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FHN · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is First Horizon Corporation (FHN) stock moving?
FHN closed at $23.56 on Nov 10, inside a two-week range of $22.91 to $24.29 with no volume spike, so the stock has been moving sideways. The main news is Wells Fargo raising its price target from $25 to $26 on Nov 9 while keeping an Equal-Weight/Hold rating. That target implies roughly 10% upside from the last close, but a neutral rating limits how much weight to give it. The other items are minor: a staffing appointment in New Orleans and a foundation donation, neither of which affects the financials. The SEC filings listed (an Oct 15 8-K on results of operations, an Oct 27 8-K on an officer or director change, and a Nov 5 10-Q) were provided without readable content, so their impact cannot be assessed. Overall the evidence is thin and only slightly positive.
News behind the analysis
- Wells Fargo Adjusts First Horizon Price Target to $26Wells Fargo analyst Terry McEvoy kept a Hold rating on First Horizon and raised the price target from $25 to $26.
- Wells Fargo Maintains Equal-Weight on First Horizon, Raises Price Target to $26Wells Fargo kept its Equal-Weight rating on First Horizon and raised its price target to $26.
- First Horizon Bank Appoints Elizabeth Adler as Treasury Management Sales Officer for New OrleansFirst Horizon Bank named Elizabeth Adler as its new Treasury Management Sales Officer for New Orleans. This is a routine staffing change with no financial impact.
- Louisiana First Horizon Foundation Announces Investment in Louisiana Music MuseumThe Louisiana First Horizon Foundation announced an investment in the Louisiana Music Museum, a community program of the Acadiana Center for the Arts. This is unrelated to the company's financial performance.
About First Horizon Corporation
First Horizon is a regional bank holding company based in Memphis, Tennessee, with about $84 billion in assets. Its First Horizon Bank runs over 400 branches across 12 mostly Southern states, and it also owns FHN Financial, a large fixed-income trading and capital markets business that is unusual for a bank its size.
How it makes money
Most of its revenue, very roughly three-quarters, is net interest income: the gap between what it earns on loans (mainly commercial loans, plus mortgages and other consumer loans) and securities and what it pays on deposits. The rest is fee income from fixed-income trading at FHN Financial, wealth and trust management, mortgage banking, deposit service charges and card fees. In October 2026 it agreed to sell about $4.5 billion of lower-yielding consumer mortgages, which led to a reported loss for Q3 2026.
What usually moves FHN
- Interest rates and net interest margin
- Loan growth and credit quality in the Southern US
- Fixed-income trading activity at FHN Financial
- Bank M&A speculation and regulation
- Share buybacks and capital levels