First Horizon (NYSE:FHN) Posts Earnings Results, Beats Estimates By $0.04 EPS

First Horizon (NYSE:FHN) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04, Briefing.com reports. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates 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 business earned $0.27 EPS.

First Horizon Stock Performance

FHN opened at $17.44 on Friday. The business’s 50-day simple moving average is $15.83 and its 200 day simple moving average is $15.56. First Horizon has a 52-week low of $10.16 and a 52-week 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 $9.53 billion, a PE ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.88.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s payout ratio is 41.96%.

Analysts Set New Price Targets

A number of research firms have issued reports on FHN. Royal Bank of Canada boosted their target price on First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and decreased their price objective 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 target price on shares of First Horizon in a report on Wednesday, July 17th. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a report on Thursday, July 18th. Finally, Barclays raised their price objective on shares of First Horizon from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday. Six 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 company has a consensus rating of “Moderate Buy” and a consensus 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.