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Buy, Sell Or Hold First Horizon Corporation (NYSE:FHN) At $23.46?

In recent trading session, First Horizon Corporation (NYSE:FHN) saw 0.69 million shares changing hands at last check today with its beta currently measuring 1.04. Company’s recent per share price level of $23.46 trading at -$0.08 or -0.34% at last check today assigns it a market valuation of $12.70B. That most recent trading price of FHN’s stock is at a discount of -3.32% from its 52-week high price of $24.24 and is indicating a premium of 36.06% from its 52-week low price of $15.00. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.37 million shares which gives us an average trading volume of 2.98 million if we extend that period to 3-months.

First Horizon Corporation (NYSE:FHN) trade information

Upright in the red during last session for losing -0.34%, in the last five days FHN remained trading in the green while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $23.46 price level, adding 0.8% to its value on the day. First Horizon Corporation’s shares saw a change of 44.15% in year-to-date performance and have moved 0.34% in past 5-day. First Horizon Corporation (NYSE:FHN) showed a performance of 3.20% in past 30-days. Number of shares sold short was 23.85 million shares which calculate 10.28 days to cover the short interests.

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First Horizon Corporation (FHN) estimates and forecasts

Statistics highlight that First Horizon Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company added 2.17% of value to its shares in past 6 months, showing an annual growth rate of -24.64% while that of industry is 3.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -14.00% in the current quarter and calculating -6.20% decrease in the next quarter. This year revenue growth is estimated to fall -0.40% from the last financial year’s standing.

8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $804.31 million for the same. And 8 analysts are in estimates of company making revenue of $829.96 million in the next quarter that will end on Dec 2022. Company posted $744.9 million and $745 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 8.00% while estimating it to be 11.40% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 13.20% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -7.90% while estimates for its earnings growth in next 5 years are of 9.50%.

FHN Dividends

First Horizon Corporation is more likely to be releasing its next quarterly report on October 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

First Horizon Corporation (NYSE:FHN)’s Major holders

Insiders are in possession of 1.36% of company’s total shares while institution are holding 83.08 percent of that, with stock having share float percentage of 84.23%. Investors also watch the number of corporate investors in a company very closely, which is 83.08% institutions for First Horizon Corporation that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at FHN for having 56.08 million shares of worth $1.32 billion. And as of Jun 29, 2022, it was holding 10.49% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 52.19 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 9.76% of outstanding shares, having a total worth of $1.23 billion.

On the other hand, Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 15.75 million shares of worth $370.0 million or 2.95% of the total outstanding shares. The later fund manager was in possession of 15.72 million shares on Aug 30, 2022, making its stake of worth around $369.45 million in the company or a holder of 2.94% of company’s stock.

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