First Horizon Intrinsic Value Calculation – Versor Investments LP Significantly Decreases Stake in First Horizon Co. in First Quarter
August 15, 2023
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First Horizon ($NYSE:FHN) Co. (FHN) is a financial services company based in Tennessee, United States. The company provides its customers with a range of banking, investment, and insurance services. Versor Investments LP, an institutional investor, has reduced its ownership in FHN by 54.7%, as per its most recent Form 13F filing with the Securities and Exchange Commission (SEC). This decrease in ownership marks a significant change for the stock. The decrease in ownership by Versor Investments LP could be a signal of decreased confidence in the performance of FHN.
It’s worth noting, however, that the firm still holds a significant position in the company with just under 2 million shares. Overall, the news of Versor Investments LP significantly decreasing its stake in First Horizon Co. has caused some concern among investors. While it’s still uncertain what exactly motivated the firm to reduce their ownership in FHN, the news has cast some doubts on the stock’s performance in the near future.
Price History
On one hand, the decrease in Versor’s holdings may raise some red flags for investors and could create a bearish outlook on the stock. On the other hand, it could also be seen as a buying opportunity if the investor believes that FHR’s fundamentals are strong and will improve in the future. Overall, Versor Investment’s decision to reduce its stake in First Horizon Co. is certainly something to keep an eye on for investors. While it is too soon to determine what impact this news will have on the stock, it is important to assess the current market and how it may react to this news before making any investing decisions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Horizon. More…
| Total Revenues | Net Income | Net Margin |
| – | 833 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Horizon. More…
| Operations | Investing | Financing |
| 2.31k | 8.31k | -10.87k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Horizon. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 82.3k | 73.28k | – |
Key Ratios Snapshot
Some of the financial key ratios for First Horizon are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.7% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – First Horizon Intrinsic Value Calculation
At GoodWhale, we conducted a comprehensive analysis of the fundamentals of FIRST HORIZON. After careful research and consideration, our proprietary Valuation Line determined the intrinsic value of FIRST HORIZON share to be around $19.4. The current market price of the stock is at $13.4, indicating a discount of 30.8%. This indicates that FIRST HORIZON is currently undervalued and presents an investment opportunity. More…
Peers
The company’s competitors include Danske Bank A/S, Sberbank of Russia PJSC, and Lumbee Guaranty Bank. First Horizon Corp has a diversified business model, with a focus on commercial banking, retail banking, and capital markets. The company has a strong market position in its core markets, with a significant presence in Tennessee, Arkansas, and Mississippi.
– Danske Bank A/S ($LTS:0NVC)
Danske Bank A/S is a Danish bank that offers a wide range of banking and financial services to customers in Denmark and internationally. The company’s market cap as of 2022 is 103.44B. Danske Bank’s core business activities include personal banking, business banking, and corporate banking. The bank also provides other services such as investment banking, asset management, and private banking. Danske Bank has a strong presence in Denmark, with over 5,000 branches and offices across the country. The bank also has a significant international presence, with operations in a number of countries including Sweden, Norway, Finland, Germany, the UK, and the US.
– Sberbank of Russia PJSC ($OTCPK:LUMB)
Lumbee Guaranty Bank is a regional bank headquartered in Lumberton, North Carolina. The bank has branches in North Carolina, South Carolina, and Virginia. The bank offers a full range of banking services to its customers, including checking and savings accounts, loans, and investment services. Lumbee Guaranty Bank has a market cap of $35.28 million as of 2022.
Summary
First Horizon Co., a financial services company headquartered in Tennessee, has seen a drop in one of its major shareholders. This has caused investors to take notice and re-evaluate the company’s outlook. Analysts suggest that additional capital investments and cost-cutting measures may help bolster the company’s stock price, as well as improvements in economic performance.
The company’s current ratio and debt-to-equity ratio are also indicators of its financial health. Despite the decrease in shareholdings, investors remain positive, with many viewing the company as a good long-term investment opportunity.
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