Universal Beteiligungs und Servicegesellschaft mbH Buys 22,588 Shares of First Horizon Corporation $FHN

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in First Horizon Corporation (NYSE:FHN) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 449,864 shares of the financial services provider’s stock after purchasing an additional 22,588 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of First Horizon worth $10,171,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FHN. Navigoe LLC purchased a new stake in First Horizon in the third quarter worth $25,000. Root Financial Partners LLC bought a new position in shares of First Horizon during the 3rd quarter worth $31,000. Kestra Investment Management LLC grew its stake in shares of First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the period. Geneos Wealth Management Inc. increased its holdings in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Allworth Financial LP raised its stake in First Horizon by 57.9% in the 2nd quarter. Allworth Financial LP now owns 2,064 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 757 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Transactions at First Horizon

In other news, EVP David T. Popwell sold 155,149 shares of First Horizon stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $21.31, for a total transaction of $3,306,225.19. Following the completion of the sale, the executive vice president owned 307,432 shares in the company, valued at approximately $6,551,375.92. This trade represents a 33.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jeff L. Fleming sold 7,619 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $21.74, for a total transaction of $165,637.06. Following the completion of the transaction, the chief accounting officer owned 128,626 shares in the company, valued at approximately $2,796,329.24. This trade represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $23.91 on Friday. First Horizon Corporation has a 1-year low of $15.19 and a 1-year high of $25.21. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $11.77 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The firm’s 50 day simple moving average is $23.49 and its 200 day simple moving average is $22.54.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 15th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $892.00 million during the quarter, compared to analyst estimates of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same period in the previous year, the business earned $0.43 EPS. As a group, analysts expect that First Horizon Corporation will post 1.67 earnings per share for the current fiscal year.

First Horizon announced that its board has initiated a share repurchase program on Monday, October 27th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. First Horizon’s dividend payout ratio (DPR) is presently 31.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI reiterated an “in-line” rating and set a $20.00 target price (down previously from $26.00) on shares of First Horizon in a research report on Thursday, October 16th. The Goldman Sachs Group set a $27.00 price target on shares of First Horizon and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Truist Financial set a $27.00 price objective on shares of First Horizon in a research note on Friday, January 9th. Robert W. Baird cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, JPMorgan Chase & Co. increased their target price on First Horizon from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.58.

First Horizon Profile

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.