First Horizon Co. (NYSE:FHN) is Azora Capital LP's 7th Largest Position

Azora Capital LP decreased its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 22.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,579,156 shares of the financial services provider's stock after selling 1,605,650 shares during the period. First Horizon comprises approximately 4.7% of Azora Capital LP's investment portfolio, making the stock its 7th biggest holding. Azora Capital LP owned about 1.05% of First Horizon worth $86,644,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FHN. Price T Rowe Associates Inc. MD raised its stake in First Horizon by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider's stock worth $4,767,000 after buying an additional 17,329 shares in the last quarter. Tidal Investments LLC bought a new position in First Horizon in the first quarter worth approximately $207,000. Cetera Advisors LLC raised its stake in First Horizon by 54.6% in the first quarter. Cetera Advisors LLC now owns 28,590 shares of the financial services provider's stock worth $440,000 after buying an additional 10,103 shares in the last quarter. GAMMA Investing LLC raised its stake in First Horizon by 30.8% in the second quarter. GAMMA Investing LLC now owns 6,535 shares of the financial services provider's stock worth $103,000 after buying an additional 1,538 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in First Horizon by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 46,608 shares of the financial services provider's stock worth $735,000 after buying an additional 34,011 shares in the last quarter. Institutional investors own 80.28% of the company's stock.

Analyst Ratings Changes

FHN has been the topic of a number of recent analyst reports. Robert W. Baird set a $17.00 price target on First Horizon in a research report on Thursday, October 17th. Stephens upped their price target on First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Wedbush downgraded First Horizon from an "outperform" rating to a "neutral" rating and cut their target price for the company from $20.00 to $17.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on First Horizon from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays upped their target price on First Horizon from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.08.

First Horizon Stock Performance

NYSE:FHN traded down $0.40 during mid-day trading on Monday, hitting $20.73. The company's stock had a trading volume of 3,887,906 shares, compared to its average volume of 6,559,474. First Horizon Co. has a 1 year low of $12.95 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.58 and a beta of 0.86. The business's fifty day moving average is $17.85 and its two-hundred day moving average is $16.46.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $821.63 million. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts anticipate that First Horizon Co. will post 1.49 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, December 13th. First Horizon's payout ratio is currently 43.48%.

First Horizon announced that its board has approved a share buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at First Horizon

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the sale, the director now directly owns 166,840 shares of the company's stock, valued at $3,323,452.80. This represents a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David T. Popwell sold 100,974 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the sale, the executive vice president now directly owns 519,926 shares in the company, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company's stock.

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.