Shares of First Horizon Corporation (NYSE:FHN) traded today at $24.24, eclipsing its 52-week high. Approximately 37.2 million shares have changed hands today, as compared to an average 30-day volume of 5.8 million shares.
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.
Over the past year, First Horizon Corporation has traded in a range of $14.67 to $24.24 and is now at $23.75, 62% above that low.
First Horizon Corporation (NYSE:FHN) is currently priced 23.1% above its average consensus analyst price target of $18.27.
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