Jefferies slashes price target on First Horizon Corporation [FHN] – find out why.

First Horizon Corporation [NYSE: FHN] closed the trading session at $16.74 on 06/18/21. The day’s price range saw the stock hit a low of $16.49, while the highest price level was $16.95. The company report on June 15, 2021 that First Horizon Declares Cash Dividend on Series F Preferred Stock.

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First Horizon Corporation (NYSE: FHN) announced that its board of directors has authorized payment of a cash dividend of $1,312.08 per share on FHN’s 4.70% Non-Cumulative Perpetual Preferred Stock, Series F (“Series F Preferred Stock”) issued on May 3, 2021. This equates to a cash dividend of $0.328020 per Depositary Share (NYSE: FHN PRF), which each represent a 1/4,000th interest in a share of the Series F Preferred Stock. The dividend is payable on July 12, 2021 to shareholders of record at the close of business on June 30, 2021.

About First Horizon First Horizon Corp. (NYSE: FHN), with $87.5 billion in assets as of March 31, 2021, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

The stocks have a year to date performance of 31.19 percent and weekly performance of -8.52 percent. The stock has been moved at 29.37 percent over the last six months. The stock has performed -11.05 percent around the most recent 30 days and changed -3.01 percent over the most recent 3-months.

If compared to the average trading volume of 5.19M shares, FHN reached to a volume of 11665924 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 0.54, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 25.57. Price to Free Cash Flow for FHN in the course of the last twelve months was 4.08.

FHN stock trade performance evaluation

First Horizon Corporation [FHN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.52. With this latest performance, FHN shares dropped by -11.05% in over the last four-week period, additionally plugging by 29.37% over the last 6 months – not to mention a rise of 62.21% 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 29.24, with the RSI for the last a single of trading hit 21.42, and the three-weeks RSI is set at 35.71 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 18.38, while it was recorded at 17.62 for the last single week of trading, and 14.53 for the last 200 days.

First Horizon Corporation [FHN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and First Horizon Corporation [FHN] shares currently have an operating margin of +32.38. First Horizon Corporation’s Net Margin is presently recorded at +24.81.

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 1.33. 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 5.08. 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.

Earnings per share (EPS) analysis for First Horizon Corporation [FHN] stock

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 Ownership positions

There are presently around $7,653 million, or 84.10% 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 $988.57 million in FHN stocks shares; and FMR LLC, currently with $517.6 million in FHN stock with ownership of nearly 0.949% 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 226 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 52,006,439 shares. Additionally, 223 investors decreased positions by around 52,191,744 shares, while 95 investors held positions by with 352,988,457 shares. The mentioned changes placed institutional holdings at 457,186,640 shares, according to the latest SEC report filing. FHN stock had 73 new institutional investments in for a total of 13,273,329 shares, while 59 institutional investors sold positions of 8,742,627 shares during the same period.

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