FHN Stock Summary and Trading Ideas (First Horizon | NYSE:FHN)

First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.

First Horizon trades on the NYSE stock market under the symbol FHN.

As of April 24, 2024, FHN stock price climbed to $14.93 with 3,369,184 million shares trading.

FHN has a beta of 1.60, meaning it tends to be more sensitive to market movements. FHN has a correlation of 0.11 to the broad based SPY ETF.

FHN has a market cap of $8.20 billion. This is considered a Mid Cap stock.

Last quarter First Horizon reported $819 million in Revenue and $.35 earnings per share. This beat revenue expectation by $10 million and exceeded earnings estimates by $.01.

In the last 3 years, FHN stock traded as high as $24.92 and as low as $8.99.

The top ETF exchange traded funds that FHN belongs to (by Net Assets): VTI, IJH, VB, DVY, VBR.

FHN has underperformed the market in the last year with a return of -16.0%, while the SPY ETF gained +24.1%. In the last 3 month period, FHN fell short of the market, returning -0.3%, while SPY returned +4.5%. However, in the most recent 2 weeks FHN has outperformed the stock market by returning +2.8%, while SPY returned -1.7%.

FHN support price is $14.59 and resistance is $15.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FHN stock will trade within this expected range on the day.