![]() ![]() as of 10:58:05 PDT and /or other sources. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.īased on information from California Regional Multiple Listing Service, Inc. ![]() All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. ("CRMLS") and is protected by all applicable copyright laws. The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. © 2023 First Multiple Listing Service, Inc. If you believe any FMLS listing contains material that infringes your copyrighted work please () to review our DMCA policy and learn how to submit a takedown request. Information is deemed reliable but is not guaranteed. The listing brokerage is identified in any listing details. CNBC's Michael Bloom contributed reporting.Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. He also views the company's $100 billion asset threshold milestone from $81 billion at the end of the first quarter as a potential obstacle given new standards under discussion for regulating the banking system. FHN YTD mountain First Horizon shares tumble "Should a recession emerge, with the Fed potentially limited in its ability to lower interest rates, which is the fuel to the countercyclical businesses, the company will likely see much less benefit in terms of historical buffering capabilities," Alexopoulos said. He also called the company's balance sheet growth a "bit of a wildcard" following commentary from its CEO at its recent investor day. Looking ahead, Alexopoulos is bracing for significant near-term headwinds to the company's bottom line given an elevated expense growth rate ranging between 6% and 8% as the company invests in talent and technology. Amid this backdrop, the stock has tumbled nearly 52%, with the firm's $13 price target suggesting 10% upside from Monday's close. Shares of First Horizon faced significant pressure this year as the regional banking crisis unraveled and led to the collapse of Silicon Valley Bank and Signature Bank, and the takeover of First Republic. "With expense growth to remain elevated in 2023/2024, deposit costs continuing to rise, fee income acting as a headwind particularly if the Fed doesn't pivot, and the absence of a near-term catalyst, we move to Neutral," he wrote in a Tuesday note to clients. The Wall Street firm previously held an overweight rating on shares and a $20 price target. Analyst Steven Alexopoulos moved to a neutral rating on the regional bank stock after a nonrating period, saying the company's recent investor day failed to improve near-term confidence. Rising expenses denting earnings growth create a murky near-term setup for shares of First Horizon, according to JPMorgan Chase. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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