Analyst Consensus ?
ConsensusHold35 ratings
Bullish1542.9%
Neutral2057.1%
Bearish00.0%
First Horizon Corporation · FHN · FY2025 Q3 · Calendar Q4 2025
FHN Q3 2025: EPS Beat, Margin Expansion and Maintained Guidance
The quarter supports a constructive but conditional view: stronger earnings, margin expansion, deposit retention, and identified revenue opportunities provide evidence for continued growth, while margin durability, credit quality, deposit competition, and M&A execution remain key tests.
Reported Before market openNYSEFinancial Services
$10.83B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.51
Consensus $0.45
EPS surprise
+14.5%
Reported versus consensus
Reported revenue
$865.0M
Consensus $847.3M
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-9.4%
Event window
SPY move
+0.4%
Same window
Abnormal move
-9.9%
Stock minus SPY
Volume
4.6×
Versus trailing sessions
Subsequent drift
+4.6%
Up to 20 sessions
FHNSPY benchmark
Ask FN2 about FHN FY2025 Q3
Transcript, numbers and history already loaded
Why did FHN fall 9.4% after beating EPS estimates in FY2025 Q3?What changed in FHN's guidance and outlook in FY2025 Q3?Give me the bull and bear case for FHN after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current call showed higher adjusted EPS, wider net interest margin, continued strong deposit retention, accelerated buybacks, and a flat CET1 ratio. Management maintained guidance and continued to emphasize technology investment, organic Southern U.S. growth, and opportunistic M&A.
Guidance delta
Maintained; management reaffirmed 2025 guidance.
Key takeaways
- Adjusted EPS was $0.51, while net interest margin expanded to 3.55%.
- Deposit retention remained near 97%, with non-interest-bearing deposits growing.
- Management highlighted $100 million-plus of pre-tax, pre-provision revenue opportunities.
- Share buybacks accelerated, while CET1 remained at 11% and capital normalization continued.
Management priorities
- Pursue pre-tax, pre-provision revenue opportunities through organic growth and client relationships.
- Invest in technology infrastructure and process improvements while maintaining a flat expense outlook.
- Continue capital normalization toward the long-term CET1 target.
- Expand the Southern U.S. footprint and consider strategic fill-in acquisitions.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$22.86Current
$16Low
$24.8Average
$30High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 16, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Hold | Hold | Maintain | Oct 9, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 1, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Sep 30, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 16, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Jul 1, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Apr 16, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Apr 16, 2026 |
| UBS | Neutral | Buy | Downgrade | Apr 7, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 7, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jan 16, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jan 16, 2026 |
| Baird | Neutral | Outperform | Downgrade | Dec 11, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 10, 2025 |
| B of A Securities | Buy | Buy | Maintain | Jul 17, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Nov 26, 2024 |
| Wedbush | Neutral | Outperform | Downgrade | Sep 24, 2024 |
| Jefferies | Buy | Buy | Maintain | Jul 3, 2024 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Mar 1, 2022 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Dec 6, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jul 21, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Nov 5, 2019 |
| Deutsche Bank | Buy | Hold | Upgrade | Nov 13, 2018 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Jul 18, 2018 |
| Hovde Group | Outperform | Market Perform | Upgrade | Jun 29, 2018 |
| PiperJaffray | Overweight | Overweight | Maintain | Apr 9, 2018 |
| FBR Capital | Market Perform | Underperform | Upgrade | Apr 21, 2015 |
| Compass Point | Buy | Buy | Maintain | Jan 21, 2014 |
| Sandler O'Neill | Hold | Buy | Downgrade | Oct 21, 2013 |
| Piper Sandler | Hold | Buy | Downgrade | Oct 21, 2013 |
| Wunderlich Securities | Hold | Buy | Downgrade | Sep 10, 2013 |
| Wunderlich | Hold | Buy | Downgrade | Sep 10, 2013 |
| FIG Partners | Market Perform | Outperform | Downgrade | Sep 26, 2012 |
| Sterne Agee | Neutral | Neutral | Maintain | Sep 12, 2012 |
| Guggenheim | Buy | Neutral | Upgrade | May 21, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $22.86. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $25 | $23.31 | +9.4% | Oct 9, 2026 |
| Evercore ISI | John Pancari | $25 | $23.02 | +9.4% | Oct 1, 2026 |
| Hovde Group | Analyst unavailable | $25 | $23.93 | +9.4% | Sep 17, 2026 |
| Morgan Stanley | Ryan Kenny | $30 | $24.94 | +31.2% | Sep 8, 2026 |
| National Bank | Ryan Kenny | $30 | $24.94 | +31.2% | Sep 8, 2026 |
| Wells Fargo | Terry McEvoy | $28 | $25.46 | +22.5% | Aug 10, 2026 |
| National Bank | Peter Winter | $29 | $25.1 | +26.9% | Jul 16, 2026 |
| Evercore ISI | Analyst unavailable | $27 | $25.73 | +18.1% | Jul 6, 2026 |
| Wells Fargo | Analyst unavailable | $26 | $25.68 | +13.7% | Jul 6, 2026 |
| Fundamental Research | Analyst unavailable | $28.5 | $25.64 | +24.7% | Jul 1, 2026 |
| Raymond James | Analyst unavailable | $28 | $25.64 | +22.5% | Jul 1, 2026 |
| UBS | Analyst unavailable | $29 | $25.72 | +26.9% | Feb 4, 2026 |
| National Bank | Janet Lee | $27 | $24.32 | +18.1% | Jan 16, 2026 |
| D.A. Davidson | Peter Winter | $27 | $24.26 | +18.1% | Jan 16, 2026 |
| Stephens | Analyst unavailable | $29 | $24.44 | +26.9% | Jan 16, 2026 |
| Barclays | Analyst unavailable | $30 | $24.44 | +31.2% | Jan 16, 2026 |
| RBC Capital | Analyst unavailable | $28 | $24.16 | +22.5% | Jan 12, 2026 |
| Truist Financial | Analyst unavailable | $27 | $24.75 | +18.1% | Jan 9, 2026 |
| UBS | Analyst unavailable | $28 | $24.8 | +22.5% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $27 | $24.38 | +18.1% | Jan 6, 2026 |
| Truist Financial | Analyst unavailable | $26 | $24.2 | +13.7% | Dec 18, 2025 |
| Deutsche Bank | Analyst unavailable | $28 | $23.72 | +22.5% | Dec 16, 2025 |
| National Bank | Bernard von Gizycki | $28 | $23.71 | +22.5% | Dec 16, 2025 |
| Barclays | Analyst unavailable | $28 | $21.82 | +22.5% | Nov 11, 2025 |
| Wells Fargo | Timur Braziler | $23 | $20.85 | +0.6% | Oct 16, 2025 |
| Jefferies | David Chiaverini | $25 | $20.85 | +9.4% | Oct 15, 2025 |
| Raymond James | Analyst unavailable | $23 | $20.85 | +0.6% | Oct 15, 2025 |
| Robert W. Baird | Analyst unavailable | $25 | $20.44 | +9.4% | Oct 15, 2025 |
| RBC Capital | Analyst unavailable | $27 | $23.43 | +18.1% | Oct 10, 2025 |
| Barclays | Analyst unavailable | $29 | $22.98 | +26.9% | Oct 8, 2025 |
| Raymond James | Analyst unavailable | $25 | $23.05 | +9.4% | Oct 7, 2025 |
| Evercore ISI | John Pancari | $26 | $22.66 | +13.7% | Sep 30, 2025 |
| Wells Fargo | Analyst unavailable | $25 | $22.85 | +9.4% | Sep 29, 2025 |
| D.A. Davidson | Peter Winter | $24 | $22.66 | +5.0% | Sep 25, 2025 |
| Robert W. Baird | Brennan Crowley | $17 | $17.39 | -25.6% | Oct 17, 2024 |
| RBC Capital | Jon Arfstrom | $20 | $17.39 | -12.5% | Oct 17, 2024 |
| Stephens | Russell Gunther | $20 | $17.39 | -12.5% | Oct 17, 2024 |
| National Bank | Benjamin Gerlinger | $20 | $17.39 | -12.5% | Oct 17, 2024 |
| Evercore ISI | John Pancari | $18 | $14.92 | -21.3% | Oct 2, 2024 |
| Barclays | Jared Shaw | $19 | $14.67 | -16.9% | Jun 24, 2024 |
| Stephens | Russell Gunther | $19 | $16 | -16.9% | May 22, 2024 |
| Robert W. Baird | Brennan Crowley | $16 | $14.17 | -30.0% | Apr 18, 2024 |
| National Bank | Benjamin Gerlinger | $18.5 | $14.17 | -19.1% | Apr 18, 2024 |
| RBC Capital | Jon Arfstrom | $18 | $15.15 | -21.3% | Apr 9, 2024 |
| National Bank | Brady Gailey | $18 | $14.73 | -21.3% | Apr 4, 2024 |
| UBS | Brody Preston | $16 | $15.12 | -30.0% | Jan 24, 2024 |
| J.P. Morgan | Steven Alexopoulos | $20 | $17.26 | -12.5% | Jan 24, 2022 |
| Morgan Stanley | Ken Zerbe | $21 | $16.35 | -8.1% | Dec 6, 2021 |
| Truist Financial | Jennifer Demba | $20 | $15.48 | -12.5% | Sep 3, 2021 |
Track every rating change on FHN the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFirst Horizon Corporation functions as the parent company of First Horizon Bank, offering a diverse range of financial services. Its operations are segmented into three core divisions: Regional Banking, Specialty Banking, and Corporate. The company provides standard banking services to consumers, businesses, financial institutions, and governmental bodies. Beyond core banking, it also underwrites eligible securities, such as fixed-income instruments, via its financial subsidiaries; engages in the sale of loans and derivatives; and provides advisory services.…
Historical context
All FHN earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| SCHW-PJ The Charles Schwab Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.4% | — | Schwab reports record Q3 as AI and lending broaden growth drivers |
| SCHW-PD The Charles Schwab Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.4% | — | Schwab pairs record Q3 results with expanded AI and product plans |
| SCHW The Charles Schwab Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.4% | -2.7% | Schwab posts record Q3 revenue as lending and AI initiatives advance |
| MRSH Marsh & McLennan Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.0% | +4.6% | MRSH Q3: AI, Thrive expansion support growth outlook |
| USB-PR U.S. Bancorp | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises outlook as BTIG and fee growth lift Q3 |
| USB-PS U.S. Bancorp Depositary Shares, | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises guidance as BTIG and fee growth support Q3 |
Latest beats and misses
Who reports nextBeat on EPS
- SCHW-PJFY2026 Q3 · October 15, 2026+2.4% EPS— move
- SCHW-PDFY2026 Q3 · October 15, 2026+2.4% EPS— move
- SCHWFY2026 Q3 · October 15, 2026+2.4% EPS-2.7% move
- TSMFY2026 Q3 · October 15, 2026+3.4% EPS-1.8% move
- MRSHFY2026 Q3 · October 15, 2026+3.0% EPS+4.6% move
- ERICFY2026 Q3 · October 15, 2026+28.6% EPS+11.8% move
Get the FHN recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-16T02:30:44.926897+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T02:30:44.924140+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-16. For educational purposes only; not investment advice.