FHN · the NYSE · USD · Market cap $11.7B · 7,400 employees
First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services.
FAIL · Does not pass the screen
24.76 USD
At the last full screen 2026-09-10
Screened 2026-09-10 · the tape above runs as of 21:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
First Horizon Corp holds its Markdown at $24.76. The statistical read favours the buyers, held for 12 days.
As held on the ledger · 2026-09-10
Phase
Markdown · caution
Quantitative state
The statistical read favours the buyers, held for 12 days
Price at the screen
$24.76
Valuation
11.90 trailing · 10.72 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.61
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Banks - Regional
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Banks - Regional
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Conscience Overlay
Conscience flag · AFSC Investigate
The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Documented on AFSC Investigate. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
Fair value range in USD, drawn from the 2026-09-10 screen. The gold marker is the market price at the same screen. A 25.2% margin of safety to the base estimate.
Third-party analyst targets: 20 covering, consensus Buy. The average target sits +14% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-10 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Regional Banks Hit Our Ethical Wall
Picture a Memphis branch where local firms borrow for payroll and families take out mortgages. First Horizon handles that everyday banking across the south. The numbers look steady, with revenue up 10 percent, a 30 percent profit margin and an 11 percent return on equity at a forward multiple of 11.2 times.
We pass outright. The ethical screen rules out regional banks on principle, regardless of the narrow moat or the analyst consensus buy rating and 28 dollar median target. Our own fair value sits at 30 dollars, yet the industry exclusion overrides any margin of safety.
Valuations this low often mask cyclical earnings that can fall fast when rates turn or credit losses rise. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FHN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-29Markdown$24.53-4.9%Entry 5
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (19 analysts) rates it buy, with a mean price target of $27.
2026-07-28Markdown$25.80+2.6%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (19 analysts) rates it buy, with a mean price target of $27.
2026-07-18Markdown$25.14+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 25%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (19 analysts) rates it buy, with a mean price target of $27.
2026-07-03Markdown$25.14+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markdown$25.14Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
