First Horizon Corporation [NYSE: FHN] closed the trading session at $21.66 on 06/14/22. The day’s price range saw the stock hit a low of $21.50, while the highest price level was $21.8958. The company report on May 31, 2022 that First Horizon Corporation Shareholders Approve Transaction with The Toronto-Dominion Bank.
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First Horizon Corporation (NYSE: FHN or “First Horizon”) today announced that it has received shareholder approval for The Toronto-Dominion Bank (“TD”) to acquire First Horizon. The transaction is expected to close in the first quarter of TD’s 2023 fiscal year subject to U.S. and Canadian regulatory approvals and the completion of other necessary closing conditions.
“Approval of the transaction demonstrates the confidence our shareholders have in the financial and strategic benefits of the transaction and the value it provides our associates, clients and communities,” said President and Chief Executive Officer Bryan Jordan. “Following the completion of the transaction, the combined organization will have immediate scale benefits and be well positioned to create extraordinary value with a shared customer-centric strategy and broader client capabilities.”.
The stocks have a year to date performance of 32.64 percent and weekly performance of -5.50 percent. The stock has been moved at 35.88 percent over the last six months. The stock has performed -0.28 percent around the most recent 30 days and changed -6.48 percent over the most recent 3-months.
If compared to the average trading volume of 6.28M shares, FHN reached to a volume of 4641190 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 $25.00 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 2.80. 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.
Wedbush have made an estimate for First Horizon Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 23, 2022. While these analysts kept the previous recommendation, Raymond James dropped their target price from $20 to $19. The new note on the price target was released on October 07, 2021, representing the official price target for First Horizon Corporation stock. Previously, the target price had yet another drop from $20 to $17, while UBS kept a Neutral rating on FHN stock.
The Average True Range (ATR) for First Horizon Corporation is set at 0.42, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.52. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 31.95.
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 -5.50. With this latest performance, FHN shares dropped by -0.28% in over the last four-week period, additionally plugging by 35.88% over the last 6 months – not to mention a rise of 19.67% 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 36.33, with the RSI for the last a single of trading hit 29.96, and the three-weeks RSI is set at 40.68 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 22.63, while it was recorded at 22.11 for the last single week of trading, and 19.10 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 +42.46. First Horizon Corporation’s Net Margin is presently recorded at +30.85.
Return on Equity for this stock inclined to 12.32, with Return on Assets sitting at 1.15.
Earnings per share (EPS) analysis for First Horizon Corporation [FHN] stock
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 $9,403 million, or 83.00% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: BLACKROCK INC. with ownership of 55,531,594, which is approximately -9.768% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 51,359,394 shares of the stock with an approximate value of $1.11 billion in FHN stocks shares; and STATE STREET CORP, currently with $416.4 million in FHN stock with ownership of nearly -15.393% 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 296 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 119,979,350 shares. Additionally, 291 investors decreased positions by around 116,897,070 shares, while 95 investors held positions by with 197,852,476 shares. The mentioned changes placed institutional holdings at 434,728,896 shares, according to the latest SEC report filing. FHN stock had 143 new institutional investments in for a total of 65,937,005 shares, while 95 institutional investors sold positions of 14,898,245 shares during the same period.