Wedbush slashes price target on First Horizon Corporation [FHN] – find out why.

First Horizon Corporation [NYSE: FHN] stock went on an upward path that rose over 0.16% on Wednesday, amounting to a one-week price increase of more than 0.08%. The company report on January 3, 2023 that First Horizon Receives Great Place to Work Certification™.


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First Horizon Corp. (NYSE: FHN or “First Horizon”) today announced it has received the Great Place to Work® recognition, another recognition of the company as an employer of choice. The prestigious award is based entirely on what current employees say about their experience working at First Horizon.

Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.  The certification recognizes employers who create an outstanding employee experience.  Certification is a two-step process that includes surveying associates and submitting a questionnaire about our workforce.

Over the last 12 months, FHN stock rose by 46.36%. The one-year First Horizon Corporation stock forecast points to a potential upside of 1.45. 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 $13.15 billion, with 535.99 million shares outstanding and 529.50 million shares in the current float. Compared to the average trading volume of 5.64M shares, FHN stock reached a trading volume of 4043620 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 $24.86 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 0.12, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 5.58. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 12.20. Price to Free Cash Flow for FHN in the course of the last twelve months was 6.24.

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 0.08. With this latest performance, FHN shares dropped by -0.73% in over the last four-week period, additionally plugging by 10.76% over the last 6 months – not to mention a rise of 46.36% 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 52.88, with the RSI for the last a single of trading hit 52.40, and the three-weeks RSI is set at 54.73 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 24.46, while it was recorded at 24.48 for the last single week of trading, and 23.17 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 +39.98. First Horizon Corporation’s Net Margin is presently recorded at +32.18.

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 $10,285 million, or 80.20% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: BLACKROCK INC. with ownership of 55,864,294, which is approximately -0.38% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 52,975,376 shares of the stock with an approximate value of $1.3 billion in FHN stocks shares; and STATE STREET CORP, currently with $454.58 million in FHN stock with ownership of nearly 7.547% of the company’s market capitalization.

Positions in First Horizon Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 246 institutional holders increased their position in First Horizon Corporation [NYSE:FHN] by around 29,609,457 shares. Additionally, 252 investors decreased positions by around 45,689,698 shares, while 117 investors held positions by with 344,486,705 shares. The mentioned changes placed institutional holdings at 419,785,860 shares, according to the latest SEC report filing. FHN stock had 65 new institutional investments in for a total of 9,276,296 shares, while 49 institutional investors sold positions of 8,434,667 shares during the same period.

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