Buying First Horizon Corporation (FHN) Stock Is A Smart Move Today?

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MDVL Stock
MDVL Stock

First Horizon Corporation (NYSE:FHN) finished Thursday with a subtraction of -$0.04 to close at $23.50, a downside of -0.17 percent. An average of 3,678,476 shares of common stock have been traded in the last five days. There was a gain of $0.15 in the past week, and it reached a new high 18 times over the past 12 months. The last 20 days have seen an average of 3,381,459 shares traded, while the 50-day average volume stands at 2,815,676.

FHN stock has increased by 3.20% in the last month. The company shares reached their 1-month lowest point of $22.39 on 09/06/22. With the stock rallying to its 52-week high on 02/28/22, shares of the company touched a low of $15.00 and a high of $24.24 in 52 weeks. It has reached a new high 9 times so far this year and achieved 44.15% or $7.15 in price. In spite of this, the price is down -3.05% from the 52-week high.


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Insider Transactions

106 days have passed since First Horizon Corporation (FHN) last reported insider trading activity. BYRD DARYL G, who is Executive Chairman of Board, most recently acquired $201,934 shares at $22.64 per share on Jun 09. In this transaction, the insider spent $4,572,445. Executive Chairman of Board, BYRD DARYL G, disposed of 99,458 shares at a price of $22.71 on Jun 08. The insider now owns more than $2,258,984 worth of shares. Prior to that, Executive Chairman of Board BYRD DARYL G went on to Sale 122,078 shares at $22.92 each on Jun 07. An amount of $2,798,536 was transacted.

Valuation Metrics

First Horizon Corporation (FHN) has a trailing price-to-earnings (P/E) ratio of 16.31. The stock’s beta is 1.04. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.89, the price-to-book (PB) ratio at 1.74, and the price-to-cash flow ratio at 14.60.

The company has a payout ratio of 40.60%. The company’s most recent quarterly dividend payment was $0.15 a share, without any change from last year. Its latest increase dividend $0.01 reported on Tuesday January 28 2020.

Financial Health

Further, the company has a long term debt to equity ratio of 0.22 and a total debt to equity ratio of 0.22 for the quarter ending June 29. Its gross profit as reported stood at $1.99 billion compared to revenue of $2.16 billion.

Earnings Surprise

The analyst consensus anticipated First Horizon Corporation’s latest quarter earnings to come in at $0.35 per share, but it turned out to be $0.34, a -2.90% surprise. At the end of the quarter ending June 29, First Horizon Corporation’s stock balance sheet showed total debt was $4.16 billion. Shareholders own equity worth $536.61 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at First Horizon Corporation (FHN) price momentum. RSI 9-day as of the close on 22 September was 61.41%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.39%.

As of today, FHN’s price is $23.50 +0.62% or $0.15 from its 5-day moving average. FHN is currently trading +0.97% higher than its 20-day SMA and +4.29% higher than its 100-day SMA. However, the stock’s current price level is +10.16% above the SMA50 and +40.82% above the SMA200.

The stochastic %K and %D were 88.49% and 87.70%, respectively, and the average true range (ATR) was 0.25. With the 14-day stochastic at 86.11% and the average true range at 0.27, the RSI (14) stands at 60.65%. The stock has reached 0.10 on the 9-day MACD Oscillator while the 14-day reading was at 0.23.

Analyst Ratings

Wedbush launched coverage on First Horizon Corporation (NYSE: FHN) in its analyst report released on February 23, 2022. The firm assigned the stock an Outperform rating. The consensus rating for First Horizon Corporation (FHN) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FHN, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

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

Analysts predict a range of price targets between $24.00 and $25.00, with a median target of $25.00. Taking a look at these predictions, the average price target given by analysts for First Horizon Corporation (FHN) stock is $24.88.

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