First Horizon National Corporation (FHN)
First Horizon Corporation is the banking holding company for First Horizon Bank providing various financial services. The company is headquartered in Memphis, Tennessee.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 48.31% per annum.
- FHN price at the close of January 24, 2025 was $21.08 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 141.98% per annum.
- FHN price at the close of January 24, 2025 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of FHN price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: May 4, 2023
End date: January 24, 2025
a = 1.0038
b = 0.0011
s = 0.0766
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 48.31%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0766) – 1
= 35.85%
May 4, 2023 calculations
Top border of price channel:
Exp(Y824)
= Exp(a + b × X824 + 2 × s)
= Exp(a + b × 1,193 + 2 × s)
= Exp(1.0038 + 0.0011 × 1,193 + 2 × 0.0766)
= Exp(2.4452)
= $11.53
Bottom border of price channel:
Exp(Y824)
= Exp(a + b × X824 – 2 × s)
= Exp(a + b × 1,193 – 2 × s)
= Exp(1.0038 + 0.0011 × 1,193 – 2 × 0.0766)
= Exp(2.1388)
= $8.49
January 24, 2025 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(1.0038 + 0.0011 × 1,824 + 2 × 0.0766)
= Exp(3.1265)
= $22.79
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(1.0038 + 0.0011 × 1,824 – 2 × 0.0766)
= Exp(2.8201)
= $16.78
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 48.31% per annum.
- FHN price at the close of January 24, 2025 was $21.08 and was inside the primary price channel.
Secondary Trend
Start date: August 2, 2024
End date: January 24, 2025
a = -1.3284
b = 0.0024
s = 0.0522
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0024) – 1
= 141.98%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0522) – 1
= 23.22%
August 2, 2024 calculations
Top border of price channel:
Exp(Y1,137)
= Exp(a + b × X1,137 + 2 × s)
= Exp(a + b × 1,649 + 2 × s)
= Exp(-1.3284 + 0.0024 × 1,649 + 2 × 0.0522)
= Exp(2.7683)
= $15.93
Bottom border of price channel:
Exp(Y1,137)
= Exp(a + b × X1,137 – 2 × s)
= Exp(a + b × 1,649 – 2 × s)
= Exp(-1.3284 + 0.0024 × 1,649 – 2 × 0.0522)
= Exp(2.5595)
= $12.93
January 24, 2025 calculations
Top border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(-1.3284 + 0.0024 × 1,824 + 2 × 0.0522)
= Exp(3.1920)
= $24.34
Bottom border of price channel:
Exp(Y1,256)
= Exp(a + b × X1,256 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(-1.3284 + 0.0024 × 1,824 – 2 × 0.0522)
= Exp(2.9831)
= $19.75
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 141.98% per annum.
- FHN price at the close of January 24, 2025 was inside the secondary price channel.