First Horizon Corporation (NYSE:FHN) finished Thursday with a subtraction of $0.0 to close at $10.99, a downside of 0.00 percent. An average of 4,799,600 shares of common stock have been traded in the last five days. There was a fall of -$0.15 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 6,558,390 shares traded, while the 50-day average volume stands at 6,462,768.
FHN stock has decreased by -11.73% in the last month. The company shares reached their 1-month lowest point of $10.85 on 09/28/23. With the stock rallying to its 52-week high on 02/23/23, shares of the company touched a low of $8.99 and a high of $24.92 in 52 weeks. It has reached a new high 12 times so far this year and lost -55.14% or -$13.51 in price. In spite of this, the price is down -55.90% 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 217 days ago on Jun 07. In this transaction, the insider spent $2,310,294. Sr. EVP, Chief Risk Officer, AKINS TERRY LAWSON, disposed of 4,694 shares at a price of $24.67 on Feb 02. The insider now owns more than $115,820 worth of shares. Prior to that, President-Specialty Banking POPWELL DAVID T went on to Sale 139,637 shares at $24.75 each on Nov 30. An amount of $3,455,839 was transacted.
Valuation Metrics
First Horizon Corporation (FHN) has a trailing price-to-earnings (P/E) ratio of 5.81. The stock’s beta is 0.98. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.45, the price-to-book (PB) ratio at 0.75, and the price-to-cash flow ratio at 9.12.
The company has a payout ratio of 39.12%. 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 0.13 and a total debt to equity ratio of 0.94 for the quarter ending June 29. Its gross profit as reported stood at $2.39 billion compared to revenue of $2.68 billion.
Earnings Surprise
The analyst consensus anticipated First Horizon Corporation’s latest quarter earnings to come in at $0.4 per share, but it turned out to be $0.39, a -2.50% surprise. At the end of the quarter ending June 29, First Horizon Corporation’s stock balance sheet showed total debt was $9.03 billion. Shareholders own equity worth $558.7 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 28 September was 23.82%, suggesting the stock is oversold, with historical volatility in this time frame at 11.62%.
As of today, FHN’s price is $11.07 -1.35% or -$0.15 from its 5-day moving average. FHN is currently trading -11.80% lower than its 20-day SMA and +0.46% higher than its 100-day SMA. However, the stock’s current price level is -14.61% below the SMA50 and -55.11% below the SMA200.
The stochastic %K and %D were 9.34% and 10.37%, respectively, and the average true range (ATR) was 0.30. With the 14-day stochastic at 11.76% and the average true range at 0.32, the RSI (14) stands at 28.54%. The stock has reached -0.12 on the 9-day MACD Oscillator while the 14-day reading was at -0.29.
Analyst Ratings
UBS launched coverage on First Horizon Corporation (NYSE: FHN) in its analyst report released on September 28, 2023. The firm assigned the stock a Neutral rating. The consensus rating for First Horizon Corporation (FHN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FHN, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 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 $12.00 and $16.00, with a median target of $14.00. Taking a look at these predictions, the average price target given by analysts for First Horizon Corporation (FHN) stock is $13.94.
