First Horizon (NYSE:FHN) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

First Horizon (NYSE:FHN) issued its earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01), RTT News reports. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. During the same period in the previous year, the firm earned $0.39 EPS.

First Horizon Price Performance

NYSE FHN traded up $0.22 on Friday, reaching $16.42. 7,818,510 shares of the company’s stock traded hands, compared to its average volume of 6,998,305. The stock has a market cap of $8.98 billion, a PE ratio of 11.35, a P/E/G ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. First Horizon has a 12 month low of $10.08 and a 12 month high of $17.46. The stock has a 50-day simple moving average of $15.53 and a 200 day simple moving average of $14.87.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, June 14th. First Horizon’s dividend payout ratio is currently 41.96%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FHN. Stephens began coverage on shares of First Horizon in a research report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Raymond James downgraded 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. Wells Fargo & Company upped their price target on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Barclays increased their price objective on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Wedbush restated an “outperform” rating and set a $17.00 target price on shares of First Horizon in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average price target of $17.31.

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.