Core Viewpoint - Adding First Horizon Corporation (FHN) to an investment portfolio is considered a favorable decision due to higher interest rates and a robust loan and deposit balance, positioning the company for growth [1]. Financial Performance - Over the past six months, FHN's shares have increased by 14.4%, contrasting with a 1.7% decline in the industry [2]. - FHN's loans and leases have experienced a compound annual growth rate (CAGR) of 18.7% over the past four years, driven by strategic acquisitions and a diversified loan portfolio [11]. - Deposits have also seen a CAGR of 19.3% during the same period, supported by the company's presence in high-growth markets [11]. - Earnings have grown by 3.74% over the past three to five years, with projections indicating a 4.90% increase in 2024 and a 9.15% rise in 2025 [12]. Balance Sheet Strength - FHN's debt-to-equity ratio stands at 0.13, below the industry average of 0.23, indicating a strong balance sheet [5]. - As of March 31, 2024, the company reported $1.73 billion in debt and $2.63 billion in cash and interest-bearing deposits, showcasing a solid liquidity profile [5]. Capital Distribution - FHN has an attractive capital distribution plan, having authorized a new share repurchase program worth $650 million in January 2024, set to expire on January 31, 2025 [13]. - The company has consistently paid dividends to shareholders over the years, reflecting its commitment to capital distribution [13]. Valuation - FHN's price/earnings (F1) ratio is 10.26 and price/sales ratio is 1.61, compared to the industry's 11.76 and 1.69, respectively, suggesting the stock may be undervalued [14]. - The stock has a Value Score of B, and research indicates that stocks with a Style Score of A or B, combined with a Zacks Rank of 1 or 2, offer the highest upside potential [14]. Analyst Sentiment - The Zacks Consensus Estimate for FHN's 2024 earnings has been revised upward by 4.9% over the past 60 days, indicating positive analyst sentiment regarding its earnings growth potential [9].

This Zacks Rank #1 company has a dividend yield of nearly 2%, compared with the industry average of 0.1%. First Horizon Corporation (FHN) : This bank holding company for First Horizon Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.9% over the last 60 days. This Zacks Rank #1 company has a dividend yield of 3.8%, compared with the industry average of 0.7%. InterContinental Hotels Group PLC (IHG) : This company which owns, manages, franchises, and leases hotels has ...

Investors might want to bet on First Horizon National (FHN) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The pow ...

MEMPHIS, Tenn., May 22, 2024 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") has been recognized as one of America's Best Employers for New Grads 2024! This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list was announced on May 21, 2024, and can be viewed on Forbes.com. America's Best Employers for New Grads are identified in an independent survey from a vast sample of over 100,000 U.S. youn ...

Core Viewpoint - The article emphasizes the importance of value investing and highlights First Horizon (FHN) as a potentially undervalued stock based on various valuation metrics [2][8]. Valuation Metrics - First Horizon (FHN) has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong potential for value investors [4]. - The Forward P/E ratio for FHN is 10.29, significantly lower than the industry average of 12.83, suggesting it may be undervalued [4]. - FHN's P/B ratio stands at 1.02, compared to the industry's average P/B of 1.80, indicating an attractive valuation [5]. - The P/S ratio for FHN is 1.71, which is slightly below the industry's average P/S of 1.74, further supporting its value proposition [6]. - FHN's P/CF ratio is 9.51, well below the industry's average P/CF of 13.92, reinforcing the notion that it is undervalued based on cash flow strength [7]. - Overall, these metrics suggest that FHN is likely undervalued at the moment, making it an impressive value stock [8].

First Horizon Corporation (FHN) Q1 2024 Earnings Call Gary Yeowell The year 2024 represents First Horizon's (NYSE:FHN) 160th year since its inception. The well-known Tennessee-based bank has been through every economic cycle, from the most positive to the most negative. There is certainly no shortage of experience, and it will help in coping with the current macroeconomic environment. | Lower | Market | Higher | 2020 Environment | 2023 Environment | | --- | --- | --- | --- | --- | | Revenue | Factor | Reven ...

MEMPHIS, Tenn., May 21, 2024 /PRNewswire/ -- First Horizon Corporation, (NYSE: FHN or "First Horizon") is pleased to welcome Travis LeMonte as Director of Private Client Services. In this role, LeMonte will lead the Private Client Banking line of business, focusing on the company's strategic growth priorities. "As both a former teammate and competitor, Travis knows the formidable strength of our Private Client team and will play an integral role in expanding our Private Banking and Wealth capabilities throu ...

Earned 19 awards for U.S. Small Business Banking and Middle Market Banking MEMPHIS, Tenn., May 20, 2024 /PRNewswire/ -- First Horizon Corporation, (NYSE: FHN or "First Horizon") has been recognized in the 2023 Greenwich Excellence and Best Brand Awards, earning 19 recognitions in the U.S. Small Business Banking and Middle Market Banking categories. The winners of the prestigious 2023 Greenwich Excellence and Greenwich Best Brand Awards stand out for their ability to combine high quality day-to-day service, ...

Core Viewpoint - First Horizon National's recent earnings report shows mixed results, with adjusted earnings per share beating estimates but declining year over year, raising questions about future performance as the stock has outperformed the S&P 500 recently [1][2]. Financial Performance - Adjusted earnings per share for Q1 2024 were 35 cents, exceeding the Zacks Consensus Estimate by one cent, but down 22.2% from the previous year [2]. - Total revenues decreased by 4.7% year over year to $819 million, although this was above the Zacks Consensus Estimate of $807.9 million [3]. - Net interest income (NII) fell by 9.2% year over year to $625 million, with the net interest margin shrinking by 51 basis points to 3.37% [3]. - Non-interest income increased by 13.5% year over year to $194 million, while non-interest expenses rose by 7.7% to $515 million [3]. Credit Quality - Non-performing loans and leases increased by 19.1% year over year to $505 million, with net charge-offs rising to $40 million from $16 million in the prior year [5]. - The provision for credit losses remained flat at $50 million, and the allowance for loan and lease losses decreased by 10.1% year over year to $787 million [5][6]. Capital Ratios - As of March 31, 2024, the Common Equity Tier 1 (CET1) ratio improved to 11.3% from 10.4% a year ago, while the total capital ratio rose to 13.9% from 13.6% [7]. 2024 Outlook - Adjusted NII is projected to increase by 1-4% from $2.56 billion reported in 2023, and adjusted fee income is expected to rise by 6-10% from $699 million in 2023 [8][9]. - Adjusted expenses are anticipated to grow by 4-6% from $1.88 billion in 2023 due to investments in technology and personnel [9]. - The net charge-off ratio is expected to be between 25-35 basis points, reflecting ongoing macroeconomic uncertainty [9]. - The effective tax rate is forecasted to be between 21-23% [10]. Market Sentiment - Recent estimates for First Horizon have shown an upward trend, indicating positive market sentiment [11]. - The stock currently holds a Zacks Rank of 1 (Strong Buy), suggesting expectations for above-average returns in the coming months [13].

MEMPHIS, Tenn., May 16, 2024 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") today announced it has earned a spot on the Dave Thomas Foundation for Adoption's list of BEST ADOPTION- FRIENDLY WORKPLACES, another recognition of the company as an employer of choice. "First Horizon is committed to providing tools and resources to support our associates as they grow their families," says Tanya Hart, Executive Vice President and Chief Human Resources Officer at First Horizon. "We are honored to ...