First Horizon (FHN)

• Market cap: $10.6B
• 1 day: 3.48%
• 5 days: -1.04%
• 1 month: 0.35%
• 3 months: 24.86%
• 6 months: 36.48%
• Year to date: 37.99%
• 1 year: 45.87%
• 5 years: 18.97%
• 10 years: 47.70%
• Sector: Financials
• Industry: National Commercial Banks

About: First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.

Employees: 7,200

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 8 [Q2] → 10 (+2) [Q3]

11% more first-time investments, than exits

New positions opened: 79 | Existing positions closed: 71

1% more funds holding

Funds holding: 539 [Q2] → 547 (+8) [Q3]

10% more repeat investments, than reductions

Existing positions increased: 201 | Existing positions reduced: 183

8% less call options, than puts

Call options by funds: $24.6M | Put options by funds: $26.6M

2.01% less ownership

Funds ownership: 80.34% [Q2] → 78.33% (-2.01%) [Q3]

6% less capital invested

Capital invested by funds: $6.93B [Q2] → $6.52B (-$404M) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $17 15% downside
• Avg. target: $22 9% upside
• High target: $25 25% upside

11 analyst ratings

• positive: 6 55%
• neutral: 5 45%
• negative: 0 0%

Barclays Jared Shaw 64% 1-year accuracy 47 / 73 met price target	25% upside $25	Overweight Maintained	20 Dec 2024
Keefe, Bruyette & Woods Brady Gailey 91% 1-year accuracy 10 / 11 met price target	20% upside $24	Market Perform Maintained	19 Dec 2024
UBS Nicholas Holowko 13% 1-year accuracy 1 / 8 met price target	25% upside $25	Buy Assumed	17 Dec 2024
RBC Capital Jon Arfstrom 89% 1-year accuracy 47 / 53 met price target	15% upside $23	Outperform Maintained	11 Dec 2024
Wells Fargo Timur Braziler 55% 1-year accuracy 12 / 22 met price target	5% upside $21	Equal-Weight Maintained	3 Dec 2024