First Horizon (NYSE:FHN) Announces Quarterly Earnings Results

First Horizon (NYSE:FHN) posted its earnings results on Wednesday. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04, Briefing.com reports. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period last year, the company earned $0.27 earnings per share.

First Horizon Stock Performance

First Horizon stock remained flat at $17.44 during midday trading on Friday. The company had a trading volume of 2,098,892 shares, compared to its average volume of 6,577,076. The stock’s 50-day moving average price is $15.83 and its 200-day moving average price is $15.56. First Horizon has a twelve month low of $10.16 and a twelve month high of $17.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $9.54 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.88.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s payout ratio is 41.96%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $17.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price objective on shares of First Horizon in a research report on Wednesday, July 17th. Evercore ISI lowered their price objective on First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Stephens raised their price objective on First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.69.

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.