First Horizon Corporation [FHN] gain 46.63% so far this year. What now?

First Horizon Corporation [NYSE: FHN] price surged by 0.21 percent to reach at $0.04. The company report on April 28, 2021 that First Horizon Announces Public Offering of Depositary Shares Representing Series F Preferred Stock and Expected Redemption of Series A Preferred Stock.

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First Horizon Corporation (NYSE: FHN) (“First Horizon”) announced a public offering of depositary shares, each representing 1/4,000th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series F, $100,000 liquidation preference per share (equivalent to $25 per depositary share). First Horizon may grant the underwriters a 30-day option to purchase additional depositary shares solely to cover over-allotments, if any. First Horizon intends to use the net proceeds of this offering to redeem in full the outstanding shares of its Non-Cumulative Perpetual Preferred Stock, Series A, and related depositary shares (NYSE: FHN PRA); any remainder will be used for general corporate purposes.

Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Keefe, Bruyette & Woods, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the depositary shares offering.

A sum of 4846187 shares traded at recent session while its average daily volume was at 6.94M shares. First Horizon Corporation shares reached a high of $18.93 and dropped to a low of $18.66 until finishing in the latest session at $18.71.

The one-year FHN stock forecast points to a potential upside of 10.26. The average equity rating for FHN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on First Horizon Corporation [FHN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FHN shares is $20.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FHN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for First Horizon Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 08, 2020. The new note on the price target was released on September 22, 2020, representing the official price target for First Horizon Corporation stock. Previously, the target price had yet another raise to $12, while Goldman analysts kept a Buy rating on FHN stock.

The Average True Range (ATR) for First Horizon Corporation is set at 0.48, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.07. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 19.91.

FHN Stock Performance Analysis:

First Horizon Corporation [FHN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.02. With this latest performance, FHN shares gained by 8.65% in over the last four-week period, additionally plugging by 75.02% over the last 6 months – not to mention a rise of 118.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FHN stock in for the last two-week period is set at 64.15, with the RSI for the last a single of trading hit 67.65, and the three-weeks RSI is set at 62.20 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 17.33, while it was recorded at 18.51 for the last single week of trading, and 13.12 for the last 200 days.

Insight into First Horizon Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and First Horizon Corporation [FHN] shares currently have an operating margin of +32.34. First Horizon Corporation’s Net Margin is presently recorded at +24.77.

Return on Total Capital for FHN is now 9.94, given the latest momentum, and Return on Invested Capital for the company is 10.98. Return on Equity for this stock inclined to 13.21, with Return on Assets sitting at 1.32. When it comes to the capital structure of this company, First Horizon Corporation [FHN] has a Total Debt to Total Equity ratio set at 53.41. Additionally, FHN Total Debt to Total Capital is recorded at 34.81, with Total Debt to Total Assets ending up at 5.05. Long-Term Debt to Equity for the company is recorded at 27.59, with the Long-Term Debt to Total Capital now at 16.93.

Reflecting on the efficiency of the workforce at the company, First Horizon Corporation [FHN] managed to generate an average of $124,228 per employee.

FHN Stock EPS

With the latest financial reports released by the company, First Horizon Corporation posted 0.2/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FHN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First Horizon Corporation go to 9.50%.

First Horizon Corporation [FHN] Insider Position Details

There are presently around $8,559 million, or 84.70% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: VANGUARD GROUP INC with ownership of 56,845,282, which is approximately 6.545% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 50,686,001 shares of the stock with an approximate value of $948.34 million in FHN stocks shares; and FMR LLC, currently with $573.07 million in FHN stock with ownership of nearly -2.703% of the company’s market capitalization.

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Positions in First Horizon Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 213 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 39,752,972 shares. Additionally, 208 investors decreased positions by around 42,552,317 shares, while 92 investors held positions by with 375,172,880 shares. The mentioned changes placed institutional holdings at 457,478,169 shares, according to the latest SEC report filing. FHN stock had 76 new institutional investments in for a total of 6,717,135 shares, while 43 institutional investors sold positions of 3,906,080 shares during the same period.

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