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First Horizon Corporation (FHN) Review – Making Smarter Decisions

559 institutions hold shares in First Horizon Corporation (FHN), with 8.23M shares held by insiders accounting for 1.48% while institutional investors hold 85.53% of the company’s shares. The shares outstanding are 553.40M, and float is at 546.61M with Short Float at 1.39%. Institutions hold 84.26% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 56.85 million shares valued at $725.35 million. The investor’s holdings represent 10.27% of the FHN Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 50.69 million shares valued at $646.75 million to account for 9.15% of the shares outstanding. The other top investors are FMR, LLC which holds 30.63 million shares representing 5.53% and valued at over $390.83 million, while State Street Corporation holds 3.80% of the shares totaling 21.06 million with a market value of $268.68 million.

First Horizon Corporation (NYSE: FHN) is 30.64% higher on its value in year-to-date trading and has touched a low of $6.93 and a high of $18.42 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FHN stock was last observed hovering at around $17.25 in the last trading session, with the day’s loss setting it -0.58% off its average median price target of $18.63 for the next 12 months. It is also 20.62% off the consensus price target high of $21.00 offered by 14 analysts, but current levels are -1.03% lower than the price target low of $16.50 for the same period.

Currently trading at $16.67, the stock is -2.23% and 4.31% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.13 million and changing -3.36% at the moment leaves the stock 38.55% off its SMA200. FHN registered 100.36% gain for a year compared to 6-month gain of 89.43%. The firm has a 50-day simple moving average (SMA 50) of $16.65 and a 200-day simple moving average (SMA200) of $13.16.

The stock witnessed a 2.90% loss in the last 1 month and extending the period to 3 months gives it a 31.88%, and is -2.00% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.21% over the week and 3.68% over the month.

First Horizon Corporation (FHN) has around 6697 employees, a market worth around $8.99B and $1.90B in sales. Current P/E ratio is 10.58 and Fwd P/E is 10.92. Profit margin for the company is 43.30%. Distance from 52-week low is 140.55% and -9.50% from its 52-week high. The company has generated returns on investments over the last 12 months (17.20%).

First Horizon Corporation (FHN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for First Horizon Corporation (FHN) is a “Buy”. 14 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 0 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

First Horizon Corporation is expected to release its quarterly report on 04/21/2021 and quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $755.23M over the same period.The EPS is expected to grow by 37.50% this year, but quarterly earnings will post 14.90% year-over-year. Quarterly sales are estimated to grow 58.10% in year-over-year returns.

First Horizon Corporation (FHN) Insider Activity

A total of 103 insider transactions have happened at First Horizon Corporation (FHN) in the last six months, with sales accounting for 61 and purchases happening 42 times. The most recent transaction is an insider sale by ARDOIN ELIZABETH A, the company’s SEVP, Chief Communications Ofc. SEC filings show that ARDOIN ELIZABETH A sold 85,179 shares of the company’s common stock on Feb 26 at a price of $16.35 per share for a total of $1.39 million. Following the sale, the insider now owns 0.25 million shares.

First Horizon Corporation disclosed in a document filed with the SEC on Feb 16 that Restel Anthony J (SEVP Chief Operating Officer) sold a total of 45,843 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $16.11 per share for $0.74 million. Following the transaction, the insider now directly holds 0.42 million shares of the FHN stock.

Still, SEC filings show that on Feb 11, JORDAN D BRYAN (President and CEO) disposed off 97,149 shares at an average price of $15.62 for $1.52 million. The insider now directly holds 844,392 shares of First Horizon Corporation (FHN).

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First Horizon Corporation (FHN): Who are the competitors?

The company’s main competitors (and peers) include The PNC Financial Services Group Inc. (PNC) that is trading 74.26% up over the past 12 months and Pinnacle Financial Partners Inc. (PNFP) that is 136.65% higher over the same period. Synovus Financial Corp. (SNV) is 147.11% up on the 1-year trading charts. Short interest in the company’s stock has fallen -149.67% from the last report on Feb 11, 2021 to stand at a total of 19.0 million short shares sold with a short interest ratio of 1.02.

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