FIRST HORIZON CORP
In the published model solve dated 2026-Q2, anchored at $25.52, FIRST HORIZON CORP (FHN) is priced for 11.7% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• Almost a quarter of revenue comes from fees rather than lending, and the largest fee line is a fixed-income dealer that the company says ⟦tends to perform better when rates decline or markets are moderately volatile, which tends to partially offset net interest margin compression⟧. • The near-term pressure point is funding: the June quarter's lending margin slipped three basis points because deposit costs rose on increased brokered deposits, the most expensive and least loyal money a bank can
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621 institutional managers reported holding FHN in 13F filings for the quarter ended 2026-03-31. Together they hold about 82% of the company; the top 10 hold 47%. 79 opened new positions that quarter. Held by BlackRock, Vanguard Group, BNY Mellon, among others. On the short side, 16.3M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FHN has cut its share count 12.7% over the past five years, spending $2.09B on repurchases. It pays a dividend, and has for 15 years running; the current rate is $0.60 a share annually. Cash returned over the past three years: $887.00M in dividends and $1.78B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
FHN's latest 8-K filings: 2026-07-15 (items 2.02, 7.01, 9.01); 2026-04-29 (items 5.03, 5.07); 2026-04-15 (items 2.02, 7.01, 9.01); 2026-03-12 (items 3.03, 5.03, 8.01, 9.01); 2026-01-15 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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