First Horizon Corporation (FHN) Stock

First Horizon Corporation (FHN) is a Financials stock trading at $24.67 (as of 2026-08-20), with a market capitalization of $11.69B and a trailing P/E of 11.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Horizon Corporation is a bank holding company for First Horizon Bank that provides financial services through Regional Banking, Specialty Banking, and Corporate segments. It offers banking and related products such as lending, underwriting bank-eligible securities, derivatives and loan sales, advisory services, and trust and fiduciary offerings to consumers, businesses, financial institutions, and governments.

Understand First Horizon Corporation: how it makes money

First Horizon Corporation is a bank holding company that provides consumer and business financial services, including general banking, loan origination and sales (and derivatives), securities underwriting, mortgage-related services, and advisory services, earning money through banking and fee generating activities across its reportable segments.

The company’s operating momentum is tightly linked to deposit attraction and retention (new-to-bank deposit campaign results and retention after repricing), which signal how stable its customer funding relationships are as it runs its broader banking and lending business.

Business quality (Mixed): Segment revenue detail for the three official reportable segments is not provided here, but deposit and retention operating metrics, plus revenue by selected revenue categories, are available.

Valuation: At 12× earnings, FHN trades in line with the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Deposit retention remains high after pricing changes: Deposit repricing retention is 97.0 percent.
Customer relationship stickiness appears strong: Client retention rate is 98.0 percent.
The bank is still adding new-to-bank deposits: New deposits from new-to-bank deposit campaign are 0.25 USD_B.
Some diversification in revenue categories tied to specialty lending: Professional commercial real estate revenues are 0.04 USD_B, and asset-based lending revenues are 0.02 USD_B.

Bear case

Some fee and fixed income related revenue categories show no contribution in the provided data: Fixed income fee revenues are 0.0 USD_B, and average daily revenue fixed income business is 0.0 USD_B.
Mortgage-related revenue is not showing up in the provided revenue category inputs: Mortgage revenue is listed as 0.0 USD_B in the provided segment revenue candidates, even though the business description mentions mortgage banking services.
Limited visibility into performance by the official reportable segments: The three official segments (Regional Banking, Specialty Banking, Corporate) are named, but their segment revenue dollars are not provided here.

Valuation — source: SEC EDGAR (first-party)
Price	$24.67
Market Cap	$11.69B
P/E Ratio	11.0
EV / EBITDA	9.1
Price / Book	1.24
Price / Sales	3.34
FCF Yield	13.5%
DCF Value (model)	$30.17
DCF Upside vs Price	22.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.42B
Net Margin	28.7%
Revenue Growth (YoY)	7.2%
EPS Growth (YoY)	38.0%
FCF Growth (YoY)	-51.4%

Valuation vs Sector & Industry
Stock P/E	11.0
Sector P/E (Financials)	15.1
Industry P/E (Banking)	12.9
vs Sector	-27.2%
vs Industry	-14.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($1.30B)
Institutional Holders Tracked	10
Congressional Trades (recent)	7

Company
Sector	Financials
Industry	Banking
CEO	D. Bryan Jordan
Employees	7,200
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.