Is First Horizon Corporation [FHN] a good investment? Don’t be fooled by its recent momentum

The price of First Horizon Corporation (NYSE:FHN) shares last traded on Wall Street rose 7.50% to $12.33.

Based on available information, 15 analysts follow First Horizon Corporation (NYSE:FHN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $11.50, we find $13.00. Given the previous closing price of $11.47, this indicates a potential upside of 13.34 percent. FHN stock price is now 11.52% away from the 50-day moving average and -14.44% away from the 200-day moving average. The market capitalization of the company currently stands at $6.89B.

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Among analysts, 10 rate the stock a hold while 4 rate it a buy. Brokers who have rated the stock have averaged $12.84 as their price target over the next twelve months.

With the price target enhanced from $12 to $14, Wedbush Upgraded its rating from Neutral to Outperform for First Horizon Corporation (NYSE: FHN).

In other news, FENSTERMAKER WILLIAM H, Director bought 10,000 shares of the company’s stock on Jun 07. The stock was bought for $116,196 at an average price of $11.62. Upon completion of the transaction, the Director now directly owns 256,312 shares in the company, valued at $3.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19, Director PALMER VICKI R bought 2,000 shares of the business’s stock. A total of $22,041 was incurred on buying the stock at an average price of $11.02. This leaves the insider owning 95,650 shares of the company worth $1.18 million. Insiders disposed of 518,371 shares of company stock worth roughly $6.39 million over the past 1 year. A total of 1.56% of the company’s stock is owned by insiders.

During the past 12 months, First Horizon Corporation has had a low of $8.99 and a high of $24.92. The fifty day moving average price for FHN is $11.06 and a two-hundred day moving average price translates $14.41 for the stock.

The latest earnings results from First Horizon Corporation (NYSE: FHN) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.24 by 0.03. This compares to $0.45 EPS in the same period last year. The net profit margin was 20.82% and return on equity was 11.88% for FHN. The company reported revenue of $1.08 billion for the quarter, compared to $733.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.34 percent. For the current quarter, analysts expect FHN to generate $789.07M in revenue.

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 provides underwriting services for bank-eligible securities and other fixed-income securities by financial subsidiaries; sells loans and derivatives; and offers advisory services. In addition, it offers commercial and business banking for business enterprises, consumer banking, and private client and wealth management services; and capital markets, professional commercial real estate, mortgage warehouse and asset-based lending, franchise and equipment finance, and corporate and correspondent banking. Further, the company provides transaction processing services including check clearing services and remittance processing, credit cards, investment, and sale of mutual fund and retail insurances, as well as trust, fiduciary, and agency services. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.

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