First Horizon Corporation (NYSE:FHN) saw an upside of 0.81% to close Monday at $11.20 after adding $0.09 on the day. The 5-day average trading volume is 4,646,900 shares of the company’s common stock. It has gained $11.51 in the past week and touched a new high 2 times within the past 5 days. An average of 6,304,575 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,844,140.
FHN’s 1-month performance is -9.53% or -$1.02 on its low of $10.96 reached on 09/22/23. The company’s shares have touched a 52-week low of $8.99 and high of $24.92, with the stock’s rally to the 52-week high happening on 02/23/23. YTD, FHN has lost -54.29% or -$13.30 and has reached a new high 12 times. However, the current price is down -55.06% from the 52-week high price.
Insider Transactions
FHN stock investors last saw insider trading activity on Jun 07.JORDAN D BRYAN (Chairman, President & CEO) most recently sold 93,157 shares at $24.80 per share on Feb 24. This transaction cost the insider $2,310,294. Sr. EVP, Chief Risk Officer, AKINS TERRY LAWSON, sold 4,694 shares at a price of $24.67 on Feb 02. Then, on Nov 30, President-Specialty Banking POPWELL DAVID T sold 139,637 shares at a price of $24.75 per share. This transaction amounted to $3,455,839.
Valuation Metrics
FHN stock has a beta of 0.98. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.48 while the price-to-book (PB) in the most recent quarter is 0.77, with the price to cash flow ratio at 9.30.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.13, while the total debt to equity was 0.94. The firm’s gross profit as reported stood at $2.39 billion against revenue of $2.68 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected FHN to announce $0.4 per share in earnings in its latest quarter, but it posted $0.39, representing a -2.50% surprise. Shareholders hold equity totaling $558.7 million.
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 25 September was 29.16% to suggest the stock is trending oversold, with historical volatility in this time period at 16.18%.
The stock’s 5-day moving average is $11.19, reflecting a -0.27% or -$0.03 change from its current price. FHN is currently trading -8.35% above its 20-day SMA, -30.82% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -10.54% and SMA200 by-54.29%.
Stochastic %K and %D was 11.18% and 8.07% and the average true range (ATR) pointed at 0.30. The RSI (14) points at 31.91%, while the 14-day stochastic is at 15.79% with the period’s ATR at 0.32. The stock’s 9-day MACD Oscillator is pointing at -0.15 and -0.33 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for First Horizon Corporation (NYSE: FHN), Robert W. Baird launched coverage with a Neutral rating. 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 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 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 $13.25 and a high of $16.00, with their median price target at $14.00. Looking at these predictions, the average price target given by analysts is for First Horizon Corporation (FHN) stock is $14.10.
