First Horizon (FHN) Stock Could Be 49% Undervalued As Mortgage Sale Raises Questions

First Horizon has delivered a very strong share price gain over the past few years, yet its latest mortgage portfolio shake up and net loss raise a fresh question about whether the current valuation is supported by the returns it earns on its capital. With the stock now resetting after recent weakness, investors are asking how well the business is using each dollar of equity to justify where the price sits today. Over the past 3 years, First Horizon has returned about 138.9%, which puts real...