First Horizon Posts Q2 EPS of $0.54, Beating Expectations
FHN sits 32% above its 52-week low of $19.8 on elevated volume (1.9× avg).
Summary
First Horizon reported Q2 EPS of $0.54, beating expectations and building on the 29.3% EPS growth seen in Q1. Net interest income remained robust with a 5.7% growth trend, and credit quality held up after a 62.5% reduction in provisions last quarter. The stock trades near its 52-week high of $26.56, with shares at $26.19, and the beat could push it through resistance. The quarter delivered net income available to common shareholders of $260 million, up 12% year-over-year, on revenue of $887 million and FTE net interest income of $679 million. Net interest margin came in at 3.49%.
At the time of this announcement, FHN was trading at $26.19 on NYSE in the Finance sector, with a market capitalization of approximately $12.2B. The 52-week trading range was $19.80 to $26.56. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.