FHN Reaps Benefits of Southern Population Growth and Disney+, Theme Parks, and the Hybrid Release of Black Widow 🏰
FHN Reaps Benefits of Southern Population Growth and Disney+, Theme Parks, and the Hybrid Release of Black Widow
First Horizon National
First Horizon Corporation is a bank holding company based in Memphis, Tennessee. Its banking subsidiary, First Horizon, is the largest bank in Tennessee and the fourth largest regional banking company in the Southeast.
As a bank in the south, an influx of intranational migration to the south of the United States has benefited the bank. The CEO of the bank, Bryan Jordan, said “We’re seeing an influx of people into the South. It’s been very, very positive, and we will continue to see that”. The Bank has $87.9 billion in assets as of June 30. And the significant population shifts in states like Florida, Georgia and Tennessee and boosting the banks. For those looking to invest, shares of First Horizon closed down more than 3% Monday at $15.01. On the monthly chart, the stock is down 22% from early June.
The Walt Disney Company, commonly known as Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney has made a major contribution to media in the pandemic with the release of Disney+.
Disney’s 2020 annual report described, the “most significant impact of COVID-19 on fiscal 2020 operating results was an estimated detriment of approximately $6.9 billion on operating income at our Parks … due to revenue lost as a result of the closures or reduced operating capacities”. With Disney+ they were able to weather the pandemic and with so much pent-up demand to visit Disney parks, revenues from the parks have also been rolling back in. Disney has also been making moves on the big screen with the hybrid release of Black Widow, the latest Marvel Studios’ superhero movie, foreshadows ongoing growth for Disney.
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