STOCK TITAN

First Horizon Corporation - FHN STOCK NEWS

Welcome to our dedicated page for First Horizon Corporation news (Ticker: FHN), a resource for investors and traders seeking the latest updates and insights on First Horizon Corporation stock.

First Horizon Corporation (NYSE: FHN) is a leading regional financial services company based in Memphis, Tennessee. With a history dating back to 1864, the company has carved out a significant presence in the banking sector, evolving alongside the needs of its customers and communities.

First Horizon Corp. is the parent company of First Tennessee Bank, a prominent regional bank with approximately 200 branches primarily concentrated in Tennessee. The bank contributes around 65% of the company's revenue, with capital markets activities adding another 25%. The company's remaining income is generated from non-strategic and corporate operations.

The core of First Horizon's business lies in offering a variety of banking products, including commercial and private banking, consumer banking, small business services, wealth and trust management, and mortgage banking. The company also engages in retail brokerage and capital markets activities, providing clients with access to fixed income products and a variety of financial services.

Recent accomplishments highlight the company's robust financial health and its strategic direction. As of June 30, 2023, First Horizon reported $85.1 billion in assets. In September 2023, the company announced the results of its 2023 Bank Holding Company-run capital stress test, which demonstrated its capacity to maintain strong capital ratios well above regulatory minimums even under adverse economic conditions. Furthermore, First Horizon reported a net income of $129 million for the third quarter of 2023, showcasing its resilience and disciplined approach to credit quality and financial management.

First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and ranks as a Top 10 Most Reputable U.S. Bank. The company operates its banking subsidiary across 12 states in the southern United States, providing a wide array of services to help clients unlock their full potential with capital and counsel.

For more details, the latest news, and ongoing updates, visit FirstHorizon.com.

Rhea-AI Summary

First Horizon Corporation (NYSE: FHN) announced shareholder approval for The Toronto-Dominion Bank (TD) to acquire it, with the transaction expected to close in Q1 of TD's 2023 fiscal year, pending regulatory approvals. The CEO, Bryan Jordan, emphasized the deal's strategic benefits and the value it brings to stakeholders. The press release includes cautionary notes about forward-looking statements related to potential risks that could affect the transaction's completion, including regulatory hurdles and market conditions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.05%
Tags
none
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.42%
Tags
none
-
Rhea-AI Summary

First Horizon Corporation (NYSE: FHN) has announced a quarterly common stock dividend of $0.15 per share, payable on July 1, 2022, to shareholders of record by June 10, 2022. The company also declared cash dividends for its preferred stock series, including Series B with $331.25 per share, Series C at $165.00, Series E at $1,625.00, and Series F at $1,175.00 per share. Additionally, a $9.47917 quarterly dividend for First Horizon Bank's Class A Preferred Stock is also set for July 11, 2022, with a record date of June 24, 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.35%
Tags
dividends
Rhea-AI Summary

First Horizon Corp. (NYSE: FHN) announced the winners of its Back to Business Contest, awarding $1 million in cash prizes to 48 small businesses across 16 regions, including Alabama, Arkansas, Florida, Georgia, Louisiana, and Texas. The contest, aimed at supporting resilient businesses, received 2,300 entries and recognized winners based on public voting. Prizes ranged from $30,000 for first place to $5,000 for sweepstakes winners. The company emphasizes its commitment to fostering local communities through financial support.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.69%
Tags
none
-
Rhea-AI Summary

First Horizon Corporation (NYSE: FHN) reported a first quarter 2022 net income of $187 million, or $0.34 per share, down from $219 million and $0.40 per share in the previous quarter. Adjusted net income fell to $211 million or $0.38 per share, compared to $260 million or $0.48 per share in Q4 2021. The decline was attributed to lower provision credit. The company also reported a ROTCE of 13.0% and an adjusted ROTCE of 14.7%, with a tangible book value per share of $10.46.

CEO Bryan Jordan noted successes in loan growth and integration efforts, while expressing concern over global uncertainties.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.69%
Tags
none
-
Rhea-AI Summary

First Horizon Corporation (NYSE: FHN) announced a revised date for releasing its first-quarter financial results, now set for April 19, 2022, after market close. This change comes amid a proposed transaction with TD Bank Group. Importantly, FHN management will not conduct conference calls related to the earnings materials. As of December 31, 2021, the company held $89.1 billion in assets and operates in 12 states, offering various banking and financial services. Earnings materials will be accessible on their website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
Tags
none
Rhea-AI Summary

TD Bank Group has signed a definitive agreement to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion, or US$25.00 per common share. This acquisition aims to enhance TD's presence in the Southeastern U.S., offering immediate scale and growth opportunities. Upon completion, First Horizon CEO Bryan Jordan will join TD as Vice Chair. The deal is expected to be immediately accretive to TD's adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. The transaction is anticipated to close in Q1 of TD’s 2023 fiscal year.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
28.66%
Tags
-
Rhea-AI Summary

TD Bank Group has announced an all-cash deal to acquire First Horizon for US$13.4 billion, or US$25.00 per common share. This acquisition positions TD as a top 6 U.S. bank with approximately US$614 billion in assets and a network of 1,560 branches across 22 states. The transaction is expected to be immediately accretive to adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. TD aims to expand First Horizon's community investments and retain all client-facing bankers. The deal is subject to regulatory approvals and expected to close in Q1 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
28.66%
Tags
-
Rhea-AI Summary

The Preiss Company has begun developing Signature Music Row, a 105-unit multifamily housing project in Nashville, Tennessee, marking its first entry into the Nashville market. This project is in partnership with Speedwagon Capital Partners and includes additional loan contributions from First Horizon, with JLL Capital Markets facilitating the debt arrangements. The development features various residential units and is strategically located near Vanderbilt University, amidst a thriving local economy bolstered by job growth from major companies like Amazon and Oracle.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.99%
Tags
none
Rhea-AI Summary

First Horizon Corp. (NYSE: FHN) announced a $1 million cash prize giveaway to support local businesses through the Back to Business contest. This initiative highlights the importance of resilient businesses in the company's regional footprint. Entries are accepted until February 15, 2022, with 1st, 2nd, and 3rd place prizes awarded across 16 communities. To enter, businesses must describe in 100 words how they would use the funds. First Horizon, with $89.1 billion in assets as of December 31, 2021, operates in 12 states.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.04%
Tags
none

FAQ

What is the current stock price of First Horizon Corporation (FHN)?

The current stock price of First Horizon Corporation (FHN) is $20.16 as of December 23, 2024.

What is the market cap of First Horizon Corporation (FHN)?

The market cap of First Horizon Corporation (FHN) is approximately 10.5B.

What does First Horizon Corporation do?

First Horizon Corporation is a regional financial services company offering commercial, private, consumer banking, small business services, wealth and trust management, retail brokerage, capital markets, and mortgage banking services.

Where is First Horizon Corporation headquartered?

First Horizon Corporation is headquartered in Memphis, Tennessee.

How many branches does First Tennessee Bank have?

First Tennessee Bank, a subsidiary of First Horizon Corp, has around 200 branches primarily in Tennessee.

What are the recent financial results of First Horizon Corporation?

For the third quarter of 2023, First Horizon reported a net income of $129 million, demonstrating strong performance and resilience.

What is the significance of First Horizon's 2023 stress test results?

The 2023 stress test results showed First Horizon's ability to maintain capital ratios well above regulatory minimums, reflecting strong risk management and financial health.

In which states does First Horizon Bank operate?

First Horizon Bank operates in 12 states across the southern United States.

Has First Horizon Corporation received any notable recognition?

Yes, First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and ranks as a Top 10 Most Reputable U.S. Bank.

What is the primary source of revenue for First Horizon Corporation?

The primary source of revenue for First Horizon Corporation is First Tennessee Bank, contributing approximately 65% of the company's revenue.

How can I access First Horizon Corporation's financial reports?

Financial reports and other investor-related information can be accessed on First Horizon Corporation's investor relations website at ir.firsthorizon.com.

What is the mission of First Horizon Corporation?

First Horizon's mission is to provide the best service to its customers, maintain financial integrity, and help customers manage their money effectively.

First Horizon Corporation

NYSE:FHN

FHN Rankings

FHN Stock Data

10.48B
524.56M
0.87%
82.72%
1.92%
Banks - Regional
National Commercial Banks
Link
United States of America
MEMPHIS