$FHN

First Horizon (FHN) shares rose about 2.4% since its last earnings report, though they lagged the S&P 500. In Q2 2026, EPS was 54 cents vs 52 cents expected, with net income of $260 million. Revenue was $887 million, driven by higher NII and fee income, while expenses rose and capital ratios fell. Outlook calls for 3-7% adjusted revenue growth.

Nigeria’s NGX equities market fell on Tuesday as profit-taking hit banking and other large caps. The NGX All-Share Index dropped 0.73% to 246,723.57 points, cutting market cap by 0.73% to N159.26tn and removing N1.17tn in wealth. Losses in MTN Nigeria, Dangote Sugar Refinery, Nigerian Breweries, and major banks outweighed gains; sector moves were mixed.

First HoldCo Plc’s market capitalization rose above N6 trillion after its shares hit a 52-week high on the NGX. Shares gained 5.48% to N136.65 intraday, with market cap around N6.23 trillion based on 44.45 billion shares. The stock later closed near N134. Chairman Femi Otedola increased his stake to 25.88% via Calvados Global Services, buying 1.77 billion shares for N222.20 billion on July 30.

First Horizon reported Q2 2026 brokered deposits rose 47% to $7.8B as commercial loan growth increased, lifting interest-bearing deposit costs 5 bps to 2.33% and reducing net interest margin 3 bps to 3.49%. Net interest income rose $9M to $679M. Net income rose 12% to $260M, EPS $0.54. Outlook reiterated for 2026.

Corporate turnarounds are rarely discreet. Femi Otedola’s effort to remake First HoldCo is proving particularly conspicuous. Nigeria’s oldest lender this week overtook its larger rivals to become the country’s most valuable listed bank, ending Tuesday with a market capitalisation of ₦5.78tn, ahead of Zenith Bank’s ₦5.2tn and GTCO’s ₦4.82tn. Investors have rewarded a combination of record earnings and sustained share purchases by the group’s chairman. The fundamentals have improved markedly.

According to an NGX regulatory filing, Femi Otedola, via Calvados Global Services Limited, bought 1.77 billion additional First HoldCo Plc shares for N222.20 billion on Thursday. His holdings rose from 9.99 billion to 11.77 billion shares, lifting stake to 25.88%. The purchase follows a July acquisition and keeps him the bank’s largest shareholder.

First Horizon Corporation (NYSE: FHN) reported results of its 2026 company-run capital stress test using the Fed’s Feb. 4, 2026 Dodd-Frank Severely Adverse Scenario. The firm said it would keep capital ratios above regulatory minimums, with a CET1 ratio of 9.3% and a stressed loan loss rate of 2.3% versus a 6.7% peer median. It also cited pre-provision net revenue of 5.1% and a $0.17 quarterly dividend during the nine-quarter horizon.

Jim Cramer endorsed First Horizon (FHN) on July 27, saying it was “very inexpensive.” The bank’s Q2 results showed net income of $260 million (+12% YoY), EPS of $0.54, and adjusted EPS up 20%, with revenue at $887 million. Loans rose about $2B YoY and deposits $1.6B sequentially, while ROE exceeded 15%.

First HoldCo shares on Nigeria’s NGX rose 122.02% in July, closing at N127 Tuesday versus N57.20 kobo July 1, according to NGX data. The move implies a N1 million investment would be worth about N2.22 million after 28 days. The stock hit new highs, and the article notes chairman Femi Otedola raised his stake to 21.96%.

First Horizon Corporation (NYSE: FHN) said its board declared a quarterly cash dividend of $0.17 per share on common stock, payable Oct. 1, 2026 to holders of record Sept. 11. It also declared dividends on FHN Series E ($1,625), Series F ($1,175), Series H ($1,687.50) preferred and First Horizon Bank Class A non-cumulative perpetual preferred, payable Oct. 13 to holders of record Sept. 28.