As of Thursday close, First Horizon Corporation’s (NYSE:FHN) stock was up $0.09, moving up 0.72 percent to $12.55. The average number of shares traded per day over the past five days has been 4,372,340 shares. 4 times new highs have been achieved over the past 5 days, with a $0.17 gain in that time frame. In the last twenty days, the average volume was 5,196,675, while in the previous 50 days, it was 7,042,944.
Since last month, FHN stock retreated -4.85%. Shares of the company fell to $12.12 on 08/23/23, the lowest level in the past month. A 52-week high of $24.92 was reached on 02/23/23 after having rallying from a 52-week low of $8.99. Since the beginning of this year, FHN’s stock price has dropped by -48.78% or -$11.95, and marked a new high 12 times. However, the stock has declined by -49.64% since its 52-week high.
FHN stock investors should be aware that First Horizon Corporation (FHN) stock had its last reported insider trading activity 86 days ago on Jun 07. FENSTERMAKER WILLIAM H, the Director of the company, purchased of 10,000 shares for $11.62 on Jun 07. It resulted in a $116,196 investment by the insider. PALMER VICKI R added 2,000 shares at an average price of $11.02 on May 19. The insider now owns 95,650 shares following the transaction. On May 12, Director FENSTERMAKER WILLIAM H bought 2,950 shares at $9.56 apiece. The transaction was valued at $28,190.
Valuation Metrics
Right now, First Horizon Corporation (FHN) has a P/E ratio of about 6.64. The stock’s beta is 0.96. Besides these, the trailing price-to-sales (P/S) ratio of 2.02, the price-to-book (PB) ratio of 0.83, and the price-to-cash flow ratio of 7.06 may also be considered.
The latest dividend of $0.15 per share was paid out, remained unchanged from last year’s $0.15. On Tuesday January 28 2020, a $0.01 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.14, and the total debt-to-equity ratio was 0.14. In the year ended June 29, operating margins totaled 70.50%. Based on annual data, FHN earned $2.39 billion in gross profit and brought in $2.68 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 23.20%. Return on equity (ROE) for the past 12 months was 14.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected First Horizon Corporation to report $0.4 quarterly earnings, the actual figure was $0.39 per share, beating the consensus estimate by -2.50%. The value of shareholders’ equity is $558.7 million.
Technical Picture
This quick technical analysis looks at First Horizon Corporation’s (FHN) price momentum. With a historical volatility rate of 24.99%, the RSI 9-day stood at 45.51% on 31 August.
With respect to its five-day moving average, the current First Horizon Corporation price is up by +1.37% percent or $0.17. At present, FHN shares trade -6.41% below its 20-day simple moving average and -29.49% percent below its 100-day simple moving average. However, the stock is currently trading approximately +8.19% above its SMA50 and -48.29% below its SMA200.
Stochastic coefficient K was 25.37% and Stochastic coefficient D was 19.42%, while ATR was 0.32. Given the Stochastic reading of 32.33% for the 14-day period, the RSI (14) reading has been calculated as 46.23%. As of today, the MACD Oscillator reading stands at 0.08, while the 14-day reading stands at -0.09.
Analyst Ratings
Robert W. Baird launched its rating on First Horizon Corporation (NYSE: FHN) to a Neutral in a note to investors on July 18, 2023. First Horizon Corporation (FHN) has been rated Overweight by analysts. According to 0 brokerage firms, FHN is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate First Horizon Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $13.50 – $16.00. Based on these forecasts, analysts predict First Horizon Corporation (FHN) will achieve an average price target of $14.42.
