First Horizon Corp reports Q3 loss on mortgage sale impact

First Horizon

15/10/2026 11:41

Overview
U.S. regional bank's Q3 adjusted EPS met analyst expectations
Company reported Q3 net loss of $94 mln due to notable items tied to mortgage sale
Company expects mortgage sale to support future earnings and loan growth

Outlook
Company expects mortgage portfolio sale to be accretive to earnings going forward
First Horizon says balance sheet changes will support future loan growth

Result Drivers
MORTGAGE SALE IMPACT - Net loss driven by notable items related to reclassifying and pending sale of ~$4.5 bln in lower-yielding consumer mortgages
DEPOSIT GROWTH - Average client deposit balances increased $1.3 bln in the quarter, per CEO Bryan Jordan

Company press release: ID:nPn8pkHsRa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Meet
$0.53
$0.53 (20 Analysts)
Q3 Loss Per Share
 
$0.20
 
Q3 Net Loss
 
$94 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for First Horizon Corporation is $27.00, about 19.1% above its October 14 closing price of $22.67
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)