(FHN) First Horizon National - Overview
Stock: Banking, Loans, Wealth Management, Treasury Services
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.89% |
| Yield on Cost 5y | 5.93% |
| Yield CAGR 5y | 0.00% |
| Payout Consistency | 86.2% |
| Payout Ratio | 31.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 30.2% |
| Relative Tail Risk | -8.92% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.60 |
| Alpha | 2.15 |
| Character TTM | |
|---|---|
| Beta | 1.144 |
| Beta Downside | 1.494 |
| Drawdowns 3y | |
|---|---|
| Max DD | 60.76% |
| CAGR/Max DD | 0.09 |
Description: FHN First Horizon National January 06, 2026
First Horizon National Corporation (NYSE:FHN) is a bank holding company headquartered in Memphis, Tennessee, operating through three primary segments: Regional Banking, Specialty Banking, and Corporate. The Regional Banking unit delivers traditional deposit, loan, and wealth-management services to commercial, business, and consumer customers, while the Specialty Banking arm focuses on wholesale financing-including fixed-income capital markets, real-estate, equipment, energy, healthcare, and transportation lending-as well as treasury and international banking solutions. The Corporate segment provides transaction processing, credit-card issuance, mutual-fund distribution, and trust-and-fiduciary services.
Key performance indicators from FY 2023 show a loan portfolio of approximately **$28 billion**, a deposit base of **$30 billion**, and a **net interest margin of 3.5%**, reflecting the benefit of a higher-for-longer interest-rate environment. The bank reported **earnings per share of $0.66** for the fourth quarter, driven by robust loan-growth of 5% YoY and disciplined expense management that kept the efficiency ratio near **58%**.
Sector-wide, regional banks like First Horizon are sensitive to Federal Reserve policy; the recent cycle of rate hikes has boosted net interest income but also raises credit-risk concerns in commercial real-estate and energy-finance portfolios. Additionally, the ongoing shift toward digital banking accelerates the need for investment in fintech capabilities, a factor that could influence future cost-to-income ratios.
For a deeper dive into FHNs valuation metrics and scenario analysis, see the ValueRay platform.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 982.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -1.22 > 1.0 |
| NWC/Revenue: -58.80% < 20% (prev -1227 %; Δ 1169 % < -1%) |
| CFO/TA 0.01 > 3% & CFO 423.0m > Net Income 982.0m |
| Net Debt (3.61b) to EBITDA (1.34b): 2.70 < 3 |
| Current Ratio: 0.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (496.0m) vs 12m ago -7.12% < -2% |
| Gross Margin: 66.84% > 18% (prev 0.60%; Δ 6625 % > 0.5%) |
| Asset Turnover: 5.92% > 50% (prev 6.01%; Δ -0.09% > 0%) |
| Interest Coverage Ratio: 0.82 > 6 (EBITDA TTM 1.34b / Interest Expense TTM 1.56b) |
Altman Z'' 0.14
| A: -0.03 (Total Current Assets 68.45b - Total Current Liabilities 71.34b) / Total Assets 83.88b |
| B: 0.06 (Retained Earnings 5.03b / Total Assets 83.88b) |
| C: 0.02 (EBIT TTM 1.28b / Avg Total Assets 83.01b) |
| D: 0.06 (Book Value of Equity 4.52b / Total Liabilities 74.73b) |
| Altman-Z'' Score: 0.14 = B |
What is the price of FHN shares?
Over the past week, the price has changed by +4.88%, over one month by +6.38%, over three months by +20.05% and over the past year by +21.32%.
Is FHN a buy, sell or hold?
- StrongBuy: 7
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the FHN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 27.5 | 5.6% |
| Analysts Target Price | 27.5 | 5.6% |
| ValueRay Target Price | 28.1 | 8% |
FHN Fundamental Data Overview February 10, 2026
P/E Forward = 12.9534
P/S = 3.8496
P/B = 1.497
P/EG = 1.67
Revenue TTM = 4.91b USD
EBIT TTM = 1.28b USD
EBITDA TTM = 1.34b USD
Long Term Debt = 1.32b USD (from longTermDebt, last quarter)
Short Term Debt = 3.25b USD (from shortTermDebt, last quarter)
Debt = 4.57b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.61b USD (from netDebt column, last quarter)
Enterprise Value = 12.87b USD (12.92b + Debt 4.57b - CCE 4.62b)
Interest Coverage Ratio = 0.82 (Ebit TTM 1.28b / Interest Expense TTM 1.56b)
EV/FCF = 31.69x (Enterprise Value 12.87b / FCF TTM 406.0m)
FCF Yield = 3.16% (FCF TTM 406.0m / Enterprise Value 12.87b)
FCF Margin = 8.26% (FCF TTM 406.0m / Revenue TTM 4.91b)
Net Margin = 19.99% (Net Income TTM 982.0m / Revenue TTM 4.91b)
Gross Margin = 66.84% ((Revenue TTM 4.91b - Cost of Revenue TTM 1.63b) / Revenue TTM)
Gross Margin QoQ = 70.31% (prev 68.61%)
Tobins Q-Ratio = 0.15 (Enterprise Value 12.87b / Total Assets 83.88b)
Interest Expense / Debt = 8.20% (Interest Expense 375.0m / Debt 4.57b)
Taxrate = 22.74% (78.0m / 343.0m)
NOPAT = 989.7m (EBIT 1.28b * (1 - 22.74%))
Current Ratio = 0.96 (Total Current Assets 68.45b / Total Current Liabilities 71.34b)
Debt / Equity = 0.52 (Debt 4.57b / totalStockholderEquity, last quarter 8.85b)
Debt / EBITDA = 2.70 (Net Debt 3.61b / EBITDA 1.34b)
Debt / FCF = 8.90 (Net Debt 3.61b / FCF TTM 406.0m)
Total Stockholder Equity = 8.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.18% (Net Income 982.0m / Total Assets 83.88b)
RoE = 11.06% (Net Income TTM 982.0m / Total Stockholder Equity 8.88b)
RoCE = 12.56% (EBIT 1.28b / Capital Employed (Equity 8.88b + L.T.Debt 1.32b))
RoIC = 9.02% (NOPAT 989.7m / Invested Capital 10.97b)
WACC = 9.14% (E(12.92b)/V(17.49b) * Re(10.13%) + D(4.57b)/V(17.49b) * Rd(8.20%) * (1-Tc(0.23)))
Discount Rate = 10.13% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -5.97%
[DCF Debug] Terminal Value 72.66% ; FCFF base≈804.0m ; Y1≈743.2m ; Y5≈672.5m
Fair Price DCF = 12.88 (EV 9.86b - Net Debt 3.61b = Equity 6.25b / Shares 485.0m; r=9.14% [WACC]; 5y FCF grow -9.52% → 2.90% )
EPS Correlation: 36.54 | EPS CAGR: 8.72% | SUE: 2.72 | # QB: 3
Revenue Correlation: 78.19 | Revenue CAGR: 16.21% | SUE: 3.11 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.50 | Chg30d=+0.042 | Revisions Net=+13 | Analysts=15
EPS current Year (2026-12-31): EPS=2.13 | Chg30d=+0.145 | Revisions Net=+14 | Growth EPS=+12.6% | Growth Revenue=+4.4%
EPS next Year (2027-12-31): EPS=2.34 | Chg30d=+0.116 | Revisions Net=+11 | Growth EPS=+10.1% | Growth Revenue=+4.0%