The stock of First Horizon Corporation (NYSE:FHN) increased by $0.13 on Monday to finish at $12.35, up 1.06 percent. The last five days have seen an average of 4,848,200 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$12.15. The average number of shares traded over the last 20 days was 5,384,330, while the average volume over the last 50 days totaled 7,387,684.
FHN stock dropped -10.31% since last month. On 08/23/23, the company’s shares reached a one-month low of $12.12. The stock touched a high of $24.92 on 02/23/23, after rallying from a low of $8.99 in 52 weeks. The price of FHN stock has declined by -49.59% or -$12.15 this year, reaching a new high 12 times. Still, the stock price is down -50.44% from the 52-week high.
Insider Transactions
FHN stock investors should be aware that First Horizon Corporation (FHN) stock had its last reported insider trading activity 83 days ago on Jun 07. On Jun 07, Director FENSTERMAKER WILLIAM H acquired 10,000 shares at $11.62 each. This transaction resulted in the insider spending $116,196. On May 19, PALMER VICKI R added 2,000 shares at a price of US$11.02. After the transaction, the insider now owns 95,650 shares. Director FENSTERMAKER WILLIAM H had earlier bought 2,950 shares on May 12 for $9.56 a share. The transaction was completed for $28,190.
Valuation Metrics
First Horizon Corporation (FHN) has a trailing price-to-earnings (P/E) ratio of 6.53. Beta for the stock is 0.97. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.98, the price-to-book (PB) ratio of 0.82, and the price-to-cash flow ratio of 6.95.
Company paid $0.15 per share in dividends, remained unchanged from $0.15 last year. A $0.01 dividend increase was reported on Tuesday January 28 2020.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.14, and the total debt to equity ratio is 0.14. First Horizon Corporation’s operating margin stood at 70.50% for the same period. Based on annual data, it had gross profit of $2.39 billion and revenue of $2.68 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FHN’s return on assets (ROA) during the last 12 months has been 1.30%. There was a 23.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.40%.
Earnings Surprise
According to First Horizon Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that First Horizon Corporation’s quarterly earnings would be $0.39, but it ended up being $0.4, beating the consensus by -2.50%. At the end of First Horizon Corporation’s most recent quarter ended June 29, its total debt was $9.03 billion. Equity owned by shareholders amounts to $558.7 million.
Technical Picture
Here’s a quick look at First Horizon Corporation’s (FHN) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 36.47%, suggesting the stock is Neutral, with a 23.77% historical volatility rate.
The stochastic %K and %D were 11.65% and 10.76% respectively, while the average true range (ATR) was 0.36. Based on the 14-day stochastic reading of 13.69%, the RSI (14) reading is 41.34%. On the 9-day MACD Oscillator, the stock is at -0.19, and the 14-day reading is at -0.47.
Analyst Ratings
In its analyst report released on July 18, 2023, Robert W. Baird began covering First Horizon Corporation (NYSE: FHN). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned First Horizon Corporation (FHN) an Overweight rating. FHN is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 4 others recommend it as a buy.
What is FHN’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.50 and $16.00, with a median target price of $14.00. In analyzing these forecasts, the average price target given by analysts for First Horizon Corporation (FHN) is $14.42.
