A Technical View of the First Horizon Corporation (FHN)

First Horizon Corporation (NYSE:FHN) saw an upside of 0.21% to $16.61 after adding $0.03 on Tuesday. The 5-day average trading volume is 3,403,363 shares of the company’s common stock. It has gained $16.96 in the past week. An average of 4,160,726 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,975,560.

FHN’s 1-month performance is 8.79% or $1.36 on its low of $14.67 reached on 09/20/21. The company’s shares have touched a 52-week low of $9.78 and high of $19.45, with the stock’s rally to the 52-week high happening on 06/02/21. YTD, FHN has achieved 29.94% or $3.84. However, the current price is down -14.58%% from the 52-week high price.

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Insider Transactions

On Jul 29, 75 days have gone by since the last insider trading activity for First Horizon Corporation (FHN). Losch William C III (Sr. EVP and CFO) most recently sold 22,684 shares at $15.66 per share on Jul 29. This transaction cost the insider $355,298. Sr EVP & Chief Credit Officer, Springfield Susan L, sold 58,495 shares at a price of $18.47 on May 13. Then, on May 07, President and CEO JORDAN D BRYAN sold 218,409 shares at a price of $19.07 per share. This transaction amounted to $4,164,404.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 31.42 and a low of 4.935. FHN stock has a beta of 1.50. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.98 while the price-to-book (PB) in the most recent quarter is 1.18, with the price to cash flow ratio at 6.78.

First Horizon Corporation pays an annual dividend of $0.60 per share. Its dividend yield is 3.61% and the payout ratio is 25.90%. FHN’s most recent quarterly dividend payment was made on Oct. 1, when it paid $0.15 a share compared with prior rate of $0.15, down 0.0% from last year’s. The company latest dividend increase of $0.01 reported on Tuesday January 28 2020. Measured over the last 3 years, the Dividend has been growing by 66.67% yearly.

It is projected that First Horizon Corporation’s next ex-dividend date will be on 9-Dec-2021. FHN is expected to distribute $0.15 as its next dividend.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.22, while the total debt to equity was 0.22 while for the period ending June 29; First Horizon Corporation’s operating margin was 97.90%. The firm’s gross profit as reported stood at $1.66 billion against revenue of $1.9 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected FHN to announce $0.43 per share in earnings in its latest quarter, but it posted $0.58, representing a 34.90% surprise. FHN stock balance sheet for the quarter ending June 29 shows that, with total debt at $4.14 billion. Shareholders hold equity totaling $549.33 million

Technical Picture

Let’s look briefly at First Horizon Corporation (FHN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 58.82% to suggest the stock is trending Neutral, with historical volatility in this time period at 21.79%.

The stock’s 5-day moving average is $16.52, reflecting a +0.30% or $0.05 change from its current price. FHN is currently trading +9.43% above its 20-day SMA, -11.09% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +8.43% and +31.33% respectively.

Stochastic %K and %D was 80.35% and 80.00% and the average true range (ATR) pointed at 0.42. The RSI (14) points at 57.16%, while the 14-day stochastic is at 75.47% with the period’s ATR at 0.42. The stock’s 9-day MACD Oscillator is pointing at 0.09 and 0.16 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for First Horizon Corporation (NYSE: FHN), Raymond James downgraded it to an Outperform rating. They previously had a Strong buy rating on the stock. Analysts offering their rating for FHN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FHN as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 10 have offered a “buy” rating.

What is FHN’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $17.00 and a high of $23.00, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for First Horizon Corporation (FHN) stock is $19.50.


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