First Horizon Corporation [FHN] Revenue clocked in at $2.12 billion, up 41.70% YTD: What’s Next?

First Horizon Corporation [NYSE: FHN] price surged by 0.74 percent to reach at $0.17. The company report on August 8, 2022 that First Horizon Announces Results of its 2022 Company-Run Stress Test.


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First Horizon Corporation (NYSE: FHN) (“First Horizon” or “the Company”) announced today the results of its 2022 Bank Holding Company-run capital stress test results which demonstrate the ability to successfully navigate periods of economic stress and maintain capital ratios well above regulatory-required minimums. These internally generated results, which utilized the 2022 Severely Adverse Scenario published by the Federal Reserve on February 10, 2022, reflect continued strong risk discipline.

“Our 2022 stress test results illustrate the resilience of our business model, commitment to prudent risk management and strong capital position,” said Chief Financial Officer Hope Dmuchowski. “Our minimum common equity tier 1 capital ratio of 8.4% reflects an additional $3.3 billion of pre-tax loss absorption capacity beyond the required regulatory minimums and our stressed loss rates and pre-provision net revenue results once again outperformed the Federal Reserve published CCAR-bank median.”.

A sum of 2925252 shares traded at recent session while its average daily volume was at 3.58M shares. First Horizon Corporation shares reached a high of $23.14 and dropped to a low of $22.95 until finishing in the latest session at $23.14.

The one-year FHN stock forecast points to a potential upside of 6.99. The average equity rating for FHN stock is currently 2.80, trading closer to a bullish pattern in the stock market.

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 0.34, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.83. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 23.85. Price to Free Cash Flow for FHN in the course of the last twelve months was 14.18.

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 1.18. With this latest performance, FHN shares gained by 7.33% in over the last four-week period, additionally plugging by 27.49% over the last 6 months – not to mention a rise of 41.01% 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 67.36, with the RSI for the last a single of trading hit 74.29, and the three-weeks RSI is set at 62.38 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 22.19, while it was recorded at 22.99 for the last single week of trading, and 20.29 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 $10,120 million, or 83.30% 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 $1.19 billion in FHN stocks shares; and STATE STREET CORP, currently with $445.47 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 285 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 102,870,818 shares. Additionally, 272 investors decreased positions by around 94,784,526 shares, while 102 investors held positions by with 239,669,532 shares. The mentioned changes placed institutional holdings at 437,324,876 shares, according to the latest SEC report filing. FHN stock had 111 new institutional investments in for a total of 47,332,474 shares, while 91 institutional investors sold positions of 11,068,328 shares during the same period.

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