Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sital Mody was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • May 06
First Horizon Bank Appoints James Gifas as Senior Vice President, Deputy Head of Treasury Management First Horizon Bank announced on May 4, 2026, that James Gifas has joined the organization as Senior Vice President, Deputy Head of Treasury Management. Gifas, a banking veteran with more than 30 years of industry experience, will be based out of First Horizon's Charlotte, NC office. His most recent role was with First National Bank Corporation as its Head of Treasury Management, Merchant and Card Solutions. He previously held Treasury Management leadership positions at CIT Group (now First Citizens Bank), M&T Bank, Citizens Bank and Citibank. Aankondiging • Apr 29
First Horizon Corporation Declares Quarterly Cash Dividends on Common Stock, Payable on July 1, 2026 First Horizon Corporation announced that its board of directors declared a quarterly cash dividend of $0.17 per share on FHN's common stock. The dividend is payable on July 1, 2026, to shareholders of record at the close of business on June 12, 2026. Aankondiging • Apr 14
First Horizon Bank Appoints Rite Moisio as Director of Private Client Banking for the New Orleans Market First Horizon Bank announced that Rite Moisio has joined the First Horizon team as Director of Private Client Banking for the New Orleans market. She brings extensive experience in private banking and wealth management, with a strong focus on serving high-net-worth individuals and families. Prior to joining First Horizon, Moisio began her career in New Orleans serving as Vice President and Private Banker at JP Morgan Chase. In 2013, she transitioned to Hancock Whitney, where she held leadership roles within the Private Bank, most recently serving as Senior Vice President and Team Lead of the New Orleans Wealth Management group. Over the course of her career, she has developed deep client relationships across the Gulf South. In addition to her professional experience, Moisio is actively involved in the New Orleans community and has supported several nonprofit organizations focused on youth development, education and community well-being. Aankondiging • Mar 26
First Horizon Corporation to Report Q1, 2026 Results on Apr 15, 2026 First Horizon Corporation announced that they will report Q1, 2026 results at 6:30 AM, US Eastern Standard Time on Apr 15, 2026 Aankondiging • Mar 17
First Horizon Corporation, Annual General Meeting, Apr 28, 2026 First Horizon Corporation, Annual General Meeting, Apr 28, 2026. Location: 165 madison avenue, tennessee 38103, memphis United States Aankondiging • Feb 11
First Horizon Corporation Appoints Leilani Farol as Chief Information Security Officer First Horizon Corporation announced the appointment of Leilani Farol as Senior Vice President, Chief Information Security Officer (CISO) on February 11, 2026. In the CISO role, Farol will lead enterprise cybersecurity strategy and execution. Farol brings more than 25 years of leadership in information security, risk management and technology. Throughout her distinguished career in financial services and a variety of industries in the U.S. and internationally, Farol has directed complex programs in technology strategy, program and project management, business development, application development and large-scale system implementations. Farol most recently served as Head of Governance, Risk and Compliance for Fidelity Investments where she led the execution of a multi-year enterprise-wide cyber strategy. Prior to that, she was Senior Vice President, Cyber Security – Global Information Security for Bank of America and held several leadership roles for JPMorgan Chase & Co. that included Executive Director, Global Technology; Vice President of Cybersecurity Programs and Vice President, Global Technology Infrastructure. Aankondiging • Jan 28
First Horizon Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on April 1, 2026 First Horizon Corporation announced that its board of directors declared a quarterly cash dividend of $0.17 per share on company's common stock. The dividend is payable on April 1, 2026, to shareholders of record at the close of business on March 13, 2026. Aankondiging • Jan 07
First Horizon Corporation Announces Leadership Promotions in Louisiana, Texas and Georgia First Horizon Corporation announced several leadership promotions that underscore the company's commitment to serving clients through local expertise. Tony Adams, New Orleans Market President, has been named Gulf States Regional President, responsible for driving strategic client opportunities across the state of Louisiana. Since joining the company in 2001, Adams has played a significant role in developing long-term client relationships. Over the last five years, he has successfully expanded the depth of talent in the market and grown First Horizon's client base under his leadership. Private Client Group Leader Jimmy Dunn has been promoted to New Orleans Market President. Dunn joined the company in 2014 and has driven strong results through a dynamic team that delivers outstanding outcomes for clients. Manager of First Horizon's Texas Commercial Real Estate Group, Matt Phillips will serve as Regional President of the company's West Region, which includes the state of Texas. With more than 11 years of experience serving First Horizon commercial clients in Texas, Phillips has a deep understanding of the local business landscape and is well positioned to guide client growth in the Dallas, Fort Worth and Houston markets. Alex Morton, Birmingham Market President, is assuming the role of Atlanta Market President. Over the past eight years, Morton has made significant contributions to Birmingham's growth and performance as market leader. Aankondiging • Dec 13
First Horizon Corporation to Report Q4, 2025 Results on Jan 15, 2026 First Horizon Corporation announced that they will report Q4, 2025 results on Jan 15, 2026 Aankondiging • Nov 06
First Horizon Corporation Announces Executive Changes First Horizon Corp. plans to appoint new market leadership in Charlotte following the exit of longtime banking executive John Forgan, the bank has confirmed. Forgan, a veteran banker with more than 30 years of experience, joined First Horizon in May 2021. He previously held leadership positions at Pinnacle Financial Partners, PNC Financial Services Group Inc. and Wells Fargo & Co. predecessor Wachovia Corp. During his tenure at First Horizon, he led the company's commercial and business banking teams across loans, deposits and treasury management services. At the time of his appointment, Forgan said Charlotte represented a major growth opportunity for First Horizon and emphasized plans to expand through new hires and relationship-building with local companies. Bunn previously told CBJ that Charlotte is a cornerstone of First Horizon's regional strategy, pointing to the city's deep financial talent pool and strong business climate. Aankondiging • Oct 30
First Horizon Corporation Appoints Kimberley Wolterstorff Gregorie as Senior Vice President, Head of Consumer Sales First Horizon Corporation announced that Kimberley Wolterstorff Gregorie has joined the organization as Senior Vice President, Head of Consumer Sales. Gregorie will lead the consumer sales strategy, driving growth and ensuring an exceptional experience for First Horizon's clients across its retail channels. Gregorie is an experienced leader adept at connecting business strategy, operations and people to create organizations with purpose. She's known for turning complexity into clarity, leading teams through expansion, modernization and cultural evolution with a focus on results. With more than 20 years in financial services, Gregorie previously served in a variety of consumer banking and transformational leadership roles at JPMorganChase. Her background also includes national advisory roles supporting economic development and mobility initiatives in communities across the U.S. Aankondiging • Oct 16
First Horizon Corporation Maintains Revenue Guidance for the Full Year 2025 First Horizon Corporation maintained revenue guidance for the full year 2025. The company maintained the revenue outlook of flat to up 4%. Aankondiging • Oct 15
First Horizon Corporation Reports Net Charge-Offs for the Third Quarter September 30, 2025 First Horizon Corporation reported net charge-offs for the third quarter September 30, 2025. For the quarter, the company reported total net charge-offs of $26 million compared to $24 million a year ago. Aankondiging • Sep 18
First Horizon Corporation to Report Q3, 2025 Results on Oct 15, 2025 First Horizon Corporation announced that they will report Q3, 2025 results at 6:30 AM, Eastern Standard Time on Oct 15, 2025 Aankondiging • Aug 21
First Horizon Corporation and First Horizon Bank Appoint Michael Moehn to Its Board of Directors First Horizon Corporation announced the election of Michael Moehn, 56, Senior Executive Vice President and Chief Financial Officer of Ameren Corporation and President and Chairman of Ameren Services Company, to the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors. Moehn brings over two decades of executive experience in finance, operations, risk management and strategic leadership within the energy and utility sectors. As CFO of Ameren, a Fortune 500 utility holding company headquartered in St. Louis, Missouri, he leads the company's strategic planning initiatives and is responsible for all aspects of its financial affairs, including investor relations, financial reporting, accounting, tax, treasury, internal audit and capital market activities. He also oversees strategy, mergers and acquisitions, enterprise risk management, supply chain and digital and customer experience. Prior to joining Ameren in 2000, Moehn built a solid foundation in finance, audit and accounting as part of PricewaterhouseCoopers, LLP. Since then, he has held numerous leadership roles at Ameren, including President of Ameren Missouri, responsible for Missouri's largest energy provider serving more than 1.2 million electric and natural gas customers across central and eastern Missouri and the greater St. Louis area. Moehn holds a bachelor's degree in accounting from Saint Louis University, a master's degree in business administration from Washington University in St. Louis and a certificate in Nuclear Reactor Technology from the Massachusetts Institute of Technology.He is dedicated to the needs of his community, having served and supported a number of civic organizations including as past chairman of the Urban League of Metropolitan St. Louis and the United Way of Greater St. Louis. Aankondiging • Aug 16
First Horizon Corporation Appoints Shaun Mcdougall as Head of Consumer Banking First Horizon Corporation announced that Shaun McDougall has joined the organization as Head of Consumer Banking. In this newly created executive role, McDougall will lead the strategic development and execution of a comprehensive client experience for First Horizon's Consumer segment, supporting the continued growth and evolution of the bank.McDougall will lead Retail Banking, Digital Banking and Small Business Banking teams. This structure underscores First Horizon's commitment to delivering an integrated experience for consumer clients through all channels and touchpoints.McDougall brings more than two decades of experience in financial services, most recently serving at Wells Fargo where he focused on branch banking growth and customer experience strategy. Prior to Wells Fargo, McDougall held senior roles leading wealth management, small business banking, and corporate partnerships at HSBC, and additionally served in retail leadership roles at Citizens Financial and JPMorgan Chase. In his new capacity, McDougall will drive the development of client-focused strategies, working closely with leaders across the organization to ensure First Horizon delivers simple, valuable and seamless solutions for consumer clients at every stage of their financial journey. Aankondiging • Aug 15
First Horizon Announces Charlotte Hub Relocation to the Queen City's South End First Horizon Corporation announced its new location in Charlotte's vibrant South End. In the first half of 2026, First Horizon will relocate to the city's East Boulevard corridor at 110 East, consolidating two of its current office spaces. As the anchor tenant of this prominent South End building, First Horizon will relocate two current office locations to occupy the top three floors of the 24-story building. This modern and collaborative office design features 250 workspaces, and the building offers a wide array of amenities that include onsite deck parking, light rail access and a fitness center in addition to meeting and event space in the building's expansive 11th floor Sky Lobby. Aankondiging • Jul 30
First Horizon Corporation Declares Quarterly Cash Dividend, Payable on October 1, 2025 First Horizon Corporation announced that its board of directors declared a quarterly cash dividend of $0.15 per share on FHN's common stock. The dividend is payable on October 1, 2025, to shareholders of record at the close of business on September 12, 2025. Aankondiging • Jun 19
First Horizon Corporation to Report Q2, 2025 Results on Jul 16, 2025 First Horizon Corporation announced that they will report Q2, 2025 results at 6:30 AM, US Eastern Standard Time on Jul 16, 2025 Aankondiging • Apr 30
First Horizon Corporation Declares Quarterly Cash Dividend, Payable on July 1, 2025 First Horizon Corporation announced that its board of directors declared a quarterly cash dividend of $0.15 per share on FHN's common stock. The dividend is payable on July 1, 2025, to shareholders of record at the close of business on June 13, 2025. Aankondiging • Mar 13
First Horizon Corporation to Report Q1, 2025 Results on Apr 16, 2025 First Horizon Corporation announced that they will report Q1, 2025 results at 6:30 AM, US Eastern Standard Time on Apr 16, 2025 Aankondiging • Feb 14
First Horizon Corporation and First Horizon Bank Announces Retirement of Rosa Sugrañes as Director First Horizon Corporation announced the retirement of Rosa Sugrañes, 67, from the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors, effective at the end of her current term. Sugrañes became a director of First Horizon in 2020 upon the closing of the merger of equals with IBERIABANK Corporation, having served as a director of IBERIABANK Corporation since 2017. Prior to that time, she served as a director of Sabadell United Bank in Miami, Florida, from 2006 to 2017. Sugrañes was the founder and Chief Executive Officer of Iberia Tiles, a ceramic tile distributor headquartered in Miami, from 1980 until 2012 when the company was sold. Aankondiging • Jan 29
First Horizon Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on April 1, 2025 First Horizon Corporation announced that its board of directors declared a quarterly cash dividend of $0.15 per share on company's common stock. The dividend is payable on April 1, 2025, to shareholders of record at the close of business on March 14, 2025. Aankondiging • Jan 28
First Horizon Corporation and First Horizon Bank Announce Election of Jeffrey J. Brown as Board of Directors First Horizon Corporation announced the election of Jeffrey J. Brown (JB), 52, to the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors. Brown is President of Hendrick Automotive Group, LLC. He retired as Chief Executive Officer of Ally Financial Inc. in January 2024, after serving as Chief Executive Officer and a member of the board of directors for nine years. Since joining Ally in 2009, Brown held numerous leadership positions, including President and CEO of Dealer Financial Services, Executive Vice President of Finance and Corporate Planning and Corporate Treasurer. Prior to joining Ally (then GMAC), he served as Corporate Treasurer for Bank of America. Brown received a bachelor's degree from Clemson University and an executive MBA from Queens University in Charlotte. He serves on the board of the Clemson University Foundation and, in June 2024, completed his service as the Board of Trustees chair of Queens University. He is a member of the Charlotte Executive Leadership Council and Executive Leadership Group of North Carolina. He currently serves on the Charlotte Sports Board and is a member of the executive committee. For four years, Brown also served as a member of the Federal Advisory Council, including his role as President in 2021. Aankondiging • Dec 20
First Horizon Corporation to Report Q4, 2024 Results on Jan 16, 2025 First Horizon Corporation announced that they will report Q4, 2024 results at 6:30 AM, US Eastern Standard Time on Jan 16, 2025 Aankondiging • Nov 28
First Horizon Corporation Announces Executive Changes First Horizon Corporation announced the naming of Tyler Craft as Head of Investor Relations, effective January 1, 2025. Craft will succeed Natalie Flanders as Head of Investor Relations, reporting to Chief Financial Officer Hope Dmuchowski. In this role, he will manage relationships with investors and articulate First Horizon's financial vision and strategy. Currently serving as Director of Transformation - Fintech and Emerging Technology, Craft has been instrumental in advancing the company's fintech initiatives, leading ventures in robotic process automation, artificial intelligence and fraud prevention enhancements. Throughout his 14-year tenure with the organization, he has held numerous positions, played a lead role in the company's 2023 Investor Day and has made key contributions to major integrations. Prior to First Horizon, he was the Director of Product at Capital Bank, leading finance-related functions and overseeing the bank's ALLL and loan valuation modeling, in addition to his involvement in multiple mergers. Flanders will join the Risk Organization as Director of Credit & Financial Risk. Recent Insider Transactions • Nov 11
Insider recently sold €1.9m worth of stock On the 7th of November, David Popwell sold around 101k shares on-market at roughly €18.33 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €18.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €32.14 per share. Declared Dividend • Nov 04
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 13th December 2024 Payment date: 2nd January 2025 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be well covered in 3 years' time (36% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Oct 23
First Horizon Corp Announces Executive Changes First Horizon Corp. announced it is appointing Lang Wiseman - former deputy governor and chief counsel to Governor Bill Lee - to the company's leadership team. Wiseman is set to become First Horizon's deputy general counsel on Nov. 1 and transition into the general counsel role on Jan. 1, 2025, according to a news release. He is taking over from Charlie Tuggle, who will retire in 2025 after 16 years in the role and 21 years with the company in total. Wiseman comes to First Horizon after most recently being at Memphis law firm Baker Donelson, which he rejoined as a shareholder in the firm's advocacy department in January 2022. At Baker Donelson, Wiseman's wide-ranging client portfolio included financial services, manufacturing, health care, transportation, automotive, energy, real estate, educational institutions, and local governments. This was Wiseman's second stint at Baker Donelson. After he began his career at Baker Donelson, Wiseman launched his own firm, Wiseman Bray PLLC, where he would work for nearly two decades. Wiseman later became deputy governor and chief counsel under Lee from 2019 to 2021. He's also clerked for Harry Wellford of the U.S. Court of Appeals for the Sixth Circuit and then moved to Washington, D.C., to work for U.S. Senator Fred Thompson. Reported Earnings • Oct 16
Third quarter 2024 earnings released: EPS: US$0.40 (vs US$0.23 in 3Q 2023) Third quarter 2024 results: EPS: US$0.40 (up from US$0.23 in 3Q 2023). Revenue: US$793.0m (up 19% from 3Q 2023). Net income: US$213.0m (up 65% from 3Q 2023). Profit margin: 27% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Aankondiging • Sep 13
First Horizon Corporation to Report Q3, 2024 Results on Oct 16, 2024 First Horizon Corporation announced that they will report Q3, 2024 results at 6:45 AM, US Eastern Standard Time on Oct 16, 2024 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 01 October 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.5%). Declared Dividend • Jul 29
Second quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 13th September 2024 Payment date: 1st October 2024 Dividend yield will be 3.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (49% payout ratio) and is expected to be well covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jul 24
First Horizon Corporation Declares Quarterly Cash Dividend, Payable on October 1, 2024 First Horizon Corporation announced that its board of directors had declared a quarterly cash dividend of $0.15 per share on FHN's common stock. The dividend is payable on October 1, 2024 to shareholders of record at the close of business on September 13, 2024. Reported Earnings • Jul 18
Second quarter 2024 earnings released: EPS: US$0.34 (vs US$0.59 in 2Q 2023) Second quarter 2024 results: EPS: US$0.34 (down from US$0.59 in 2Q 2023). Revenue: US$760.0m (flat on 2Q 2023). Net income: US$184.0m (down 42% from 2Q 2023). Profit margin: 24% (down from 42% in 2Q 2023). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Aankondiging • Jun 15
First Horizon Corporation to Report Q2, 2024 Results on Jul 17, 2024 First Horizon Corporation announced that they will report Q2, 2024 results at 6:45 AM, US Eastern Standard Time on Jul 17, 2024 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.4%). Reported Earnings • May 06
First quarter 2024 earnings released: EPS: US$0.33 (vs US$0.45 in 1Q 2023) First quarter 2024 results: EPS: US$0.33 (down from US$0.45 in 1Q 2023). Revenue: US$769.0m (down 4.9% from 1Q 2023). Net income: US$184.0m (down 24% from 1Q 2023). Profit margin: 24% (down from 30% in 1Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. Declared Dividend • Apr 29
First quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 14th June 2024 Payment date: 1st July 2024 Dividend yield will be 4.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (41% payout ratio) and is expected to be well covered in 3 years' time (36% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 24
First Horizon Corporation Declares Cash Dividends on Common Stock, Payable on July 1, 2024 First Horizon Corporation announced that its board of directors has declared a quarterly common stock dividend of $0.15 per share. The dividend is payable on July 1, 2024 to shareholders of record at the close of business on June 14, 2024. Reported Earnings • Apr 17
First quarter 2024 earnings released: EPS: US$0.33 (vs US$0.45 in 1Q 2023) First quarter 2024 results: EPS: US$0.33 (down from US$0.45 in 1Q 2023). Revenue: US$770.0m (down 4.8% from 1Q 2023). Net income: US$184.0m (down 24% from 1Q 2023). Profit margin: 24% (down from 30% in 1Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 16
First Horizon Corporation Announces Executive Changes First Horizon Corporation announced that Thomas Hung, Executive Vice President, Head of Franchise Finance, will be named Senior Executive Vice President, Chief Credit Officer, effective October 1, 2024. Hung will succeed Susan Springfield, Senior Executive Vice President, Chief Credit Officer, who has served in this role since 2013. Starting April 15, 2024, Hung will serve as Deputy Chief Credit Officer to begin the succession planning process and join the Executive Management Committee. Springfield will remain with the company until the end of the year to support the transition. Hung will report directly to Chairman, President and CEO Bryan Jordan and reside in Memphis, Tennessee. Hung joined the company in 2019 and has over two decades of experience in the financial services industry. He previously served as Managing Director and Head of Sponsor and Chain Restaurants for Citizens Bank, where he built out a national chain restaurant lending platform for financing and syndicating sponsor-backed restaurant loans. Before that, Hung was with GE Capital Franchise Finance in various capacities across sales, capital markets, underwriting, and portfolio management, culminating his tenure as Senior Vice President and Head of Club Syndications. Other experience includes working as an investment banker with JPMorgan and Deutsche Bank, specializing in mergers and acquisitions, as well as equity private placements. Hung holds a BS in Finance from Brigham Young University and an MBA from the Johnson Graduate School of Management at Cornell University. He is originally from Sydney, Australia. Aankondiging • Mar 28
First Horizon Corporation to Report Q1, 2024 Results on Apr 17, 2024 First Horizon Corporation announced that they will report Q1, 2024 results at 6:45 AM, US Eastern Standard Time on Apr 17, 2024 Upcoming Dividend • Mar 07
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 01 April 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.7%). Reported Earnings • Feb 26
Full year 2023 earnings released: EPS: US$1.58 (vs US$1.62 in FY 2022) Full year 2023 results: EPS: US$1.58 (down from US$1.62 in FY 2022). Revenue: US$2.98b (down 4.2% from FY 2022). Net income: US$865.0m (flat on FY 2022). Profit margin: 29% (up from 28% in FY 2022). Net interest margin (NIM): 3.42% (up from 3.10% in FY 2022). Cost-to-income ratio: 59.9% (down from 61.2% in FY 2022). Non-performing loans: 0.76% (up from 0.56% in FY 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.03% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.03% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Declared Dividend • Jan 26
Fourth quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 14th March 2024 Payment date: 1st April 2024 Dividend yield will be 4.2%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 3.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €13.80, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 33% over the past three years. Aankondiging • Jan 23
First Horizon Corporation and First Horizon Bank Announce Board Changes First Horizon Corporation announced the election of John W. Dietrich, 59, to the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors. Dietrich is Executive Vice President and Chief Financial Officer of FedEx Corporation, a provider of transportation, e-commerce and business services. He is responsible for all aspects of FedEx's global financial functions, including financial planning, treasury, tax, accounting and controls, internal audit, investor relations, and corporate development. He is also a member of the six-person Executive Committee, which plans and executes the corporation's strategic business activities. Prior to joining FedEx, Dietrich served as President, Chief Executive Officer and a member of the board of directors of Atlas Air Worldwide Holdings Inc. from 2019 until it was acquired by an investor group in 2023. He joined Atlas in 1999 as Associate General Counsel, was promoted to Senior Vice President, General Counsel and Corporate Secretary in 2004, and served as Chief Operating Officer from 2006 until 2019. Prior to joining Atlas, he worked at United Airlines for 13 years. Dietrich also serves on the Board of Directors of AAR Corporation and is actively engaged in his industry as Chairman of the National Defense Transportation Association, a member of the Board of Governors of the International Air Transport Association and a member and former Chairman of the National Air Carrier Association. The company also announced the retirement of two esteemed directors, John N. Casbon, 75, and William H. Fenstermaker, 75, effective at First Horizon's 2024 annual meeting of shareholders. Each has served on the First Horizon boards since its merger of equals with IBERIABANK. Throughout their tenure, each has made an indelible mark on the organization. Demonstrating exemplary leadership, they have generously given their time and talents to shape the strategic direction of the organization and drive its continued growth and prosperity. Reported Earnings • Jan 19
Full year 2023 earnings released: EPS: US$1.58 (vs US$1.62 in FY 2022) Full year 2023 results: EPS: US$1.58 (down from US$1.62 in FY 2022). Revenue: US$3.21b (up 3.0% from FY 2022). Net income: US$865.0m (flat on FY 2022). Profit margin: 27% (in line with FY 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Aankondiging • Dec 13
First Horizon Corporation to Report Q4, 2023 Results on Jan 18, 2024 First Horizon Corporation announced that they will report Q4, 2023 results at 6:45 AM, US Eastern Standard Time on Jan 18, 2024 Upcoming Dividend • Dec 07
Upcoming dividend of US$0.15 per share at 4.5% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 02 January 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.3%). Aankondiging • Oct 26
First Horizon Corp Elects Velia Carboni to its Board First Horizon Corp. has elected Velia Carboni of VF Corp. to its board of directors. Carboni has served as EVP and chief digital and technology officer of VF since 2018. In her role with VF, Carboni is responsible for the integration of digital and technology capabilities across all aspects of the company's business, leads the company's digital strategies, and oversees VF's analytics function. Carboni is also a member of the Forbes Technology Council. Carboni spent more than 20 years at Fidelity Investments before joining VF, most recently serving as SVP of mobile and emerging platforms for the company's personal investing/retail division. This announcement comes after E. Stewart Shea told First Horizon he was retiring from the board effective October 16. Shea served as director of First Horizon since 2020 and as director of IberiaBank Corp. from 1990 until it merged with First Horizon in 2020. Aankondiging • Oct 22
First Horizon Corporation and First Horizon Bank Announces Retirement of E. Stewart Shea, III as Board of Director On October 16, 2023, E. Stewart Shea, III informed First Horizon Corporation of his retirement from the boards of directors of First Horizon Corporation and of First Horizon Bank, effective that date. Mr. Shea informed First Horizon that his decision to retire was not due to any disagreement with management on any matter. Mr. Shea has served as a director of First Horizon since 2020, and was a director of IBERIABANK Corporation from 1990 until it merged with First Horizon in 2020. New Risk • Oct 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Aankondiging • Sep 21
First Horizon Corporation to Report Q3, 2023 Results on Oct 18, 2023 First Horizon Corporation announced that they will report Q3, 2023 results at 6:45 AM, US Eastern Standard Time on Oct 18, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.15 per share at 5.0% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 02 October 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.3%). Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: US$0.59 (vs US$0.31 in 2Q 2022) Second quarter 2023 results: EPS: US$0.59 (up from US$0.31 in 2Q 2022). Revenue: US$755.0m (up 5.9% from 2Q 2022). Net income: US$317.0m (up 91% from 2Q 2022). Profit margin: 42% (up from 23% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jun 30
Levi & Korsinsky, LLP Notifies First Horizon Corporation Investors of A Class Action Lawsuit and Upcoming Deadline Levi & Korsinsky, LLP notifies investors in First Horizon Corporation of a class action securities lawsuit. The lawsuit seeks to recover losses on behalf of First Horizon investors who were adversely affected by alleged securities fraud between February 28, 2022 and May 3, 2023. According to the complaint, defendants made false statements and/or concealed that TD Bank failed to disclose material information to the market that it had deficient internal controls that posed a significant risk to the closing of the First Horizon transaction. Specifically, TD Bank suffered from severely ineffective internal controls regarding anti-money laundering practices and failed to appropriately report unusual transactions or suspicious activity to U.S. regulators. According to a report published by The Wall Street Journal, in "recent years," TD Bank only "flagged 28 customer transactions" as suspicious. As a result, the Office of the Comptroller of the Currency and the U.S. Federal Reserve declined to approve the transaction within the necessary time frames. Aankondiging • Jun 22
First Horizon Corporation to Report Q2, 2023 Results on Jul 19, 2023 First Horizon Corporation announced that they will report Q2, 2023 results at 6:45 AM, US Eastern Standard Time on Jul 19, 2023 Aankondiging • May 27
Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of First Horizon Corporation Investors Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased First Horizon Corporation Bank securities between February 28, 2022 and May 3, 2023, inclusive (the “Class Period”). First Horizon investors have until July 21, 2023 to file a lead plaintiff motion. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to €9.10, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 33% over the past three years. Reported Earnings • Apr 19
First quarter 2023 earnings released: EPS: US$0.45 (vs US$0.35 in 1Q 2022) First quarter 2023 results: EPS: US$0.45 (up from US$0.35 in 1Q 2022). Revenue: US$806.0m (up 7.8% from 1Q 2022). Net income: US$243.0m (up 30% from 1Q 2022). Profit margin: 30% (up from 25% in 1Q 2022). Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €15.90, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 132% over the past three years. Upcoming Dividend • Mar 09
Upcoming dividend of US$0.15 per share at 2.8% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.5%). Aankondiging • Jan 25
First Horizon Corporation Declares Cash Dividend on Common Stock, Payable on April 3, 2023 First Horizon Corporation announced that its board of directors has declared a quarterly common stock dividend of $0.15 per share. The dividend is payable on April 3, 2023 to shareholders of record at the close of business on March 17, 2023. Reported Earnings • Jan 19
Full year 2022 earnings released: EPS: US$1.62 (vs US$1.76 in FY 2021) Full year 2022 results: EPS: US$1.62 (down from US$1.76 in FY 2021). Revenue: US$3.11b (down 8.6% from FY 2021). Net income: US$868.0m (down 9.8% from FY 2021). Profit margin: 28% (in line with FY 2021). Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 17
First Horizon Corporation to Report Q4, 2022 Results on Jan 18, 2023 First Horizon Corporation announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Jan 18, 2023 Upcoming Dividend • Dec 08
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 15 December 2022. Payment date: 03 January 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.3%). Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: US$0.48 (vs US$0.41 in 3Q 2021) Third quarter 2022 results: EPS: US$0.48 (up from US$0.41 in 3Q 2021). Revenue: US$815.0m (down 3.8% from 3Q 2021). Net income: US$257.0m (up 15% from 3Q 2021). Profit margin: 32% (up from 26% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.6%). Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$0.31 (vs US$0.54 in 2Q 2021) Second quarter 2022 results: EPS: US$0.31 (down from US$0.54 in 2Q 2021). Revenue: US$724.0m (down 19% from 2Q 2021). Net income: US$166.0m (down 44% from 2Q 2021). Profit margin: 23% (down from 33% in 2Q 2021). Over the next year, revenue is forecast to grow 2.2%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 02
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 01 July 2022. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (6.3%). Reported Earnings • May 08
First quarter 2022 earnings released: EPS: US$0.35 (vs US$0.41 in 1Q 2021) First quarter 2022 results: EPS: US$0.35 (down from US$0.41 in 1Q 2021). Revenue: US$748.0m (down 12% from 1Q 2021). Net income: US$187.0m (down 17% from 1Q 2021). Profit margin: 25% (down from 26% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 7.6% compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 21
First quarter 2022 earnings released: EPS: US$0.35 (vs US$0.41 in 1Q 2021) First quarter 2022 results: EPS: US$0.35 (down from US$0.41 in 1Q 2021). Revenue: US$748.0m (down 12% from 1Q 2021). Net income: US$187.0m (down 17% from 1Q 2021). Profit margin: 25% (down from 26% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 7.8% compared to a 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.76 (down from US$1.90 in FY 2020). Revenue: US$3.41b (up 50% from FY 2020). Net income: US$962.0m (up 17% from FY 2020). Profit margin: 28% (down from 36% in FY 2020). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 2.48% (down from 2.86% in FY 2020). Cost-to-income ratio: 68.6% (up from 54.4% in FY 2020). Non-performing loans: 0.51% (down from 0.67% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 13% compared to a 8.9% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 01 April 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (5.8%). Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 34% share price gain to €21.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Banks industry in Europe. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €40.12 per share. Reported Earnings • Jan 22
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.76 (down from US$1.90 in FY 2020). Revenue: US$3.38b (up 49% from FY 2020). Net income: US$962.0m (up 17% from FY 2020). Profit margin: 28% (down from 36% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 13% compared to a 11% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Dec 02
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 03 January 2022. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (3.4%).