FHN

First Horizon Corporation

$23.54

+1.47% Oct 22 close

FinancialsS&P 400 Compare Technicals

1M 3M 6M 1Y 2Y

FHNSPY

+3.0%

+0.9%

-7.1%

-3.4%

YTD

+0.6%

+17.4%

Live chart

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What they do

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. It operates through Regional Banking, Specialty Banking, and Corporate segments. The company offers commercial banking, business banking, consumer banking, private client investment, wealth management, financial planning.

Financial Services · Banks - Regional

For information only · Important disclosures

Grades vs sector

Momentum

52nd percentile in sector

C+

12-1 return: +10.8%
Percentile within its GICS sector across the S&P 1500.

Growth

1st percentile in sector

Revenue growth (YoY): -51.7%
Percentile within its GICS sector across the S&P 1500.

Value

57th percentile in sector

B-

Forward E/P: 10.2% · EBITDA/EV: –
Percentile within its GICS sector across the S&P 1500.

Profitability

33rd percentile in sector

C-

Profit margin: +23.4% · Return on equity: +7.9%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 5 live models right now.

Quality Growth

Outside this model's universe or screens

Momentum Top 15

Outside this model's universe or screens

Momentum Blend

Not in the current book

New Highs Growth

Outside this model's universe or screens

Coteau Long Book

Not in the current book

News

More news

First Horizon Corporation to Participate in the BancAnalysts Association of Boston Conference

PR Newswire · Oct 21

First Horizon's Lena McCloskey Receives NEXT Award by American Banker

PR Newswire · Oct 21

First Horizon: 3 Key Takeaways for Long-Term Investors

Nasdaq · Oct 19

Key stats

Market value$11.0B

P/E (last 12 months)16.8

P/E (next 12 months, estimated)10.0

52-week range$20.40 – $26.56

Revenue growth (latest quarter vs a year ago)-51.7%

Dividend yield2.95%

Analyst consensusBuy (21)

Average analyst price target$27.04 (+15%)

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -2 (DCF counts double).

▼DCF (base case)below the price by 18%

•Forward P/E vs sector10.0x vs median 10.2x

•Piotroski F-score6/9

•Analyst target+15% (21 analysts)

Discounted cash flow

Bear

-68%

growth -10% · disc. 8.4% · term. 2.0%

Base

$19

-18%

growth -5% · disc. 7.4% · term. 2.5%

Bull

$39

+64%

growth -2% · disc. 6.4% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Not meaningful for regional banks: for banks, insurers and lenders, cash moving through loans and deposits swamps "free cash flow". Book value and earnings are better guides.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.63 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Financials

P/E (trailing)

sector median 13.0× · 69th pct

16.8×
pricier

Forward P/E

sector median 10.2× · 46th pct

10.0×
cheaper

EV / EBITDA

sector median 10.9×

–

Price / sales

sector median 2.8× · 54th pct

3.1×
pricier

Price / book

sector median 1.6× · 31st pct

1.2×
cheaper

FCF yield

sector median 8.2% · 60th pct

9.3%
cheaper

Forward EPS $2.33 vs trailing $1.38 (+69% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin

–

Operating margin

–

FCF margin

28.8%

Net margin

30.0%

Return on equity

11.5%

Return on invested capital

–

Net debt / EBITDA

–

Current ratio

–

Interest cover

–

Cash conversion (OCF/NI)

1.0×

Piotroski F-score 6/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✗ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Analysts

Mean target

$27

+15%

Analysts

Buy

Range

$25–$31

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$3.4B	$982.0M	$595.0M
2024	$3.2B	$775.0M	$1.2B
2023	$3.5B	$897.0M	$1.3B
2022	$3.2B	$900.0M	$2.3B
2019	$1.8B	–	–
2018	$1.9B	–	–

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +2.2%.

Earnings

Next report: 2027-01-13 · before open · EPS est 0.54

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-10-14	0.52	0.53	+1.1%
2026-07-15	0.52	0.54	+3.8%
2026-04-15	0.50	0.53	+6.7%
2026-01-15	0.46	0.52	+12.1%
2025-10-15	0.45	0.51	+14.6%
2025-07-16	0.42	0.45	+8.2%
2025-04-16	0.40	0.42	+5.3%
2025-01-16	0.39	0.43	+10.0%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$861.0M	+6.7%
2026-03-31	$837.0M	–
2025-12-31	$863.0M	–
2025-09-30	$865.0M	–
2025-06-30	$807.0M	–

Rating changes

Reiterated

2026-10-19 · Truist Securities reiterated Hold on FHN

Reiterated

2026-10-16 · Raymond James reiterated Outperform on FHN

Reiterated

2026-10-16 · JP Morgan reiterated Neutral on FHN

Reiterated

2026-10-09 · Truist Securities reiterated Hold on FHN

Reiterated

2026-10-01 · Evercore ISI Group reiterated In-Line on FHN

Reiterated

2026-09-30 · Wells Fargo reiterated Equal-Weight on FHN

Third-party analyst actions, not Coteau's views. All rating changes

Recent dividends

2026-09-11: $0.170 · 2026-06-12: $0.170 · 2026-03-13: $0.170 · 2025-12-12: $0.150 · 2025-09-12: $0.150 · 2025-06-13: $0.150 · 2025-03-14: $0.150 · 2024-12-13: $0.150

Insider trades

Ardoin Elizabeth A