First Horizon Corporation Stock Price, News & Analysis

First Horizon and Operation HOPE have launched the first 'HOPE Inside' location in Louisiana to provide free financial coaching services. Situated at First Horizon's Mid-City Canal Banking Center in New Orleans, this initiative aims to enhance financial literacy and empower low- to moderate-income families. Since its inception in 2014, First Horizon has increased HOPE Inside to 30 locations across its footprint, offering workshops and one-on-one counseling to improve money management skills. The program plays a crucial role in the financial inclusion network, transitioning individuals toward better financial stability.

First Horizon Corporation (NYSE: FHN) will release its third quarter financial results on October 18, 2022, after market close. The earnings materials will be accessible on the company's website under Events and Presentations. With $85.1 billion in assets as of June 30, 2022, First Horizon is a prominent regional financial services firm, operating in 12 southern U.S. states. The firm provides various banking and financial services, including commercial and private banking.

On August 16, 2022, Turk and Company announced the acquisition of Lenders Title Group, a subsidiary of First Horizon Corporation (NYSE:FHN), by Knox-Precision Holdings, LLC. Lenders Title, one of the largest title insurance agencies in the Southeastern U.S., has over 100 years of experience. The acquisition is expected to enhance Knox-Precision's plans to expand its geographic footprint and build a leading independent title agency. Both parties expressed satisfaction with the deal, highlighting the potential for employee growth and operational synergies.

First Horizon Corporation (NYSE: FHN) reported robust results from its 2022 capital stress test, showcasing its resilience amid economic challenges. The company's common equity tier 1 capital ratio stood at 8.4%, with a pre-tax loss absorption capacity of $3.3 billion beyond regulatory minimums. Stress test results highlighted a loan portfolio stressed loss rate of 2.5%, significantly lower than the Federal Reserve's median. Additionally, First Horizon's pre-provision net revenue as a percentage of total assets was 2.3%, surpassing the peer median of 2.1%. These results affirm First Horizon's strong capital position and risk management practices.

First Horizon Corporation (NYSE: FHN) announced a quarterly cash dividend of $0.15 per share for common stock, payable on October 3, 2022, to shareholders of record by September 9, 2022. Additionally, preferred stock dividends were declared for Series C, D, E, and F, with payments ranging from $0.29375 to $0.4125 per Depositary Share, payable on October 11, 2022 and November 1, 2022. The company reported $85.1 billion in assets as of June 30, 2022.

First Horizon Corporation (NYSE: FHN) reported second quarter 2022 net income of $166 million, or $0.29 per share, a decrease from $187 million or $0.34 in the prior quarter. Adjusted net income was $195 million, down from $211 million. Despite strong net interest income and expense discipline, notable items led to a net impact of $29 million. Total assets reached $85.1 billion, showcasing resilience in high-growth markets and specialty lending.

First Horizon Corporation (NYSE: FHN) has published its Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report for 2021 and early 2022. The report outlines progress across five key pillars: Governance, Associates, Clients, Communities, and Environment. Notable achievements include assigning ESG oversight to the board, calculating GHG emissions, and investing over $19 million in community initiatives. The company emphasizes its commitment to sustainable economic growth and enhancing stakeholder value.

First Horizon Corporation (NYSE: FHN) announced shareholder approval for The Toronto-Dominion Bank (TD) to acquire it, with the transaction expected to close in Q1 of TD's 2023 fiscal year, pending regulatory approvals. The CEO, Bryan Jordan, emphasized the deal's strategic benefits and the value it brings to stakeholders. The press release includes cautionary notes about forward-looking statements related to potential risks that could affect the transaction's completion, including regulatory hurdles and market conditions.