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First Horizon board authorizes $650 million share repurchase plan

First Horizon FHN, -0.42% said its board authorized a stock repurchase plan for up to $650 million.

“Our strong capital provides for more optionality to capitalize on strategic growth opportunities while continuing to operate in the context of safety and soundness and return capital to our shareholders,” said Bryan Jordan, chairman, president and chief executive, on Tuesday.

First Horizon, the parent company of First Horizon Bank, has a market cap of $7.99 billion, 558.77 million shares outstanding and a public float of 550.11 million shares.

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