First Horizon Corporation (NYSE:FHN) price closed higher on Monday, November 11 and jumping 1.73% above its previous close.
A look at the daily price movement shows that the last close reads $19.69, with intraday deals fluctuated between $19.895 and $20.525. The company’s 5Y monthly beta was ticking 0.882 while its P/E ratio in the trailing 12-month period read 14.56. Taking into account the 52-week price action we note that the stock hit a 52-week high of $20.11 and 52-week low of $10.96. The stock added 22.28% on its value in the past month.
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First Horizon Corporation, which has a market valuation of $10.67 billion, is expected to release its quarterly earnings report in December. The company stock has a Forward Dividend ratio of 0.60, while the dividend yield is 3.00%. It is understandable that investor optimism is growing ahead of the company’s current quarter results.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give FHN a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 12 analysts have assigned FHN a recommendation rating as follows: 1 rate it as a Hold; 11 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the First Horizon Corporation (FHN) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 1.94. The overview shows that FHN’s price is at present 12.64% off the SMA20 and 21.36% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 73.77, with weekly volatility standing at 2.94%. The indicator jumps to 2.52% when calculated based on the past 30 days. First Horizon Corporation (NYSE:FHN)’s beta value is holding at 0.91, while the average true range (ATR) indicator is currently reading 0.59. Considering analysts have assigned the stock a price target range of $16-$21 as the low and high respectively, we find the trailing 12-month average consensus price target to be $20. Based on this estimate, we see that current price is roughly 20.12% off the estimated low and -4.84% off the forecast high. Investors will no doubt be excited to see the share price rise to $20, which is the median consensus price, and at that level FHN would be 0.15% from current price.
An analysis of the First Horizon Corporation (NYSE:FHN) stock in terms of its daily trading volume indicates that the 3-month average is 6.05 million. However, this figure increases on the past 10-day timeline to an average of 7.31 million.
Current records show that the company has 558.84M in outstanding shares. The insiders’ percentage holdings are 1.37% of outstanding shares while the percentage share held by institutions stands at 84.87%. The stats also highlight that short interest as of 2024-10-15, stood at 6.51 million shares, which puts the short ratio at the time at 0.93. From this we can glean that short interest is 158.00 of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 4.92 million. But the 41.45% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
