First Horizon Corporation [NYSE: FHN] stock went on an upward path that rose over 0.18% on Tuesday, amounting to a one-week price increase of more than 1.43%. The company report on July 19, 2022 that First Horizon Corporation Reports Second Quarter 2022 Net Income Available to Common Shareholders of $166 Million, or EPS of $0.29; $195 Million, or $0.34, on an Adjusted Basis*.
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Pre-provision net revenue up 19% from the prior quarter and up 18% on an Adjusted basis*.
ROTCE of 12.1% and Adjusted ROTCE of 14.2% with tangible book value per share of $10.18*.
Over the last 12 months, FHN stock rose by 46.24%. The one-year First Horizon Corporation stock forecast points to a potential upside of 11.78. The average equity rating for FHN stock is currently 2.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $11.42 billion, with 533.22 million shares outstanding and 527.48 million shares in the current float. Compared to the average trading volume of 4.55M shares, FHN stock reached a trading volume of 3546389 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 $24.88 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 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 0.46, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.39. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 33.13.
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 1.43. With this latest performance, FHN shares gained by 5.83% in over the last four-week period, additionally plugging by 17.82% over the last 6 months – not to mention a rise of 46.24% 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 50.39, with the RSI for the last a single of trading hit 52.94, and the three-weeks RSI is set at 49.42 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 22.07, while it was recorded at 21.73 for the last single week of trading, and 19.80 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 +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.
FHN Stock EPS
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 $9,486 million, or 83.10% 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 $1.13 billion in FHN stocks shares; and STATE STREET CORP, currently with $421.79 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 July and at the time of the July reporting period, where 290 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 119,682,862 shares. Additionally, 288 investors decreased positions by around 116,504,475 shares, while 97 investors held positions by with 196,761,602 shares. The mentioned changes placed institutional holdings at 432,948,939 shares, according to the latest SEC report filing. FHN stock had 133 new institutional investments in for a total of 65,770,185 shares, while 102 institutional investors sold positions of 14,431,641 shares during the same period.