In yesterday’s Wall Street session, First Horizon Corporation (NYSE:FHN) shares traded at $24.64, down -0.12% from the previous session.
7 analysts cover First Horizon Corporation (NYSE:FHN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $24.00, we find $25.00. Given the previous closing price of $24.67, this indicates a potential upside of 1.34 percent. FHN stock price is now 0.40% away from the 50-day moving average and 5.92% away from the 200-day moving average. The market capitalization of the company currently stands at $13.20B.
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The stock has received a hold rating from 5 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $24.83 as their price target over the next twelve months.
With the price target of $22, Wedbush recently initiated with Outperform rating for First Horizon Corporation (NYSE: FHN). On October 07, 2021, Raymond James Downgraded its previous ‘Strong Buy’ rating to ‘Outperform’ on the stock reducing its target price from $20 to quote $19, while ‘UBS’ rates the stock as ‘Neutral’.
In other news, POPWELL DAVID T, President-Specialty Banking sold 139,637 shares of the company’s stock on Nov 30. The stock was sold for $3,455,839 at an average price of $24.75. Upon completion of the transaction, the President-Specialty Banking now directly owns 527,091 shares in the company, valued at $12.99 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 09, SEVP, Chief Operating Officer LoCascio Tammy sold 36,228 shares of the business’s stock. A total of $881,620 was realized by selling the stock at an average price of $24.34. This leaves the insider owning 169,290 shares of the company worth $4.17 million. Insiders disposed of 1,376,471 shares of company stock worth roughly $33.92 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FHN stock. A new stake in First Horizon Corporation shares was purchased by SAND GROVE CAPITAL MANAGEMENT LLP during the first quarter worth $87,603,000. SUMITOMO MITSUI TRUST HOLDINGS, INC. invested $38,609,000 in shares of FHN during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in First Horizon Corporation valued at approximately $33,828,000. ANTARA CAPITAL LP acquired a new stake in FHN for approximately $29,798,000. INDEXIQ ADVISORS LLC purchased a new stake in FHN valued at around $15,009,000 in the second quarter. In total, there are 705 active investors with 80.20% ownership of the company’s stock.
On Monday morning First Horizon Corporation (NYSE: FHN) stock kicked off with the opening price of $24.70. During the past 12 months, First Horizon Corporation has had a low of $16.77 and a high of $24.92. The fifty day moving average price for FHN is $24.54 and a two-hundred day moving average price translates $23.26 for the stock.
The latest earnings results from First Horizon Corporation (NYSE: FHN) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.44, beating analysts’ expectations of $0.43 by 0.01. This compares to $0.41 EPS in the same period last year. The net profit margin was 35.20% and return on equity was 11.30% for FHN. The company reported revenue of $733.0 million for the quarter, compared to $533.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.52 percent. For the current quarter, analysts expect FHN to generate $841.27M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/03/2023. Investors who held shares on 03/17/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 2.44% percent yield. There was an ex-dividend date of 03/16/2023 for this dividend. In terms of dividend payout ratio, FHN is presently at 38.80%.
First Horizon Corporation(FHN) Company Profile
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also underwrites bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; sells loans and derivatives; and offers advisory services. In addition, it offers various services, such as mortgage banking; title insurance and loan-closing; brokerage; correspondent banking; nationwide check clearing and remittance processing; trust, fiduciary, and agency; equipment finance; and investment and financial advisory services. Further, the company sells mutual fund and retail insurance products; and credit cards. It operates approximately 500 banking offices in 22 states under the First Horizon Bank brand; and 400 banking centers in 12 states under the FHN Financial brand in the United States. The company was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in November 2020. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.
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