First Horizon (NYSE:FHN) Releases Quarterly Earnings Results

First Horizon (NYSE:FHN) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04, Briefing.com reports. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the previous year, the firm earned $0.27 EPS.

First Horizon Stock Performance

Shares of FHN stock opened at $17.39 on Thursday. First Horizon has a 52-week low of $10.16 and a 52-week high of $17.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.51 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The business has a 50-day simple moving average of $15.78 and a 200-day simple moving average of $15.55.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s dividend payout ratio is currently 41.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James lowered shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a report on Thursday, July 18th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. Royal Bank of Canada boosted their price target on First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.