade was a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David T. Popwell sold 100,000 shares of the 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 $10,408,072.50. The trade was a 17.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 148,295 shares of company stock valued at $3,322,663. 1.04% of the stock is currently owned by company insiders.

First Horizon Price Performance

First Horizon stock opened at $22.63 on Wednesday. The business’s fifty day moving average is $22.26 and its two-hundred day moving average is $20.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $11.49 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.08 and a beta of 0.67. First Horizon Corporation has a 52 week low of $14.82 and a 52 week high of $23.26.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $830.19 million during the quarter, compared to analysts’ expectations of $832.95 million. First Horizon had a return on equity of 10.55% and a net margin of 17.10%.During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 12th. First Horizon’s dividend payout ratio is 38.71%.

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.