First Horizon Corporation (NYSE:FHN) Plans Dividend Increase – $0.17 Per Share

First Horizon Corporation (NYSE:FHN) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.17 per share by the financial services provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, March 13th. This is a 13.3% increase from First Horizon’s previous quarterly dividend of $0.15.

First Horizon has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Analysts expect First Horizon to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 31.4%.

First Horizon Stock Performance

Shares of NYSE FHN traded down $0.03 during mid-day trading on Wednesday, hitting $24.25. The stock had a trading volume of 1,753,795 shares, compared to its average volume of 6,418,349. The firm has a market cap of $11.94 billion, a PE ratio of 12.91, a PEG ratio of 0.92 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50 day moving average of $23.63 and a two-hundred day moving average of $22.57. First Horizon has a twelve month low of $15.19 and a twelve month high of $25.21.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 15th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. First Horizon had a return on equity of 11.21% and a net margin of 19.67%.The company had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. During the same quarter in the previous year, the firm posted $0.43 EPS. Research analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.