First Horizon (NYSE:FHN) Issues Earnings Results, Beats Expectations By $0.04 EPS

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

First Horizon Stock Performance

Shares of First Horizon stock opened at $17.39 on Thursday. The business’s fifty day simple moving average is $15.78 and its 200-day simple moving average is $15.55. 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 firm 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. First Horizon has a 52 week low of $10.16 and a 52 week high of $17.61.

First Horizon Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FHN. Jefferies Financial Group upped their price target on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Barclays raised their target price on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Finally, 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 research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.