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MEMPHIS - First Horizon Corporation (NYSE:FHN), currently valued at $10.48 billion in market capitalization, announced Monday its board of directors has authorized a new $1.2 billion common stock repurchase program, replacing its prior program which had approximately $180 million remaining. The new program will expire on January 31, 2027. According to InvestingPro data, management has been consistently aggressive with share buybacks, reflecting confidence in the company’s valuation.
The company also declared a quarterly cash dividend of $0.15 per share on its common stock, payable on January 2, 2026, to shareholders of record as of December 12, 2025. The current dividend yield stands at 2.96%, and InvestingPro analysis shows First Horizon has maintained dividend payments for 15 consecutive years.
"Our strong capital position and capital generation support our ability to grow our balance sheet and return excess capital to our shareholders," said Bryan Jordan, Chairman of the Board, President and Chief Executive Officer, in a press release statement.
The repurchases may be executed in the open market or through privately negotiated transactions, including under Rule 10b5-1 plans and accelerated share repurchase structures. The timing and amount will be at management’s discretion, subject to various factors including capital position and market conditions.
First Horizon also declared cash dividends on its Series C, Series E, and Series F Preferred Stock, as well as on First Horizon Bank’s Class A Non-Cumulative Perpetual Preferred Stock.
The financial services company reported $83.2 billion in assets as of September 30, 2025. First Horizon Bank, its banking subsidiary, operates in 12 states primarily in the southern United States, offering commercial, private banking, consumer, small business, wealth management, and other financial services.
In other recent news, First Horizon Corporation announced a new $1.2 billion common stock repurchase program, set to replace its previous program. This initiative, approved by the board of directors, will expire on January 31, 2027. The company also declared a quarterly cash dividend of $0.15 per share, payable on January 2, 2026. Meanwhile, First Horizon’s third-quarter earnings exceeded analyst expectations, supported by stronger revenue and a negative loan loss provision. Despite these results, the company’s stock fell 9% after CEO Bryan Jordan indicated plans for small acquisitions starting in 2026, which drew mixed reactions from investors. DA Davidson maintained a Neutral rating with a $24.00 price target, while TD Cowen lowered its price target from $25.00 to $24.00, maintaining a Hold rating. Additionally, Evercore ISI downgraded First Horizon from Outperform to In Line, reducing its price target to $20.00 from $26.00, following management’s comments about potential acquisitions. RBC Capital Markets noted that recent stock declines in the regional banking sector, including First Horizon, were due to specific events rather than broader industry issues.
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