In last trading session, First Horizon Corporation (NYSE:FHN) saw 4.92 million shares changing hands with its beta currently measuring 0.96. Company’s recent per share price level of $14.97 trading at -$0.43 or -2.79% at ring of the bell on the day assigns it a market valuation of $8.31B. That closing price of FHN’s stock is at a discount of -26.85% from its 52-week high price of $18.99 and is indicating a premium of 39.95% from its 52-week low price of $8.99. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.34 million shares which gives us an average trading volume of 7.56 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 -2.79%, in the last five days FHN remained trading in the green while hitting it’s week-highest on Friday, 03/22/24 when the stock touched $14.97 price level, adding 3.36% to its value on the day. First Horizon Corporation’s shares saw a change of 5.72% in year-to-date performance and have moved 1.98% in past 5-day. First Horizon Corporation (NYSE:FHN) showed a performance of 6.62% in past 30-days. Number of shares sold short was 16.78 million shares which calculate 2.42 days to cover the short interests.
First Horizon Corporation (FHN) estimates and forecasts
Statistics highlight that First Horizon Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 34.38% of value to its shares in past 6 months, showing an annual growth rate of -0.70% while that of industry is -8.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -24.40% in the current quarter and calculating -7.70% decrease in the next quarter. This year revenue growth is estimated to fall -4.70% from the last financial year’s standing.
12 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $808.38 million for the same. And 12 analysts are in estimates of company making revenue of $821.64 million in the next quarter that will end on Jun 2024. Company posted $859 million and $1.03 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -5.90% while estimating it to be -20.30% 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 -1.32% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -5.73% while estimates for its earnings growth in next 5 years are of 2.40%.
FHN Dividends
First Horizon Corporation is more likely to be releasing its next quarterly report between April 16 and April 22 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 0.86% of company’s total shares while institution are holding 81.76 percent of that, with stock having share float percentage of 82.46%. Investors also watch the number of corporate investors in a company very closely, which is 81.76% institutions for First Horizon Corporation that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at FHN for having 57.76 million shares of worth $864.66 million. And as of Dec 30, 2023, it was holding 10.41% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 56.95 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 10.26% of outstanding shares, having a total worth of $852.49 million.
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 Dec 30, 2023, the former fund manager was holding 17.53 million shares of worth $262.39 million or 3.16% of the total outstanding shares. The later fund manager was in possession of 16.93 million shares on Jan 30, 2024, making its stake of worth around $253.49 million in the company or a holder of 3.05% of company’s stock.
