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Vitalii Liubimov's Avatar
published in Blogs
May 06, 2023

First Horizon shares dropped after the $13.4 billion merger with TD Bank was called off on Thursday.

"The companies mutually terminated the deal, which was originally announced in late February 2022, due to uncertainty around TD's ability to obtain regulatory approval and when.

On this news, shares of First Horizon fell by more than 36%. TD's shares, listed on the New York Stock Exchange, remained unchanged.

Brian Jordan, CEO of First Horizon, said, "While today's announcement is disappointing and unexpected, First Horizon will continue its growth trajectory, operating from a position of strength and stability."

"Our strong capital position, disciplined credit quality, expense control measures, and well-diversified and stable funding base have enabled our business to navigate the challenging dynamics of the banking industry and remain focused on executing our customer-focused growth plan," he continued."

"On April 25, 2023, the Momentum Indicator of FHN moved below the 0 level, indicating a potential sell signal. In such cases, traders may want to consider selling the stock, shorting the stock, or exploring put options on FHN as a result. Based on historical data, in 48 out of 84 instances where the Momentum Indicator fell below 0, the stock fell further within the subsequent month, resulting in a 57% chance of a continued downward trend.

Moreover, the Moving Average Convergence Divergence Histogram (MACD) for FHN turned negative on May 02, 2023, which could be an indication of a further decline in the stock's price in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor analyzed 43 similar instances when the MACD indicator turned negative, and found that in 24 of those cases, the stock turned lower in the days that followed, resulting in a 56% chance of success."

Related Ticker: FHN

FHN in upward trend: price rose above 50-day moving average on April 19, 2024

FHN moved above its 50-day moving average on April 19, 2024 date and that indicates a change from a downward trend to an upward trend. In of 41 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where FHN's RSI Oscillator exited the oversold zone, of 25 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 58 cases where FHN's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FHN advanced for three days, in of 296 cases, the price rose further within the following month. The odds of a continued upward trend are .

FHN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 261 cases where FHN Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on FHN as a result. In of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for FHN turned negative on April 02, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .

The 10-day moving average for FHN crossed bearishly below the 50-day moving average on April 19, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FHN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. FHN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.979) is normal, around the industry mean (1.021). P/E Ratio (9.714) is within average values for comparable stocks, (20.003). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.342). Dividend Yield (0.040) settles around the average of (0.061) among similar stocks. P/S Ratio (2.664) is also within normal values, averaging (2.967).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FHN’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 77, placing this stock better than average.

Notable companies

The most notable companies in this group are US Bancorp (NYSE:USB), PNC Financial Services Group (NYSE:PNC), Itau Unibanco Holding SA (NYSE:ITUB), Deutsche Bank Aktiengesellschaft (NYSE:DB), Banco Bradesco SA (NYSE:BBD), Huntington Bancshares (NASDAQ:HBAN), Regions Financial Corp (NYSE:RF), KeyCorp (NYSE:KEY), Veritex Holdings (NASDAQ:VBTX).

Industry description

Regional banks have a smaller reach than major banks, and cater mostly to one region of a country, such as a state or within a group of states. They offer services often similar – albeit with some limitations/smaller scale – compared to major banks. Taking deposits, making loans, mortgages, leases, credit cards , fund management, insurance and investment banking. SunTrust Banks, State Street Corp., M&T Bank Corp. are some examples of U.S. regional banks.

Market Cap

The average market capitalization across the Regional Banks Industry is 5.67B. The market cap for tickers in the group ranges from 22.65 to 133.96B. HDB holds the highest valuation in this group at 133.96B. The lowest valued company is VLYPP at 22.65.

High and low price notable news

The average weekly price growth across all stocks in the Regional Banks Industry was 1%. For the same Industry, the average monthly price growth was -1%, and the average quarterly price growth was 12%. MCBC experienced the highest price growth at 47%, while BKKLY experienced the biggest fall at -13%.

Volume

The average weekly volume growth across all stocks in the Regional Banks Industry was 43%. For the same stocks of the Industry, the average monthly volume growth was 10% and the average quarterly volume growth was -14%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 52
Price Growth Rating: 56
SMR Rating: 35
Profit Risk Rating: 76
Seasonality Score: -13 (-100 ... +100)
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General Information

a regional bank

Industry RegionalBanks

Profile
Fundamentals
Details
Industry
Regional Banks
Address
165 Madison Avenue
Phone
+1 901 523-4444
Employees
7300
Web
https://www.firsthorizon.com
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