why First Horizon Corporation [FHN] is a Good Choice for Investors After New Price Target of $24.88

First Horizon Corporation [NYSE: FHN] jumped around 0.08 points on Thursday, while shares priced at $23.11 at the close of the session, up 0.35%. The company report on August 16, 2022 that Turk & Company Announces Acquisition of Lenders Title Group by Knox-Precision Holdings, LLC.

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Turk and Company, announced today that its client, Lenders Title, a subsidiary of First Horizon Corporation (NYSE:FHN), has been acquired by Knox-Precision Holdings, LLC.

Turk and Company served as the exclusive investment banker to Lenders Title.

First Horizon Corporation stock is now 41.52% up from its year-to-date (YTD) trading value. FHN Stock saw the intraday high of $23.16 and lowest of $22.88 per share. The company’s 52-week high price is 24.24, which means current price is +39.98% above from all time high which was touched on 02/28/22.

Compared to the average trading volume of 3.35M shares, FHN reached a trading volume of 2199876 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 $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 0.29, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.73. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 23.74. Price to Free Cash Flow for FHN in the course of the last twelve months was 14.22.

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 -0.13. With this latest performance, FHN shares gained by 3.82% in over the last four-week period, additionally plugging by 24.58% over the last 6 months – not to mention a rise of 44.98% 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 63.73, with the RSI for the last a single of trading hit 65.98, and the three-weeks RSI is set at 60.60 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 22.22, while it was recorded at 23.13 for the last single week of trading, and 20.45 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 +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 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 $10,180 million, or 82.50% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: BLACKROCK INC. with ownership of 56,077,591, which is approximately 0.983% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 52,190,941 shares of the stock with an approximate value of $1.21 billion in FHN stocks shares; and BARCLAYS PLC, currently with $416.15 million in FHN stock with ownership of nearly 26.492% 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 256 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 57,281,428 shares. Additionally, 278 investors decreased positions by around 51,177,954 shares, while 111 investors held positions by with 332,043,822 shares. The mentioned changes placed institutional holdings at 440,503,204 shares, according to the latest SEC report filing. FHN stock had 61 new institutional investments in for a total of 11,759,610 shares, while 85 institutional investors sold positions of 9,730,414 shares during the same period.


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