On Wednesday, First Horizon National Corporation [NYSE:FHN] has a current price of $10.84, coming out to a daily percentage change of 1.69% with a 52-week range of $6.27 – $17.42.
Other data for the company is as follows:
- Stochastic %K of 89.21
- Weighted Alpha of -30.9
Analysts have the price target for First Horizon National Corporation [FHN] at 11.95. Daily swings are between $10.44 and $10.82.
Wait and see
Holding a Market Cap of $5.68 billion, First Horizon National Corporation has seen a trading range over the last year of $6.27-$17.42.
For the last five days, FHN is up from its last closing price. The average shares trading hands each day is 5.77M, with average 10-day volume coming in at 6.73 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for FHN. When we apply the Elder Force Index to First Horizon National Corporation, we are seeing an Elder Force Indicator number of 152239.68.
The recent performance of the stock is another area that can tell traders how to proceed. FHN is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 8.16.
In the last quarter, FHN made a profit of 305.34 million. In addition, the company has operating cash flow of -$19.95 million.
Looking at popular technical indicators, the company’s 5-day moving average is 10.45 compared to the 50-day moving average of 9.55. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. FHN currently holds a 9-day RSI of 79.04%, while 100-day RSI stands at 50.11%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. FHN’s 9-day MACD is 0.67 and the company’s 100-day MACD stands at 0.99.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 1.49% by insiders and 87.96% by institutions. Regarding institutional holdings, Blackrock Inc. owns 10.83%, while the second top holder, Vanguard Group, Inc. (The), currently owns 10.10%.
Over the last six months, insiders have bought 3,000 with the most recent transaction from Davidson Wendy P, Director, with a purchase at price 9.51 per share.
Overall, the recommended rating for FHN is Strong Buy. Currently, the company has 14 analysts watching the stock, and the average quarterly earnings estimate is 0.19. Quarterly revenue estimates are averaging 795.53M with the high estimate reaching 819.01M and the low at 766.8M.
To review, the current 1-year target estimate is sitting at 11.95, while the current price 10.84. Based on this, we expect the stock to rise considering the aforementioned fundamentals.