First Horizon Corporation (NYSE:FHN)’s traded shares stood at 5.36 million during the last session, with the company’s beta value hitting 0.95. At the close of trading, the stock’s price was $15.32, to imply an increase of 3.58% or $0.53 in intraday trading. The FHN share’s 52-week high remains $18.99, putting it -23.96% down since that peak but still an impressive 41.32% since price per share fell to its 52-week low of $8.99. The company has a valuation of $8.50B, with an average of 6.5 million shares in intraday trading volume over the past 10 days and average of 7.54 million shares over the past 3 months.
First Horizon Corporation (NYSE:FHN) trade information
After registering a 3.58% upside in the last session, First Horizon Corporation (FHN) has traded red over the past five days. The stock hit a weekly high of 15.49, jumping 3.58% in its intraday price action. The 5-day price performance for the stock is 0.66%, and 8.42% over 30 days. With these gigs, the year-to-date price performance is 8.19%. Short interest in First Horizon Corporation (NYSE:FHN) saw shorts transact 16.78 million shares and set a 2.42 days time to cover.
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 38.52% up over the last 6 months, with its year-to-date growth rate higher than industry average at -0.70% against -8.60%. Revenue is forecast to shrink -24.40% this quarter before falling -7.70% for the next one. The rating firms project that company’s revenue will shrink -4.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 12 analysts is $808.38 million. Meanwhile, for the quarter ending Jun 2024, a total of 12 analyst(s) estimate revenue growth to $821.64 million.Earnings reports from the last fiscal year show that sales brought in $859 million and $1.03 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -5.90% before dropping -20.30% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -1.32% for the past 5-year period. While 2024 is set for a -5.86% return in earnings, projections for the next 5 years are at 2.40% annually.
FHN Dividends
First Horizon Corporation has its next earnings report out on April 17. 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 3.92% 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 0.86% of total outstanding shares, with institutional holders owning 81.76% of the shares at 82.46% float percentage. In total, 81.76% institutions holds shares in the company, led by Blackrock Inc.. As of Jun 29, 2023, the company held over 73.65 million shares (or 13.18% of shares), all amounting to roughly $830.07 million.
The next major institution holding the largest number of shares is Vanguard Group Inc with 54.5 million shares, or about 9.75% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $614.19 million.
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 Sep 29, 2023, iShares Core S&P Midcap ETF holds roughly 17.43 million shares. This is just over 3.12% of the total shares, with a market valuation of $192.1 million. Data from the same date shows that the other fund manager holds a little less at 16.72 million, or 2.99% of the shares, all valued at about 188.44 million.
