First Horizon Corporation [NYSE: FHN] stock went on a downward path that fall over -2.37% on Tuesday, amounting to a one-week price decrease of less than -1.64%. The company report on May 13, 2021 that First Horizon Corporation Announces Redemption of Series A Preferred Stock and Corresponding Series A Depositary Shares.
First Horizon Corporation (NYSE: FHN) announced that on July 10, 2021 (the “Redemption Date”), it will redeem all outstanding shares of its Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), and all related outstanding depositary shares, each representing a 1/4,000th interest in a share of the Series A Preferred Stock (“the Series A Depositary Shares”) (NYSE: FHN.PR A). After the redemptions, no shares of Series A Preferred Stock, and no Series A Depositary Shares, will remain outstanding.
The redemption price will be $25.00 per Series A Depository Share, corresponding to $100,000 per share of Series A Preferred Stock. Accrued dividends will not be included in either redemption price because the Redemption Date is also a dividend payment date. The regular Series A quarterly dividend, which was declared in April, will be paid separately in the customary manner on July 12, 2021 to shareholders of record at the close of business on June 25, 2021.
Over the last 12 months, FHN stock rose by 96.40%. The one-year First Horizon Corporation stock forecast points to a potential upside of 11.11. The average equity rating for FHN stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $10.06 billion, with 552.25 million shares outstanding and 544.01 million shares in the current float. Compared to the average trading volume of 5.97M shares, FHN stock reached a trading volume of 4515662 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $20.88 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 0.53, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 4.86. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 26.56. Price to Free Cash Flow for FHN in the course of the last twelve months was 4.35.
FHN Stock Performance Analysis:
First Horizon Corporation [FHN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.64. With this latest performance, FHN shares gained by 2.65% in over the last four-week period, additionally plugging by 55.05% over the last 6 months – not to mention a rise of 96.40% 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 51.36, with the RSI for the last a single of trading hit 46.70, and the three-weeks RSI is set at 53.80 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 17.87, while it was recorded at 18.82 for the last single week of trading, and 13.78 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 $8,485 million, or 84.30% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: BLACKROCK INC. with ownership of 62,939,301, which is approximately 24.175% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 59,054,090 shares of the stock with an approximate value of $1.1 billion in FHN stocks shares; and FMR LLC, currently with $573.87 million in FHN stock with ownership of nearly 0.949% of the company’s market capitalization.
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 226 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 52,026,224 shares. Additionally, 221 investors decreased positions by around 52,189,911 shares, while 96 investors held positions by with 352,969,669 shares. The mentioned changes placed institutional holdings at 457,185,804 shares, according to the latest SEC report filing. FHN stock had 73 new institutional investments in for a total of 13,277,932 shares, while 59 institutional investors sold positions of 8,742,627 shares during the same period.