First Horizon Corporation [NYSE: FHN] traded at a high on Friday, posting a 0.22 gain after which it closed the day’ session at $13.93. The company report on January 23, 2024 at 5:54 PM that First Horizon Announces $650 Million Share Repurchase Program, Declares Cash Dividends on Common and Preferred Stock.
– First Horizon Corporation (NYSE: FHN or the “Company”) today announced that its board of directors has authorized the Company to repurchase up to $650 million of the Company’s common stock.
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Additionally, the board of directors declared a quarterly common stock dividend of $0.15 per share. The dividend is payable on April 1, 2024 to shareholders of record at the close of business on March 15, 2024.
The results of the trading session contributed to over 10740024 shares changing hands. Over the past one week, the price volatility of First Horizon Corporation stands at 3.25% while the volatility over the past one month is 2.94%.
The market cap for FHN stock reached $7.78 billion, with 559.00 million shares outstanding and 550.09 million shares in the current float. Compared to the average trading volume of 9.16M shares, FHN reached a trading volume of 10740024 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 $16.13 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 2.12. 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.
UBS have made an estimate for First Horizon Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 24, 2024.
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 1.63. The Price to Book ratio for the last quarter was 0.92. Price to Free Cash Flow for FHN in the course of the last twelve months was 10.62.
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 -4.98. With this latest performance, FHN shares dropped by -1.14% in over the last four-week period, additionally plugging by 3.88% over the last 6 months – not to mention a drop of -43.72% 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 47.37, with the RSI for the last a single of trading hit 42.50, and the three-weeks RSI is set at 50.45 for First Horizon Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 13.77, while it was recorded at 14.35 for the last single week of trading, and 12.50 for the last 200 days.
First Horizon Corporation [FHN]: Deeper insight into the fundamentals
First Horizon Corporation’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.22.
Earnings analysis for First Horizon Corporation [FHN]
With the latest financial reports released by the company, First Horizon Corporation posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.30%. 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 2.40%.
Insider trade positions for First Horizon Corporation [FHN]
The top three institutional holders of FHN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FHN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FHN stock with ownership which is approximately 5.8325%.
