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

First Horizon (NYSE:FHN - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $825.11 million. During the same period in the previous year, the firm posted $0.35 EPS.

First Horizon Stock Performance

NYSE FHN traded down $0.21 during midday trading on Friday, hitting $17.07. The company had a trading volume of 7,317,860 shares, compared to its average volume of 6,321,128. The firm has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $19.50. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon has a fifty-two week low of $14.09 and a fifty-two week high of $22.44.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Analysts Set New Price Targets

Several brokerages have commented on FHN. Barclays decreased their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup raised their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Bank of America upped their target price on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

About First Horizon

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.