BKRIY vs FHN: Which Is the Better Buy in 2026?

Last updated October 2026

Short answer

BKRIY is the larger of the two ($19.67B market cap): the incumbent the market prices for continued execution (11.50x forward earnings, beta 0.43). FHN is the smaller challenger ($10.84B), cheaper on forward earnings (9.82x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.

BKRIY vs FHN: the tie-breaker metrics

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Metric	BKRIY	FHN	What it tells you
Market cap	$19.67B	$10.84B	Size. The larger name is the incumbent; the smaller has more room to grow and more to prove.
Forward P/E	11.50	9.82	Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up.
Trailing P/E	13.20	16.58	Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price.
Beta	0.43	0.63	Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through.
Price vs 52-week range	66% of range	44% of range	Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why.
Price / book	1.34	1.31	How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price.

Reading it: FHN is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

Before you buy: how BKRIY and FHN affect your concentration

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BKRIY and FHN share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BKRIY and FHN exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

What does Bank of Ireland Group (BKRIY) do?

Bank of Ireland Group plc is a Dublin-headquartered bank founded in 1783 and, alongside AIB, one of the two largest lenders in Ireland. It serves more than 4 million customers through retail and everyday banking, mortgages, SME and corporate lending, a UK bank (Bank of Ireland UK, strong in Northern Ireland and in UK mortgages and consumer lending), the Davy wealth and stockbroking business, and the life and pensions insurer New Ireland Assurance. Most of its money comes from net interest income, the gap between what it earns on loans and bonds and what it pays on deposits, which was ~€3.37 billion in 2025. Fee income from wealth, insurance and payments added ~€816 million. The primary listing is on Euronext Dublin (BIRG), with a secondary London line. BKRIY trades over the counter in US dollars and is generally quoted at one ADR per ordinary share, so it tracks the Dublin price times EUR/USD.

Full BKRIY guide

What does First Horizon Corporation (FHN) do?

First Horizon Corporation is the holding company for First Horizon Bank, a regional lender headquartered in Memphis, Tennessee with roughly $84 billion in assets (~$84.3 billion at September 30, 2026) and operations across about 12 states in the Southeast and Texas. The bank offers commercial and private banking, consumer and small-business services, wealth and trust management, retail brokerage, capital markets, and fixed income. It holds leading deposit market share positions in Tennessee and Louisiana, with additional density in Florida, the Carolinas, Virginia, Atlanta, and the Dallas and Houston markets.

Full FHN guide

BKRIY vs FHN: how do they differ?

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

BKRIY drivers: Structural hedge and net interest income; Irish lending and deposit growth.
FHN drivers: Sun Belt regional growth; Net interest income and margin.

Which fits which kind of investor

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Interest rates are the first sensitivity. For FHN, as a regional bank, First Horizon carries interest rate risk, since a falling or inverted yield curve can compress margins.

BKRIY or FHN: which should you pick?

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BKRIY if you believe its drivers more; FHN if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BKRIY and FHN guides.

BKRIY vs FHN: the full fundamentals

BKRIY. The gap between the trailing and forward multiples reflects 2025 profit depressed by the €264 million UK motor finance provision and €153 million of restructuring costs, followed by a 2026 recovery in which management expects EPS growth above 35% from 115 cents. The price-to-book of ~1.35x sits alongside a statutory return on tangible equity that is guided above 14% this year and above 16% by 2028. Bank of Ireland reports in euro, so BKRIY's dollar figures move with EUR/USD as well as the Dublin share price. All figures are approximate, drawn from company results and quote pages.

FHN. The trailing P/E of ~16.8x is inflated by the Q3 2026 mortgage-sale charge; on 2027 estimates of ~$2.33 per share the shares trade near 10x, and at about 1.3x book. That is cheaper than the ~12x trailing multiple the stock carried in spring 2026, after a ~9% decline over the last three months. The 21 analysts covering FHN rate it a buy on average with a mean target near $27, and the next quarterly report is expected around January 13, 2027.

Headline figures (approximate, October 2026): BKRIY shows profit before tax ~€1.39B FY2025; €960M H1 2026 (up 33%), net interest income ~€3.37B FY2025; ~€3.5B guided FY2026, return on tangible equity 14.4% H1 2026; >14% guided FY2026, market cap ~$20B (ADR ~$21); FHN shows market cap ~$10.95B (share price ~$23.12), revenue (ttm) ~$3.5B (Q3 2026 ~$883M), net income (ttm) ~$1.03B, adjusted eps (q3 2026) ~$0.53 vs ~$0.52 expected.

The bottom line: BKRIY vs FHN

BKRIY and FHN are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BKRIY and FHN exposure against your real portfolio. It is not an investment adviser.

Wondering how BKRIY or FHN fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.

Investing in Bank of Ireland Group with AI

Connect the broker you already use and ask Walnut's AI how BKRIY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.

Does BKRIY fit me?

FAQ

What is the difference between BKRIY and FHN?

Bank of Ireland Group plc is a Dublin-headquartered bank founded in 1783 and, alongside AIB, one of the two largest lenders in Ireland. First Horizon Corporation is the holding company for First Horizon Bank, a regional lender headquartered in Memphis, Tennessee with roughly $84 billion in assets (~$84.3 billion at September 30, 2026) and operations across about 12 states in the Southeast and Texas. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.

Is BKRIY or FHN the better stock?

Neither is universally better. BKRIY is the larger incumbent; FHN is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.

Which is cheaper, BKRIY or FHN?

On forward P/E (as of October 2026), BKRIY trades at 11.50x and FHN at 9.82x, so FHN is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.

Should you own both BKRIY and FHN?

Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.

What are the risks of BKRIY vs FHN?

BKRIY: Interest rates are the first sensitivity. Guidance assumes an average ECB deposit rate of ~2.2% in 2026 and 2.5% in 2027 and 2028, so deeper cuts would cut into net interest income even with the hedge. UK motor finance redress has already cost the group €264 million in 2025 provisions, and Bank of Ireland UK lifted its total provision to ~£375 million after the FCA's final rules in March 2026. Implementing the scheme could bring further costs or operational strain. The loan book is concentrated in Ireland, whose economy leans heavily on US multinationals, so US tariffs, changes to corporate tax rules or a property slowdown would feed through to credit losses, which ran at just 8 basis points in the first half and are unlikely to stay that low. The bank is also running down US leveraged finance and GB corporate portfolios, which drags on loan growth. Irish banks face political scrutiny over mortgage pricing, pay caps, levies (€102 million in the first half) and legacy issues. For US holders, the ADR adds euro currency risk, thin OTC liquidity, depositary fees and possible Irish dividend withholding tax. FHN: As a regional bank, First Horizon carries interest rate risk, since a falling or inverted yield curve can compress margins. Credit risk is meaningful because a downturn in its Southeastern and Texas markets, including commercial real estate exposure, could raise charge-offs from the low levels seen recently. Deposit competition and the possibility of funding outflows remain a concern after the 2023 regional-banking stress. The stock also lost the premium tied to the TD takeover when that deal collapsed, and regulatory capital requirements could limit buybacks. The mortgage sale adds execution risk of its own: it is not settled until early in Q4 2026, and the promised accretion depends on redeploying the proceeds into loans at better yields without loosening credit standards. Because the loss on the sale runs through GAAP earnings, trailing GAAP EPS (~$1.38) now understates the bank's ongoing earnings power, and screens that rely on the trailing P/E will show the stock as more expensive than adjusted figures imply.

Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell BKRIY or FHN; figures are approximate and dated (as of October 2026). Verify current data before investing.