Strong Trading Drives A Healthy Beat At First Horizon

In a quarter where I believe a lot of regional banks will continue to report “okay, but not great” earnings, First Horizon’s (FHN) second quarter earnings certainly stand out. While some will discount the importance of a beat driven by the bank’s bond trading operations, there were some other underlying positives including good expense control and solid deposit cost control.

I think First Horizon may be a little better-positioned for upcoming rate cuts than commonly believed, and I continue to believe the shares are relatively attractive on a valuation basis.

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Strong Trading Drives A Healthy Beat At First Horizon