First Horizon (NYSE:FHN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

First Horizon (NYSE:FHN - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02, RTT News reports. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same quarter last year, the company earned $0.35 EPS.

First Horizon Trading Down 2.9 %

Shares of First Horizon stock traded down $0.49 during midday trading on Monday, reaching $16.61. 1,584,231 shares of the company's stock traded hands, compared to its average volume of 6,307,372. The stock has a 50 day moving average of $19.22 and a 200-day moving average of $19.56. First Horizon has a 12 month low of $14.09 and a 12 month high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $8.54 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.61%. First Horizon's payout ratio is presently 41.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reduced their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Keefe, Bruyette & Woods decreased their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Bank of America upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, First Horizon presently has an average rating of "Moderate Buy" and a consensus target price of $22.03.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.87% of the company's stock.

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.