10,057 Shares in First Horizon Co. (NYSE:FHN) Bought by Inspire Investing LLC

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Inspire Investing LLC bought a new position in shares of First Horizon Co. (NYSE:FHNGet Rating) during the 1st quarter, HoldingsChannel.com reports. The fund bought 10,057 shares of the financial services provider’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FHN. Crossmark Global Holdings Inc. boosted its stake in First Horizon by 31.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 40,061 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 9,560 shares in the last quarter. First Hawaiian Bank bought a new position in First Horizon during the fourth quarter worth $459,000. Stratos Wealth Partners LTD. bought a new position in First Horizon during the fourth quarter worth $166,000. Gateway Investment Advisers LLC boosted its stake in First Horizon by 3.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 115,945 shares of the financial services provider’s stock worth $1,893,000 after acquiring an additional 3,581 shares in the last quarter. Finally, Clear Street Markets LLC boosted its stake in First Horizon by 5.0% during the fourth quarter. Clear Street Markets LLC now owns 27,300 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 1,300 shares in the last quarter. 79.64% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Anthony J. Restel sold 153,574 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the completion of the sale, the insider now owns 459,925 shares in the company, valued at $10,582,874.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Daryl G. Byrd sold 99,458 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $22.71, for a total transaction of $2,258,691.18. Following the sale, the chairman now owns 1,732,685 shares of the company’s stock, valued at approximately $39,349,276.35. The disclosure for this sale can be found here. Insiders have sold 425,281 shares of company stock worth $9,732,053 over the last three months. 1.55% of the stock is owned by insiders.

FHN opened at $22.09 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50-day moving average is $22.16 and its 200 day moving average is $20.92. First Horizon Co. has a fifty-two week low of $14.67 and a fifty-two week high of $24.24. The firm has a market capitalization of $11.81 billion, a P/E ratio of 13.15, a PEG ratio of 2.88 and a beta of 1.10.

First Horizon (NYSE:FHNGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. First Horizon had a net margin of 30.72% and a return on equity of 13.82%. The company had revenue of $707.00 million for the quarter, compared to analyst estimates of $707.92 million. During the same period last year, the firm earned $0.51 earnings per share. On average, equities research analysts expect that First Horizon Co. will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, June 9th. First Horizon’s payout ratio is currently 35.71%.

A number of research analysts have weighed in on FHN shares. Truist Financial raised their price objective on shares of First Horizon to $25.00 in a research note on Friday, June 3rd. StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

First Horizon Company Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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