First Horizon's Preferred Stock, Series H Shares Cross 9% Yield Mark

First Horizon’s FHN.PRH preferred shares are trading with a dividend yield above 9%, annualized at $2.2125 per share, with the stock changing hands as low as about $24.50. The unusually high yield suggests the market is pricing elevated risk relative to typical preferred returns, though the item appears more like market pricing/flow information than a new fundamental catalyst.

Analysis

First Horizon’s FHN.PRH preferred shares are trading with a dividend yield above 9%, annualized at $2.2125 per share, with the stock changing hands as low as about $24.50. The unusually high yield suggests the market is pricing elevated risk relative to typical preferred returns, though the item appears more like market pricing/flow information than a new fundamental catalyst.