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First Horizon Corp (FHN) stock

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NYSE: FHN NYSE Regional Banks Next results ~January 13, 2027

B Fundamentals grade

First Horizon Corp is a US-listed company in the regional banks industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$22

Valuation models combined (6)

Base case. Range ~$14–$24. Weighted average of 6 models (residual income, justified price-to-book, price-to-book vs return on equity (peers), price-to-book vs peers, forward price-to-earnings vs peers, dividend discount (two-stage)), the residual income counting double.

Price vs value

Modestly overvalued

The price is inside our value range, 9% above our base value.

Price used: $23.41, November 3, 2026

First Horizon Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 21 sales by directors and officers, last 12 monthsInsider trades
  • Funds303 adding, 291 cuttingOf 65 active managers that changed their stake, 37 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter First Horizon files

Where First Horizon stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.53bn, up 10.3% on a year earlier, faster than 9.0% a quarter earlier. The diluted share count is down 6.4% on a year earlier, which lifts each remaining share. Our valuation models combined value is $23.24 a share, against a share price of $23.00.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 13, 2027 (estimated)

First Horizon Corp's trailing-twelve-month revenue grew 10.3% year on year, with a free-cash-flow margin of 28.8%. Where it stands out: change in share count of -6.4% ranks 12 of 230 regional banks companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 4.7% while net income grew 25.3%: a 21pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 28.8% of revenue turned into free cash flow.
  • Shrinking share count. Diluted shares fell 6.4% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $1.6bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Weakest spot: stock pay as % of revenue. Stock pay as % of revenue of 1.6% ranks 136 of 206 regional banks companies we cover (median 1.3%).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.53 against an average estimate of $0.52: beat by 1.1%
Revenue
$887m, up 6.9% on a year earlier
Share reaction
+0.9% in the first session after the results on October 15, 2026, against -0.8% for the S&P 500
Next report
January 13, 2027; average EPS estimate $0.54

First Horizon's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.0%
  • 1 week+0.3%
  • 1 month-0.0%
  • This year+1.1%
  • 1 year+12.2%
  • 5 years+61.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.5B
Net margin
29.9%
EPS (TTM, diluted)
$2.14

Growth

Revenue growth
+10.3%
Change in growth rate
+1.3 pts
Share count change
−6.4%

Earnings

Last results
October 15, 2026
Next results (est.)
January 14, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Announcement
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Results
  8. Leadership
  9. Announcement
  10. Governance
  11. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

First Horizon Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$22
Price used
$23.41close November 3, 2026
Implied change
▼ 8%
Uncertainty
Low

How we got here: the combined value of 6 valuation models built for a business like First Horizon Corp (see the models table below and how they are combined) , with a 9.13% cost of equity. The models span ~$14–~$24; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value First Horizon Corp as a bank or lender, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$21 ~$16–$30 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$23 ~$20–$27 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$24 ~$15–$34 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$14 ~$18–$28 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$21–$27 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$24 ~$20–$29 Included
Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$22 ~$14–$24 6 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare First Horizon Corp with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

73 /100

Strong moat

How hard First Horizon's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Net income has been a median 1.0% of total assets over 10 years.

  • Durability 15 / 20

    Net margin has been a median 27.3%; its worst year was 12.3%.

  • Discipline 20 / 20

    The diluted share count fell 11.1% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (78 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 13, 2027, before the open. Analysts expect revenue of $891m and EPS of $0.54 (range $0.49 to $0.58) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.14 +13% $3.5bn +3%
Next $2.33 +9% $3.7bn +5%

Next year's EPS estimate has moved +0.9% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.5% on 90 days ago. In the last 30 days, 6 analysts raised First Horizon Corp's forecast and 2 cut it.

Consensus EPS forecast First Horizon Corp, last 90 days
$2.10 $2.15 $2.20 $2.25 $2.30 $2.35 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.13 Current fiscal year, 60 days ago: $2.14 Current fiscal year, 30 days ago: $2.14 Current fiscal year, 7 days ago: $2.14 Current fiscal year, Now: $2.14 $2.14 Next fiscal year, 90 days ago: $2.31 Next fiscal year, 60 days ago: $2.31 Next fiscal year, 30 days ago: $2.31 Next fiscal year, 7 days ago: $2.32 Next fiscal year, Now: $2.33 $2.33

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.13$2.31
60 days ago $2.14$2.31
30 days ago $2.14$2.31
7 days ago $2.14$2.32
Now $2.14$2.33

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.52 $0.53 +1.1%
Jun 2026 $0.52 $0.54 +3.8%
Mar 2026 $0.50 $0.53 +6.7%
Dec 2025 $0.46 $0.52 +12.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 15, 2026

No numeric guidance in First Horizon Corp's latest earnings release (filed October 15, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

21 analysts, Oct 2026
Buy838%
Hold1362%
Sell00%

Monthly trend

  1. Oct 2026351321
  2. Sep 2026351321
  3. Aug 2026351119
  4. Jul 2026351119

Counts of recommendations published by analysts covering First Horizon Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.01
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
1.0%
of shares
Employees
7,375
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +13.8%

$20.78 on October 31, 2025 to $23.64

ThenNowEffect
Revenue (last 12 months) $3.2bn $3.5bn +10.3%
Net margin 26.4% 29.9% +13.6%
P/E multiple 13.0x 11.0x −15.0%
Share count 527m 494m +6.8%

Biggest factor: p/e multiple.

Last 3 years +120.0%

$10.75 on November 3, 2023 to $23.64

ThenNowEffect
Revenue (last 12 months) $3.6bn $3.5bn −3.3%
Net margin 30.4% 29.9% −1.4%
P/E multiple 5.5x 11.0x +99.9%
Share count 569m 494m +15.4%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FHN+33%+54%−39%+48%+22%+1%
Industry peers (median)+34%−4%−2%+16%+10%+24%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FHN75%75%50%58%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FHN−22%−12%−61%−16%−27%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 64% from January 11, 2018 to March 23, 2020. Getting back needed a 180% gain, reached on April 27, 2021, 400 days after the low.

Price behaviour

52-week range
$20.03 – $26.04
From 52-week high
−9.2%
vs 50-day average
0.0%
vs 200-day average
−1.7%
Volatility (1 year)
22%
Beta vs S&P 500
0.64

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±3.8%
After a week
7 up, 5 down
typical move ±4.4%
After a month
8 up, 3 down
typical move ±8.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 15, 2026 +0.9% −0.8% +3.8% —
July 15, 2026 −1.2% −0.1% 0.0% +1.2%
April 15, 2026 −1.1% +1.0% +1.4% −2.2%
January 15, 2026 +0.3% +0.2% −0.5% +3.0%
October 15, 2025 −13.4% −0.2% −10.4% −7.0%
July 16, 2025 +4.7% +0.9% +6.3% +5.0%
April 16, 2025 −2.6% −2.1% +1.2% +15.8%
January 16, 2025 +0.8% +0.8% −1.4% +3.6%
October 16, 2024 +4.4% +0.4% +3.0% +20.6%
July 17, 2024 −7.2% −2.2% −6.2% −10.8%
April 17, 2024 +2.7% −0.8% +7.3% +14.4%
January 18, 2024 +6.3% +2.1% +11.3% +4.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How First Horizon Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

FHN First Horizon Corp Grade B $23.56

Own 100 shares, sell the $24.00 call expiring December 18, 2026 (45 days) for $0.55 a share — $55.00 per contract.

Bid $0.55, ask $0.70, quoted Tue 3 Nov, 14:26 New York time with FHN at $23.56. Option prices move with the shares: check the live chain at your broker before trading.

  • If FHN ends below $24.00: you keep your shares and the $55.00 — 2.3% extra on the position, 18.9% a year at that pace.
  • If it ends above $24.00: your shares are sold at $24.00, a total return of 4.2% including the premium — at or above our value of ~$22.
$100 $0 −$460 Our value $22.00 Break-even $23.01 Price $23.56
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$55.00
Annualised
18.9%
Break-even
$23.01
Max gain
$99.50
Chance of selling
~46%

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

First Horizon Corp in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) First Horizon Corp
$3.1B $3.2B $3.3B $3.4B $3.5B $3.6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.5B Revenue (TTM), FY23 Q4: $3.5B Revenue (TTM), FY24 Q1: $3.4B Revenue (TTM), FY24 Q2: $3.2B Revenue (TTM), FY24 Q3: $3.3B Revenue (TTM), FY24 Q4: $3.2B Revenue (TTM), FY25 Q1: $3.2B Revenue (TTM), FY25 Q2: $3.2B Revenue (TTM), FY25 Q3: $3.3B Revenue (TTM), FY25 Q4: $3.4B Revenue (TTM), FY26 Q1: $3.5B Revenue (TTM), FY26 Q2: $3.5B $3.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.5B
FY23 Q4 $3.5B
FY24 Q1 $3.4B
FY24 Q2 $3.2B
FY24 Q3 $3.3B
FY24 Q4 $3.2B
FY25 Q1 $3.2B
FY25 Q2 $3.2B
FY25 Q3 $3.3B
FY25 Q4 $3.4B
FY26 Q1 $3.5B
FY26 Q2 $3.5B
Revenue growth, TTM YoY First Horizon Corp
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 15.6% Revenue growth, TTM YoY, FY23 Q4: 8.0% Revenue growth, TTM YoY, FY24 Q1: 2.0% Revenue growth, TTM YoY, FY24 Q2: -11.9% Revenue growth, TTM YoY, FY24 Q3: -8.1% Revenue growth, TTM YoY, FY24 Q4: -8.0% Revenue growth, TTM YoY, FY25 Q1: -7.1% Revenue growth, TTM YoY, FY25 Q2: -0.4% Revenue growth, TTM YoY, FY25 Q3: -0.0% Revenue growth, TTM YoY, FY25 Q4: 7.2% Revenue growth, TTM YoY, FY26 Q1: 9.0% Revenue growth, TTM YoY, FY26 Q2: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 15.6%
FY23 Q4 8.0%
FY24 Q1 2.0%
FY24 Q2 -11.9%
FY24 Q3 -8.1%
FY24 Q4 -8.0%
FY25 Q1 -7.1%
FY25 Q2 -0.4%
FY25 Q3 -0.0%
FY25 Q4 7.2%
FY26 Q1 9.0%
FY26 Q2 10.3%
FCF margin (TTM) First Horizon Corp
0% 20% 40% 60% FY12 Q2 FY13 Q1 FY25 Q1 FY26 Q2 FCF margin (TTM), FY12 Q2: 0.5% FCF margin (TTM), FY12 Q3: 13.0% FCF margin (TTM), FY12 Q4: 27.3% FCF margin (TTM), FY13 Q1: 46.0% FCF margin (TTM), FY24 Q3: 43.0% FCF margin (TTM), FY24 Q4: 38.4% FCF margin (TTM), FY25 Q1: 23.1% FCF margin (TTM), FY25 Q2: 30.4% FCF margin (TTM), FY25 Q3: 11.7% FCF margin (TTM), FY25 Q4: 17.4% FCF margin (TTM), FY26 Q1: 15.1% FCF margin (TTM), FY26 Q2: 28.8% 28.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY12 Q2 0.5%
FY12 Q3 13.0%
FY12 Q4 27.3%
FY13 Q1 46.0%
FY24 Q3 43.0%
FY24 Q4 38.4%
FY25 Q1 23.1%
FY25 Q2 30.4%
FY25 Q3 11.7%
FY25 Q4 17.4%
FY26 Q1 15.1%
FY26 Q2 28.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

What First Horizon earned on its loans and securities in FY2025, what it paid depositors and lenders, and how its revenue split between running costs, credit losses, tax and profit.

  1. Interest income $4.2B
  2. Fee and other income $797M · 23.3%
  3. Interest paid $1.6B
  4. Net interest income $2.6B · 76.7%
  5. Revenue $3.4B
  6. Non-interest expense $2.1B · 60.7%
  7. Credit-loss provisions $43M · 1.3%
  8. Pre-tax profit $1.3B · 38.1%
  9. Income tax $282M · 8.2%
  10. Other $38M · 1.1%
  11. Net income $982M · 28.7%

Shares of revenue. Source: First Horizon's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2,011 1,394 1,443 1,282 1,167 1,151 1,162 1,271 1,333 1,936 1,817 3,154 3,070 3,207 3,467 3,190 3,419 3,526
Net income −270 50 131 −28 27 223 86 227 166 545 441 845 999 900 897 775 982 1,056
Diluted EPS −$1.41 −$0.25 $0.50 −$0.11 $0.09 $0.91 $0.34 $0.94 $0.65 $1.65 $1.38 $1.89 $1.74 $1.53 $1.54 $1.36 $1.87 $2.14
Growth (year on year)
Revenue −14.9% −30.7% +3.5% −11.1% −9.0% −1.4% +1.0% +9.3% +4.9% +45.3% −6.1% +73.6% −2.7% +4.5% +8.1% −8.0% +7.2% +10.3%
Net income — — +161.3% −121.2% — +727.1% −61.4% +164.4% −27.1% +229.3% −19.1% +91.6% +18.2% −9.9% −0.3% −13.6% +26.7% +25.3%
Diluted EPS — — — −122.0% — +911.1% −62.6% +176.5% −30.9% +153.8% −16.4% +37.0% −7.9% −12.1% +0.7% −11.7% +37.5% +33.8%
Margins
Net margin −13.4% 3.6% 9.1% −2.2% 2.3% 19.3% 7.4% 17.9% 12.4% 28.1% 24.3% 26.8% 32.5% 28.1% 25.9% 24.3% 28.7% 29.9%
Free-cash-flow margin 37.9% 52.1% 0.6% 27.3% 33.4% 57.9% 27.9% 9.2% −23.7% 10.1% 43.0% −6.6% 22.4% 70.6% 36.4% 38.4% 17.4% 28.8%
Cash flow
Cash from operations 784 768 44 372 431 705 367 180 −29 234 830 172 725 2,291 1,299 1,268 628 1,059
Capital spending 21 43 35 22 41 39 44 63 288 38 49 379 37 28 37 44 33 42
Free cash flow 763 725 9 350 390 666 324 117 −316 196 781 −207 688 2,263 1,262 1,224 595 1,017
Stock-based pay 9 12 14 16 16 11 14 18 21 23 22 32 43 75 36 59 61 55
Free cash flow after stock pay 754 713 −6 333 374 654 310 100 −337 173 759 −239 645 2,188 1,226 1,165 534 962
Balance sheet
Cash 919 769 828 — — — — 1,038 1,452 1,405 1,267 1,648 1,788 1,543 1,731 1,537 1,595 1,628
Total debt 3,653 3,409 — 441 181 157 138 83 2,626 115 3,518 2,198 2,124 2,506 2,549 3,400 3,254 3,003
Net debt (negative = net cash) 2,734 2,640 −828 — — — — −955 1,174 −1,290 2,251 550 336 963 818 1,863 1,659 1,375
Diluted shares 234m 236m 263m 248m 240m 237m 236m 235m 244m 327m 316m 434m 551m 566m 562m 544m 511m 494m
Returned to shareholders
Dividends — 0 8 10 38 47 54 64 80 139 171 222 333 324 335 332 314 312
Buybacks 0 1 45 134 92 44 33 97 6 105 134 4 416 12 10 626 918 881
Total returned 0 1 53 144 130 91 87 161 85 244 305 226 749 336 345 958 1,232 1,193

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$881M
Dividends (TTM)
$312M
Returned to shareholders
117%
of free cash flow
Buybacks, last 3 fiscal years
$1.6B
Diluted share count
−6.4%
year over year
Total shareholder yield
10.5%
dividends 2.8% + buybacks 7.8% of market value
Dividend payout ratio
30%
of net income paid out

Competitors: side by side with peers

Closest by revenue in regional banks
Last 12 months unless stated FHN BPOP ZION EWBC WAL UMBF Median
Revenue, last 12 months $3.5bn $3.4bn $3.7bn $3.1bn $4.0bn $3.0bn $255m
Revenue growth, last 12 months 10.3% 9.9% 15.2% 13.7% 17.9% 27.3% 12.5%
Revenue growth, 3-year average −1.1% 2.5% 4.0% 6.0% 15.0% 27.2% 6.0%
Revenue growth, latest quarter 6.9% 9.2% 35.7% 12.5% 8.1% 13.9% 10.7%
Net margin 29.9% 28.9% 31.3% 46.6% 24.9% 34.3% 28.7%
Cash from operations / revenue 30.0% 29.9% 48.2% 63.7% −4.1% 39.4% 34.3%
Free-cash-flow margin 28.8% 24.1% 44.9% 63.7% −6.9% 37.9% 31.4%
Free-cash-flow margin, 3-year average 35.1% 19.2% 26.8% 57.8% −55.7% 31.8% 29.9%
Stock pay / revenue 1.6% — 1.0% 2.8% 1.3% 1.4% 1.2%
Change in share count −6.4% −6.5% −0.2% −0.4% −1.2% 14.4% 0.4%

Median of all 245 companies we cover in regional banks. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

245 regional banks companies
Measure Company Peer median Rank
Revenue growth Growth 10.3% 12.5% 149 of 245
Change in growth rate Growth +1.3pp +0.0pp 88 of 244
Net margin Profitability 29.9% 28.7% 102 of 245
Stock pay as % of revenue Cash generation 1.6% 1.3% 136 of 206
Change in share count Balance sheet -6.4% 0.4% 12 of 230

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Commercial Consumer and Wealth $3B 88.7% ▲ 1.4%
Wholesale $489M 14.3% ▲ 15.3%
Corporate -$103M -3.0% —

From First Horizon Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.6B
Institutions reporting
671
Shares held vs prior quarter
▲ 2.1%
Positions opened / closed
76 / 51

Top buyers and sellers, Q2 2026: 303 institutions bought and 291 sold ; the biggest buyer was Primecap Management Co (+2.2M shares) and the biggest seller North Reef Capital Management LP (−5.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.5B 58.7M 14.3% ▲ 2.7%
Bank Of New York Mellon Corp $747M 29.2M 7.1% ▼ 1.0%
Vanguard Portfolio Management LLC $575M 22.4M 5.4% ▼ 2.1%
Vanguard Capital Management LLC $548M 21.4M 5.2% ▼ 1.0%
State Street Corp $475M 18.4M 4.5% ▲ 0.2%
Dimensional Fund Advisors LP $420M 16.4M 4.0% ▲ 5.0%
LSV Asset Management $336M 13.1M 3.2% ▲ 8.7%
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC $326M 12.7M 3.1% ▼ 10.9%
North Reef Capital Management LP $236M 9.2M 2.2% ▼ 36.3%
Geode Capital Management, LLC $232M 9.1M 2.2% ▼ 0.8%
AQR Capital Management LLC $225M 8.8M 2.1% ▲ 17.0%
Citadel Advisors LLC $207M 8.1M 2.0% ▲ 16.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not First Horizon Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.1M 21 trades by 5 insiders · 0% under pre-set plans
Net ▼ $6.1M net selling
Insider Date Trade Shares Price Value
Ardoin Elizabeth A SEVP, Chief Communications Ofc August 20, 2026 Sell 3,502 $24.85 $87,025
Ardoin Elizabeth A SEVP, Chief Communications Ofc August 20, 2026 Sell 1,000 $24.85 $24,850
Ardoin Elizabeth A SEVP, Chief Communications Ofc August 20, 2026 Sell 3,763 $24.86 $93,548
Ardoin Elizabeth A SEVP, Chief Communications Ofc August 20, 2026 Sell 3,324 $24.86 $82,635
Ardoin Elizabeth A SEVP, Chief Communications Ofc August 20, 2026 Sell 6,724 $24.86 $167,159
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 10,101 $24.15 $243,939
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 3,650 $24.16 $88,184
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 2,852 $24.22 $69,075
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 18,839 $24.14 $454,773
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 2,429 $24.18 $58,733
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 3,912 $24.18 $94,592
Jordan D Bryan Chairman, President & CEO January 29, 2026 Sell 2,902 $24.21 $70,257

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 16 trades and filings

No trades in First Horizon Corp disclosed in the last 12 months; 16 earlier trades on record.

  • Steve Cohen(D-TN 9):Purchase, $15,001 - $50,000, traded May 26, 2023, filed June 26, 2023
  • Zoe Lofgren(D-CA 18):Sale (full), $1,001 - $15,000, traded May 25, 2023, filed June 6, 2023
  • Chris Jacobs(R-NY 27):Purchase, $1,001 - $15,000, traded December 12, 2022, filed January 20, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 14, 2027 estimated from the company's past filing pattern, not announced

  • October 15, 2026
  • July 15, 2026
  • April 15, 2026
  • January 15, 2026
  • October 15, 2025
  • July 16, 2025

Recent SEC filings

Data status

When each part of this page on First Horizon Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

First Horizon Corp in brief

What does First Horizon Corp do?
First Horizon Corp is a US-listed company in the regional banks industry. Its financial year ends in December.
What is First Horizon Corp's stock ticker?
First Horizon Corp trades under the ticker FHN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is First Horizon Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, First Horizon Corp reported revenue of $3.5B, 10.3% higher than a year earlier, according to its SEC filings.
What is First Horizon Corp's free cash flow?
First Horizon Corp's free-cash-flow margin is 28.8% of revenue over the trailing twelve months.
Who are First Horizon Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Bank Of New York Mellon Corp and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is First Horizon Corp buying back stock, and does it pay a dividend?
First Horizon Corp spent $881M on share repurchases over the trailing twelve months, and its diluted share count fell 6.4% over the year.
What is First Horizon Corp's market cap?
On November 2, 2026, First Horizon Corp's market capitalisation was about $11.7B, with a price-to-earnings ratio of 11.0 and net debt of $1.4B. Market figures come from third-party market data and may be delayed.
Does First Horizon Corp pay a dividend?
Yes: First Horizon Corp paid $312M in dividends over the trailing twelve months, a dividend yield of 2.75% and a payout ratio of 29.5%.
Who are First Horizon Corp's competitors?
In our Regional Banks peer group, the companies closest to First Horizon Corp are Popular, Inc., Zions Bancorporation, National Association, East West Bancorp Inc, Western Alliance Bancorporation and UMB Financial Corp. The side-by-side comparison below sets their revenue, margins and growth against First Horizon Corp's.
Are insiders buying or selling First Horizon Corp stock?
Over the last 12 months, First Horizon Corp's directors and officers reported 0 open-market purchases and 21 sales on Form 4. The insider trading page charts every trade.
When is First Horizon Corp's next earnings date?
Around January 13, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — First Horizon Corp announces its own schedule.