The stock of First Horizon Corporation (NYSE:FHN) last traded at $14.53, down -3.33% from the previous session.
FHN stock price is now 0.26% away from the 50-day moving average and 12.38% away from the 200-day moving average. The market capitalization of the company currently stands at $8.06B.
With the price target enhanced from $16 to $18, RBC Capital Mkts Upgraded its rating from Sector Perform to Outperform for First Horizon Corporation (NYSE: FHN). On April 05, 2024, Keefe Bruyette Upgraded its previous ‘Mkt Perform’ rating to ‘Outperform’ on the stock increasing its target price from $16 to quote $18, while ‘Barclays’ rates the stock as ‘Overweight’
In other news, FENSTERMAKER WILLIAM H, Director bought 10,000 shares of the company’s stock on Jun 07 ’23. 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 $3.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19 ’23, 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 $1.39 million. A total of 1.60% 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 $18.99. The fifty day moving average price for FHN is $14.49 and a two-hundred day moving average price translates $12.93 for the stock.
The latest earnings results from First Horizon Corporation (NYSE: FHN) was released for Dec, 2023. According to the Banks – Regional Company, earnings per share came in at $0.32, beating analysts’ expectations of $0.3 by 0.02. This compares to $0.45 EPS in the same period last year. The net profit margin was 18.11% and return on equity was 10.40% for FHN. The company reported revenue of $1.08 billion for the quarter, compared to $857.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.6 percent. For the current quarter, analysts expect FHN to generate $808.13M 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 Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also accepts deposits; provides underwriting services for bank-eligible securities and other fixed-income securities by financial subsidiaries; sells loans and derivatives; financial planning; and offers investment and financial advisory services. In addition, it offers mortgage banking; loan syndications; brokerage services; commercial and business banking for business enterprises, consumer banking, and private client and wealth management services; capital markets, professional commercial real estate, mortgage warehouse and asset-based lending, franchise and equipment finance, tax credit finance, energy and healthcare finance, asset management, and corporate and correspondent banking services. 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.
