First Horizon Corporation (FHN) Stock Price & How to Invest
Short answer
First Horizon (FHN) is a Memphis-based regional bank concentrated across the Sun Belt, so investing in it is a bet on Southeastern loan and deposit growth, steady net interest income, and a modest dividend. You can buy the common shares on the NYSE like any other listed stock.
FHN stock price
As of 2026-07-08, First Horizon Corporation (FHN) last closed at $25.25, up 15.1% over the past year. Over the past 52 weeks it has traded between $19.94 and $26.23.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or First Horizon Corporation's investor relations page. Walnut is informational, not investment advice.
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 $82 billion in assets 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.
The investment picture centers on First Horizon's Sun Belt footprint, its net interest income (the spread between what it earns on loans and pays on deposits), fee businesses like fixed income trading, and credit quality. A high-profile all-cash acquisition by TD Bank at $25 per share was called off in May 2023 over regulatory uncertainty, leaving FHN independent and since focused on organic growth, buybacks, and dividends. Results in early 2026 showed rising profitability, but as a bank the stock remains sensitive to interest rates, the shape of the yield curve, and the regional credit cycle.
What's driving First Horizon Corporation (FHN)?
1. Sun Belt regional growth
First Horizon is concentrated in faster-growing Southeastern and Texas markets, holding number-one or number-two deposit share in several Tennessee and Louisiana markets. Population and business migration into the Sun Belt supports loan and deposit growth relative to slower-growing regions.
2. Net interest income and margin
The bulk of revenue comes from net interest income, about $667 million in the first quarter of 2026. The direction of Federal Reserve rates, deposit costs, and loan repricing drive the net interest margin, which is the single largest lever on the bank's earnings.
3. Profitability and capital returns
Return on tangible common equity reached roughly 15 percent in early 2026, and the company pays a quarterly dividend of about $0.17 per share alongside share buybacks. A payout ratio near 31 percent leaves room to sustain the dividend while returning excess capital.
4. Fee and specialty businesses
Beyond traditional lending, First Horizon runs fixed income sales and trading, wealth management, and mortgage-related operations. These fee streams can diversify revenue but also add volatility, since fixed income results swing with rate conditions and client activity.
What are the risks to First Horizon Corporation (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.
How is First Horizon Corporation (FHN) valued? (approximate, APRIL 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see First Horizon Corporation's investor relations page or your broker.
- Market cap: ~$12.4B
- Revenue (Q1 2026): ~$862M
- Net income to common (Q1 2026): ~$257M
- EPS (Q1 2026): ~$0.53
- P/E (trailing): ~12x
- Dividend yield: ~2.6%
First Horizon reported first-quarter 2026 revenue of about $862 million, up roughly 6 percent year over year, with net income available to common shareholders near $257 million and earnings per share of about $0.53, up 21 percent from a year earlier. The shares trade around 12 times trailing earnings and roughly 1.8 times tangible book value, broadly in line with regional-bank peers.
Who competes with First Horizon Corporation (FHN)?
Super-regional banks
Truist Financial (TFC), Regions Financial (RF), and Fifth Third Bancorp (FITB) compete directly for commercial and consumer banking across the overlapping Southeastern footprint, generally with larger balance sheets than First Horizon.
Southeastern and Texas regionals
Lenders such as Cadence Bank, Pinnacle Financial Partners, and Prosperity Bancshares compete for deposits and commercial lending in the same Sun Belt markets where First Horizon has density.
National and money-center banks
Large institutions like Bank of America, JPMorgan Chase, and Wells Fargo compete for larger corporate relationships and offer broad branch and digital networks that pressure regional players on scale and technology.
How to invest in First Horizon Corporation (FHN)
There are three common ways to get FHN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so FHN sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where FHN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on First Horizon Corporation (FHN)
FHN gives exposure to a profitable, Sun Belt-focused regional bank trading at a middling valuation, with interest rates and credit quality as the main swing factors.
More on First Horizon Corporation (FHN)
Whether FHN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FHN a buy?, and where the stock could go from here in the FHN stock forecast.
For income investors, whether FHN pays a dividend and how the payout looks is covered in does FHN pay a dividend?
Build a basket around FHN with Walnut
Use First Horizon Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does First Horizon Corporation do?
+
First Horizon is the holding company for First Horizon Bank, a regional lender based in Memphis, Tennessee. It provides commercial and consumer banking, private banking, wealth and trust management, brokerage, capital markets, and fixed income services across roughly 12 Southeastern and Texas states.
Is First Horizon a large bank?
+
First Horizon holds roughly $82 billion in assets, making it a sizable regional bank but well below the national money-center banks. As of mid-2026 its market capitalization was about $12.4 billion.
Does FHN pay a dividend?
+
Yes. First Horizon pays a quarterly common dividend of about $0.17 per share, which works out to a yield near 2.6 percent as of early 2026. The payout ratio of roughly 31 percent leaves room for the dividend to be covered by earnings.
How did First Horizon perform in early 2026?
+
In the first quarter of 2026, First Horizon reported revenue of about $862 million and net income available to common shareholders near $257 million, or roughly $0.53 per share, up 21 percent from a year earlier. Return on tangible common equity was around 15 percent.
What happened to the TD Bank acquisition of First Horizon?
+
In February 2022, TD Bank agreed to acquire First Horizon in an all-cash deal valued at about $13.4 billion, or $25.00 per share. TD called off the deal in May 2023, citing uncertainty over regulatory approval, and First Horizon has remained independent since.
Who are First Horizon's main competitors?
+
First Horizon competes with super-regional banks such as Truist Financial, Regions Financial, and Fifth Third Bancorp, along with Sun Belt regionals like Cadence Bank and Pinnacle Financial and national banks including Bank of America and JPMorgan Chase.
What are the main risks of investing in FHN?
+
Key risks include interest rate and net interest margin pressure, credit losses if its Southeastern and Texas markets weaken, deposit competition and funding stability, commercial real estate exposure, and regulatory capital constraints on buybacks. Bank stocks are also cyclical and can move sharply with the broader economy.
How is First Horizon stock valued?
+
As of early 2026, FHN traded at roughly 12 times trailing earnings and about 1.8 times tangible book value, broadly in line with regional-bank peers. Valuation for banks is often judged on price-to-tangible-book and return on tangible equity rather than earnings multiples alone.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with First Horizon Corporation's investor relations page or your broker before making investment decisions.