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First Horizon Corporation (NYSE: FHN) Has Fallen -67.14% From Its Highs, What Comes Next?

First Horizon Corporation (NYSE:FHN)’s traded shares stood at 4.1 million during the latest session, with the company’s beta value hitting 0.97. At the last check today, the stock’s price was $14.91, to imply a decrease of -4.18% or -$0.65 in intraday trading. The FHN share’s 52-week high remains $24.92, putting it -67.14% down since that peak but still an impressive 10.13% since price per share fell to its 52-week low of $13.40. The company has a valuation of $8.71B, with an average of 15.22 million shares in intraday trading volume over the past 10 days and average of 6.52 million shares over the past 3 months.

First Horizon Corporation (NYSE:FHN) trade information

After registering a -4.18% downside in the latest session, First Horizon Corporation (FHN) has traded red over the past five days. The stock hit a weekly high of 19.00 this Thursday, 03/16/23, dropping -4.18% in its intraday price action. The 5-day price performance for the stock is -25.82%, and -40.07% over 30 days. With these gigs, the year-to-date price performance is -39.14%. Short interest in First Horizon Corporation (NYSE:FHN) saw shorts transact 29.18 million shares and set a 6.87 days time to cover.

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First Horizon Corporation (FHN) estimates and forecasts

Looking at statistics comparing First Horizon Corporation share performance against respective industry, we note that the company has outperformed competitors. First Horizon Corporation (FHN) shares are -36.45% down over the last 6 months, with its year-to-date growth rate higher than industry average at 12.50% against -1.90%. Revenue is forecast to grow 38.90% this quarter before jumping 44.10% for the next one. The rating firms project that company’s revenue will grow 13.10% compared to the previous financial year.

Revenue forecast for the current quarter as set by 3 analysts is $886.43 million. Meanwhile, for the quarter ending Jun 2023, a total of 3 analyst(s) estimate revenue growth to $895.8 million.Earnings reports from the last fiscal year show that sales brought in $707 million and $743 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 25.40% before jumping 20.60% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 9.20% for the past 5-year period. While 2023 is set for a -12.10% return in earnings, projections for the next 5 years are at 9.50% annually.

FHN Dividends

First Horizon Corporation has its next earnings report out between April 17 and April 21. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. First Horizon Corporation has a forward dividend ratio of 0.60, with the share yield ticking at 3.86% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

First Horizon Corporation insiders hold 1.34% of total outstanding shares, with institutional holders owning 77.35% of the shares at 78.39% float percentage. In total, 77.35% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 55.86 million shares (or 10.41% of shares), all amounting to roughly $1.28 billion.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 52.98 million shares, or about 9.87% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $1.21 billion.

We also have iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the First Horizon Corporation (FHN) shares. Going by data provided on Dec 30, 2022, iShares Core S&P Midcap ETF holds roughly 16.56 million shares. This is just over 3.09% of the total shares, with a market valuation of $405.84 million. Data from the same date shows that the other fund manager holds a little less at 16.03 million, or 2.99% of the shares, all valued at about 367.16 million.

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