DURHAM, N.C., Jan. 29, 2025 /PRNewswire/ -- DPAC (Durham Performing Arts Center) and First Horizon Bank (NYSE: FHN) have announced an exciting new partnership, marking a significant milestone for both organizations. Under this multiyear sponsorship agreement, First Horizon Bank will become the first-ever Presenting Sponsor of DPAC, a theater that has been annually ranked among the top five performing arts centers in the nation for more than a decade. DPAC is celebrated for presenting some of the biggest sho ...

The broader U.S. equity markets witnessed intense volatility over the past couple of trading days, hitting record highs on one hand and plummeting sharply on the other owing to concerns about an AI (artificial intelligence) stock bubble. While President Trump’s advocacy for lower interest rates and lower oil prices buoyed investor sentiments, the stock market was propelled by positive vibes about potential tax cuts and deregulation by the change of regime and signs of resilient economic growth.However, appr ...

MEMPHIS, Tenn., Jan. 28, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today announced the election of Jeffrey J. Brown ("JB"), 52, to the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors. Brown is President of Hendrick Automotive Group, LLC, responsible for the auto operations of the largest privately held automotive group in the United States, headquartered in Charlotte, North Carolina. He retired as Chief Executive Officer of Ally Fina ...

MEMPHIS, Tenn., Jan. 23, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) is proud to celebrate Chairman, President and Chief Executive Officer Bryan Jordan on his inclusion in the Memphis Business Journal's prestigious 2025 Power 100 list. This annual list highlights the most influential leaders shaping the business and economic landscape of Memphis and the Mid-South. "Bryan's recognition is a testament to his unwavering commitment to support our associates and clients and better the communities ...

Shares of First Horizon (NYSE: FHN ) have been a strong performer over the past year, gaining 63%, with the stock performing well since November given the prospect for more favorable regulatory policy. I last covered shares inOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analyst’s D ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: First Horizon National (FHN) - FHN currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market when combined with a Style Score of A or B [4] Performance Metrics - Over the past week, FHN shares increased by 7.48%, outperforming the Zacks Banks - Southwest industry, which rose by 5.2% [6] - In a longer timeframe, FHN shares have risen by 24.05% over the past three months and 50.77% over the past year, compared to the S&P 500's increases of 2.54% and 25.42%, respectively [7] - The average 20-day trading volume for FHN is 3,974,739 shares, indicating a bullish trend when combined with rising stock prices [8] Earnings Outlook - In the last two months, four earnings estimates for FHN have been revised upwards, with no downward revisions, raising the consensus estimate from $1.55 to $1.63 [10] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [10] Conclusion - FHN is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a potential candidate for investors seeking short-term gains [12]

Earnings Performance - Adjusted EPS for Q4 2024 was 43 cents, beating the Zacks Consensus Estimate of 38 cents and up from 32 cents in the year-ago quarter [1] - Full-year 2024 adjusted EPS was $1.55, surpassing the Zacks Consensus Estimate of $1.5 and up from $1.43 in the previous year [2] - Net income available to common shareholders (GAAP basis) was $158 million for Q4 2024, down 9.7% YoY, and $738 million for full-year 2024, down 14.7% YoY [3] Revenue and Expenses - Total quarterly revenues were $729 million, down 8.9% YoY and missing the Zacks Consensus Estimate of $822.47 million [4] - Full-year revenues were $3.19 billion, down 8% YoY and missing the Zacks Consensus Estimate of $3.28 billion [4] - NII increased 2.1% YoY to $630 million, with a net interest margin of 3.33%, up 6 basis points from the prior-year quarter [4] - Non-interest income declined 45.9% YoY to $99 million, primarily due to a $91 million securities loss [5] - Non-interest expenses decreased 11.2% YoY to $508 million, driven by lower incentives, commission fees, and deferred compensation expenses [5] - Efficiency ratio improved to 61.98%, down from 71.14% in the year-ago period, indicating higher profitability [5] Loans, Deposits, and Credit Quality - Total period-end loans and leases were $62.55 billion, up marginally from the previous quarter, while total period-end deposits decreased 1.5% to $65.6 billion [6] - Non-performing loans and leases increased 30.3% YoY to $602 million [7] - The ratio of total allowance for loan and lease losses to loans and leases was 1.3%, up from 1.26% in the prior-year quarter, with the allowance increasing 5.4% YoY to $815 million [7] - Net charge-offs decreased 63.9% YoY to $13 million, and the provision for credit losses plunged 80% YoY to $10 million [8] Capital Position and Share Repurchases - Common Equity Tier 1 ratio was 11.2%, down from 11.4% in the year-ago quarter [10] - Total capital ratio was 13.9%, down from 14% in the prior-year quarter, and the tier 1 leverage ratio was 10.6%, down from 10.7% [10] - The company repurchased $163 million worth of common stock in the reported quarter [11] Industry Updates - Prosperity Bancshares, Inc (PB) is scheduled to release Q4 2024 earnings on Jan 29, with a Zacks Rank 3 (Hold) and a consensus estimate of $1.33 per share [13] - Cullen/Frost Bankers, Inc (CFR) is scheduled to release Q4 2024 earnings on Jan 30, with a Zacks Rank 2 (Buy) and a consensus estimate of $2.15 per share [13][14]

Financial Data and Key Metrics Changes - The company achieved adjusted EPS growth of $0.12 or 8% from the prior year, with an adjusted return on tangible common equity of 12.6% [11][12] - Net interest margin remained strong at 3.35%, despite declining interest rates in the latter half of the year [11] - The net charge-off ratio for the full year was 18 basis points, a decline of 10 basis points from the prior year [12] Business Line Data and Key Metrics Changes - Average loans grew by over 3% and deposits increased by more than 2% [12] - Fee income, excluding deferred compensation, decreased by $5 million from the prior quarter, with fixed income showing improvements [27] - Period-end loans saw a slight increase, driven by loans to mortgage companies and C&I, offset by commercial real estate payoffs [24] Market Data and Key Metrics Changes - The average rate paid on interest-bearing deposits decreased to 3.10%, down from 3.44% in the third quarter [22] - The spot rate at the end of the year was 2.80%, down over 50 basis points from 3.33% at the end of September [23] - The company retained 95% of the $18 billion of promotional deposits and CDs that repriced in the fourth quarter [21] Company Strategy and Development Direction - The company is focused on maintaining a balanced business model to create a resilient earnings stream across economic environments [35] - The guidance for 2025 includes revenue growth flat to up 4%, with adjusted expenses expected to increase between 2% and 4% [36] - The company aims to achieve a 15% return on tangible common equity over the next several years through efficient capital management [41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum entering 2025, highlighting strong credit performance and the ability to attract new clients [39][41] - The company remains committed to deploying capital and prioritizing organic client growth while evaluating share repurchase opportunities [37] - Management noted that the economic outlook remains volatile, impacting loan growth expectations, particularly in commercial real estate [83][84] Other Important Information - The company returned over $930 million of capital to shareholders through dividends and share repurchases while maintaining robust capital levels [12] - The company completed significant technology investments in 2024, including a new general ledger and treasury management system [150][152] Q&A Session Summary Question: Can you discuss the impact of the securities portfolio restructuring on investment priorities? - Management indicated that the restructuring provides confidence in creating positive operating leverage, but no incremental investments are planned beyond the existing three-year $100 million technology investment [47][49] Question: What are the prospects for the mortgage warehouse business? - Management expressed satisfaction with the growth in the mortgage warehouse lending sector, noting a positive outlook for 2025 despite seasonal slowdowns [54][56] Question: Can you provide insights on near-term margin expectations? - Management feels confident about maintaining margins, citing successful deposit cost decreases despite rate cuts [66][71] Question: What are the loan growth assumptions for 2025? - The company anticipates low-single-digit to mid-single-digit loan growth, tempered by expectations in commercial real estate [81][83] Question: How does the company view capital management and potential for lower CET1 ratios? - Management discussed the importance of economic conditions and portfolio performance in determining capital levels, with a focus on maintaining a CET1 ratio around 10.5% [96][98]

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Core Insights - First Horizon National (FHN) reported a revenue of $729 million for the quarter ended December 2024, reflecting an 8.9% decrease year-over-year and a surprise of -11.36% compared to the Zacks Consensus Estimate of $822.47 million [1] - The earnings per share (EPS) for the quarter was $0.43, which is an increase from $0.32 in the same quarter last year, resulting in an EPS surprise of +13.16% against the consensus estimate of $0.38 [1] Financial Performance Metrics - Net Interest Margin (FTE) was reported at 3.3%, matching the average estimate from four analysts [4] - The Efficiency Ratio stood at 62%, slightly above the average estimate of 60% from four analysts [4] - Net charge-offs to average loans were 0.1%, better than the average estimate of 0.3% from three analysts [4] - Average Balance of Total Interest Earning Assets was $75.74 billion, below the average estimate of $76.23 billion from three analysts [4] - Total nonperforming loans and leases amounted to $602 million, compared to the estimated $608.92 million from two analysts [4] - Total Non-Interest Income was $99 million, significantly lower than the average estimate of $195.64 million from four analysts [4] - Net Interest Income was reported at $630 million, slightly above the average estimate of $623.27 million from four analysts [4] - Service charges and fees totaled $53 million, below the average estimate of $58.35 million from two analysts [4] - Other noninterest income was $20 million, slightly above the average estimate of $19.37 million from two analysts [4] - Card and digital banking fees were $19 million, close to the average estimate of $19.68 million from two analysts [4] - Mortgage banking and title income was $8 million, in line with the average estimate of $8.55 million from two analysts [4] Stock Performance - Shares of First Horizon have returned +11.9% over the past month, outperforming the Zacks S&P 500 composite, which saw a -1.6% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]