In yesterday’s Wall Street session, First Horizon Corporation (NYSE:FHN) shares traded at $15.20, up 0.66% from the previous session.
FHN stock price is now -2.34% away from the 50-day moving average and 5.12% away from the 200-day moving average. The market capitalization of the company currently stands at $8.15B.
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With the price target maintained at $18, Raymond James recently Downgraded its rating from Strong Buy to Outperform for First Horizon Corporation (NYSE: FHN). On July 17, 2024, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock keeping its target price maintained at $18, while ‘Stephens’ rates the stock as ‘Overweight’
A total of 1.34% of the company’s stock is owned by insiders.
During the past 12 months, First Horizon Corporation has had a low of $10.08 and a high of $17.46. According to the stock market information, the enterprise value for the company is $10567574528, which is based on a 12.57 price-to-earnings ratio, a 3.70 price-to-earnings-growth ratio, and a beta of 0.92. The fifty day moving average price for FHN is $15.554 and a two-hundred day moving average price translates $14.48205 for the stock.
The latest earnings results from First Horizon Corporation (NYSE: FHN) was released for 2024-06-30. The net profit margin was 13.35% and return on equity was 8.22% for FHN. The company reported revenue of $1.09 billion for the quarter, compared to $1.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.68 percent. For the current quarter, analysts expect FHN to generate $820.95M in revenue.
First Horizon Corporation(FHN) Company Profile
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also accepts deposits; provides underwriting services for bank-eligible securities and other fixed-income securities by financial subsidiaries; sells loans and derivatives; financial planning; and offers investment and financial advisory services. In addition, it offers mortgage banking; loan syndications; brokerage services; commercial and business banking for business enterprises, consumer banking, and private client and wealth management services; capital markets, professional commercial real estate, mortgage warehouse and asset-based lending, franchise and equipment finance, tax credit finance, energy and healthcare finance, asset management, and corporate and correspondent banking services. Further, the company provides transaction processing services including check clearing services and remittance processing, credit cards, investment, and sale of mutual fund and retail insurances, as well as trust, fiduciary, and agency services. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.
