First Horizon Corporation, a prominent bank holding company, has recently experienced significant changes in its stock ownership and insider transactions.
A director of the company now directly holds 166,840 shares, valued at approximately $3.32 million, reflecting a 5.65% decrease in their position.
Corporate insiders collectively own 0.87% of the stock, indicating a relatively modest level of insider ownership.
In terms of institutional investment, UMB Bank n.a. significantly increased its holdings by 365% in the third quarter, acquiring an additional 1,325 shares to reach a total of 1,688 shares valued at $26,000.
Other institutional players, such as Family Firm Inc. and Nemes Rush Group LLC, have also made strategic investments, with the latter boosting its stake by 306.2% during the same period.
Overall, institutional investors now control 80.28% of First Horizon's stock.
Analysts have given the stock a "Moderate Buy" rating, with a consensus price target of $19.69.
However, JPMorgan Chase & Co. recently lowered its price target to $18.00, assigning a "neutral" rating, while Wells Fargo & Company raised its price objective to $21.00.
First Horizon's stock performance has been volatile, with shares trading down to $19.92 during midday trading.
The company's market capitalization stands at $10.56 billion, with a price-to-earnings (P/E) ratio of 14.43.
The stock has experienced a one-year low of $12.95 and a high of $21.72.
First Horizon exceeded expectations in its latest quarterly earnings report, posting earnings per share (EPS) of $0.42 and revenue of $1.32 billion.
The company's return on equity stands at 9.51%, with a net margin of 15.43%.
The Board of Directors approved a share buyback plan authorizing the repurchase of up to $1 billion in outstanding shares.
Recent insider transactions include the sale of 100,974 shares by EVP David T. Popwell and the sale of 10,000 shares by Director Harry V. Barton, Jr.
As First Horizon navigates the financial landscape, the interplay between insider transactions, institutional investments, and analyst ratings will be crucial in shaping market perceptions.