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First Horizon Corporation (FHN) Looks Ready for Growth Despite 5.65% Change This Year

First Horizon Corporation (NYSE: FHN) is 5.65% higher on its value in year-to-date trading and has touched a low of $8.99 and a high of $18.99 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 $15.40 in the last trading session, with the day’s loss setting it -0.44%.

Currently trading at $14.96, the stock is 0.53% and 3.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.82 million and changing -2.86% at the moment leaves the stock 16.72% off its SMA200. FHN registered -14.76% loss for a year compared to 6-month gain of 36.12%.

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The stock witnessed a 6.10% loss in the last 1 month and extending the period to 3 months gives it a 4.25%, and is -0.07% 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 2.51% over the week and 2.52% over the month.

First Horizon Corporation (FHN) has around 7249 employees, a market worth around $8.30B and $4.78B in sales. Current P/E ratio is 9.76 and Fwd P/E is 9.48. Profit margin for the company is 18.11%. Distance from 52-week low is 66.41% and -21.22% from its 52-week high. The company has generated returns on investments over the last 12 months (8.25%).

First Horizon Corporation quarterly earnings per share for the current quarter are estimated at $0.34 with sales reaching $808.38M over the same period.The EPS is expected to shrink by -6.07% this year, but quarterly earnings will post -4.70% year-over-year. Quarterly sales are estimated to shrink -5.90% in year-over-year returns.

First Horizon Corporation (FHN) Top Institutional Holders

690 institutions hold shares in First Horizon Corporation (FHN), with institutional investors hold 82.51% of the company’s shares. The shares outstanding are 558.84M, and float is at 546.05M with Short Float at 2.13%. Institutions hold 81.80% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 73.65 million shares valued at $830.07 million. The investor’s holdings represent 13.18% of the FHN Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 54.5 million shares valued at $614.19 million to account for 9.75% of the shares outstanding. The other top investors are State Street Corporation which holds 24.69 million shares representing 4.42% and valued at over $278.25 million, while Wellington Management Group, LLP holds 2.81% of the shares totaling 15.71 million with a market value of $177.02 million.

First Horizon Corporation (FHN) Insider Activity

The most recent transaction is an insider purchase by FENSTERMAKER WILLIAM H,the company’sDirector. SEC filings show that FENSTERMAKER WILLIAM H bought 10,000 shares of the company’s common stock on Jun 07 ’23 at a price of $11.62 per share for a total of $0.12 million. Following the purchase, the insider now owns 0.26 million shares.

First Horizon Corporation disclosed in a document filed with the SEC on May 19 ’23 that PALMER VICKI R (Director) bought a total of 2,000 shares of the company’s common stock. The trade occurred on May 19 ’23 and was made at $11.02 per share for $22041.0. Following the transaction, the insider now directly holds 95650.0 shares of the FHN stock.

Still, SEC filings show that on May 12 ’23, FENSTERMAKER WILLIAM H (Director) acquired 2,950 shares at an average price of $9.56 for $28190.0. The insider now directly holds 246,312 shares of First Horizon Corporation (FHN).

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