Investing in First Horizon Corporation (FHN): What You Must Know


First Horizon Corporation’s recent filing unveils that its Director FENSTERMAKER WILLIAM H acquired Company’s shares for reported $0.12 million on Jun 07. In the deal valued at $11.62 per share,10,000 shares were bought. As a result of this transaction, FENSTERMAKER WILLIAM H now holds 256,312 shares worth roughly $ 3.27 million.

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Then, PALMER VICKI R bought 2,000 shares, generating $22,041 in total proceeds. Upon buying the shares at $11.02, the Director now owns 95,650 shares.

Before that, FENSTERMAKER WILLIAM H bought 2,950 shares. First Horizon Corporation shares valued at $28,190 were divested by the Director at a price of $9.56 per share. As a result of the transaction, FENSTERMAKER WILLIAM H now holds 246,312 shares, worth roughly $3.14 million.

Robert W. Baird initiated its First Horizon Corporation [FHN] rating to a Neutral in a research note published on Friday, July 18, 2023; the price target was $14. PT values the company’s stock at a premium of 8.93 to its Friday closing price.

Price Performance Review of FHN

On Friday, First Horizon Corporation [NYSE:FHN] saw its stock jump 1.59% to $12.75. On the same session, the stock had its day’s lowest price of $12.66, but rose to a high of $12.86. Over the last five days, the stock has gained 4.34%. First Horizon Corporation shares have fallen nearly -47.96% since the year began. Nevertheless, the stocks have fallen -43.63% over the past one year. While a 52-week high of $24.92 was reached on 02/23/23, a 52-week low of $8.99 was recorded on 05/04/23. SMA at 50 days reached $12.60, while 200 days put it at $17.78. A total of 3.73 million shares were traded, compared to the trading of 5.96 million shares in the previous session.

Levels Of Support And Resistance For FHN Stock

The 24-hour chart illustrates a support level at 12.65, which if violated will result in even more drops to 12.56. On the upside, there is a resistance level at 12.85. A further resistance level may holdings at 12.96. The Relative Strength Index (RSI) on the 14-day chart is 50.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.05%. Stochastics %K at 39.83% indicates the stock is a holding.

How much short interest is there in First Horizon Corporation?

A steep rise in short interest was recorded in First Horizon Corporation stocks on Aug 14, 2023, dropping by -4.78 million shares to a total of 11.87 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 16.65 million shares. There was a decline of -40.27%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.79% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.46.

First Horizon Corporation [FHN] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 63,990,208 shares, or roughly 11.90% of the outstanding FHN shares. In other words, the investor’s shares have fallen by -1,511,422 from its previous 13-F filing of 65501630.0. Additionally, The Vanguard Group, Inc. decreased -1.11% of its stake after which the total value it holdings stand at $731,625,456, while SSgA Funds Management, Inc. added 5.65% of its stake to hold $336.51 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 14,903,041 shares of First Horizon Corporation, while Balyasny Asset Management LP bought 9,307,691 shares. At present, Citadel Advisors LLC is holding 11,509,450 shares valued at $156.87 million. Dimensional Fund Advisors LP owned 8,942,128 shares of the company at the time of its most recent 13F filing, worth $121.88 million.

According to FactSet, First Horizon Corporation’s share price will average $14.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.55 percent from its previous closing price of $12.55. Analysts expect First Horizon Corporation stock to reach the higher price of $16.00, while the lowest price estimate is $13.50. However, 13 analysts have rated FHN stock as an Overweight in their predictions for 2023.


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