First Horizon (NYSE:FHN) Announces Earnings Results

First Horizon (NYSE:FHN - Get Free Report) released its earnings results on Wednesday. The financial services provider reported $0.42 EPS 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 the consensus estimate of $821.63 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter last year, the company earned $0.27 earnings per share.

First Horizon Trading Up 0.3 %

First Horizon stock traded up $0.04 during trading on Thursday, hitting $17.44. The company's stock had a trading volume of 9,544,255 shares, compared to its average volume of 6,599,353. The stock's fifty day moving average is $15.83 and its 200 day moving average is $15.56. First Horizon has a 1-year low of $10.16 and a 1-year high of $17.68. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon's dividend payout ratio (DPR) is 41.96%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of First Horizon from $18.50 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on First Horizon from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, July 3rd. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a report on Saturday, July 20th. Robert W. Baird restated a "neutral" rating and issued a $16.00 price target on shares of First Horizon in a research report on Tuesday, August 6th. Finally, Stephens boosted their price objective on shares of First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.69.

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.