First Horizon Corporation [NYSE: FHN] jumped around 0.66 points on Friday, while shares priced at $16.79 at the close of the session, up 4.09%. The company report on July 10, 2021 that First Horizon Announcement on Series F Preferred Stock Dividend.
First Horizon Corporation (NYSE: FHN) announced a cash dividend amount of $874.72 per share on FHN’s 4.70% Non-Cumulative Perpetual Preferred Stock, Series F (“Series F Preferred Stock”) which was issued on May 3, 2021. This equates to a cash dividend of $0.218680 per Depositary Share (NYSE: FHN PRF), which each represent a 1/4,000th interest in a share of Series F Preferred Stock. This is a correction to FHN’s June 14 dividend announcement, in which the dividend rate was announced correctly, but the dollar amount was not. The dividend is payable on July 12, 2021 to shareholders of record at the close of business on June 30, 2021.
About First HorizonFirst 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.
First Horizon Corporation stock is now 31.58% up from its year-to-date (YTD) trading value. FHN Stock saw the intraday high of $16.81 and lowest of $16.39 per share. The company’s 52-week high price is 19.45, which means current price is +33.78% above from all time high which was touched on 06/02/21.
Compared to the average trading volume of 4.85M shares, FHN reached a trading volume of 6196190 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $20.81 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.
Hovde Group have made an estimate for First Horizon Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 23, 2021. The new note on the price target was released on October 08, 2020, representing the official price target for First Horizon Corporation stock. Previously, the target price had yet another raise to $12, while Raymond James analysts kept a Strong Buy rating on FHN stock.
The Average True Range (ATR) for First Horizon Corporation is set at 0.49, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 4.30. 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 27.14. Price to Free Cash Flow for FHN in the course of the last twelve months was 3.85.
How has FHN stock performed recently?
First Horizon Corporation [FHN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.12. With this latest performance, FHN shares dropped by -10.64% in over the last four-week period, additionally plugging by 12.31% over the last 6 months – not to mention a rise of 100.84% 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 40.53, with the RSI for the last a single of trading hit 41.29, and the three-weeks RSI is set at 41.79 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 18.24, while it was recorded at 16.66 for the last single week of trading, and 15.07 for the last 200 days.
First Horizon Corporation [FHN]: Deeper insight into the 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 analysis for First Horizon Corporation [FHN]
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%.
Insider trade positions for First Horizon Corporation [FHN]
There are presently around $7,673 million, or 83.80% 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 $991.52 million in FHN stocks shares; and FMR LLC, currently with $519.14 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 July and at the time of the July reporting period, where 224 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 52,021,753 shares. Additionally, 221 investors decreased positions by around 52,107,800 shares, while 93 investors held positions by with 352,872,065 shares. The mentioned changes placed institutional holdings at 457,001,618 shares, according to the latest SEC report filing. FHN stock had 73 new institutional investments in for a total of 13,313,152 shares, while 59 institutional investors sold positions of 8,719,657 shares during the same period.