First Horizon Corporation (NYSE:FHN) does about 5.46M shares in volume on a normal day but saw 3417274 shares change hands in Monday trading. The company now has a market cap of 13.19B USD. Its current market price is $24.63, marking a decrease of -0.12% compared to the previous close of $24.66. The 52 week high reached by this stock is $24.92 whilst the lowest price level in 52 weeks is $16.51. The script in recent trading has seen the stock touch a high of $24.66 and a low of $24.60.
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First Horizon Corporation (FHN) has a 20-day trading average at $24.54 and the current price is -1.16% off the 52-week high compared with 49.18% distance from its 52-week low. The 50-day simple moving average of the closing price is $24.52 and its 200-day simple moving average is $23.24. If we look at the stock’s price movements over the week, volatility stands at 0.49%, which decreases to 0.46% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.46 to suggest the stock is neutral.
The consensus objective for the share price is $24.86, suggesting that the stock has a potential upside of 0.93% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 23, 2022 when Wedbush initiated the stock to “Outperform” and issued a price target of $22. Raymond James downgraded the stock to “Outperform” from Strong Buy on October 07, 2021 at a price target of $20-$19. UBS downgraded its price target at $20-$17.
The current price level is 0.37%, 0.47%, and 6.01% away from its SMA20, SMA50, and SMA200 respectively, with the FHN price moving above the 50-day SMA on January 23. First Horizon Corporation (FHN) stock is down -0.08% over the week and 0.57% over the past month. Its price is 0.53% year-to-date and 41.63% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.44 above consensus estimates by $0.01. FHN’s earnings per share are forecast to shrink by -22.20% this year and 24.20% over next year. Expected sales for next quarter are $860 million, which analysts say will come at $3.11 billion for the current fiscal year and next year at $3.44 billion. In addition, estimates put the company’s current quarterly revenue at an average of $841.27 million.
To reach the target analysts have set, the stock logically needs to grow 0.93 percent from here.
Outstanding shares total 535.99M with insiders holding 1.36% of the shares and institutional holders owning 82.53% of the company’s common stock. The company has a return on investment of 21.90% and return on equity of 11.30%. The price to earnings ratio (P/E ratio) amounts to 16.57 while the forward price to earnings ratio is 12.00. The beta has a value of 0.97. Price to book ratio is 1.89 and price to sales ratio is 5.60.
According to a U.S. Securities and Exchange Commission filing, iShares Core S&P Mid Cap ETF has reduced its position in First Horizon Corporation (FHN) to 16,555,442 shares, mirroring a recent drop by -0.02%. iShares Core S&P Mid Cap ETF dumped 3153.0 shares of First Horizon Corporation common stock bringing its total worth to about $405.61 million at the end of recent close, SEC documents show. iShares Core S&P Mid Cap ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 0.13 million shares to end up with 16,286,648 shares worth $399.02 million. Vanguard Small Cap Index Fund cut their holdings by -0.19% in the company over the course of the most recent quarter. It now holds a 2.58% position in First Horizon Corporation thanks to 13.83 million shares amounting to $338.87 million.
