We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
First Horizon (FHN) Reports Q1 Earnings: What Key Metrics Have to Say (Revised)
Read MoreHide Full Article
First Horizon National (FHN - Free Report) reported $819 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.7%. EPS of $0.35 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $807.94 million. With the consensus EPS estimate being $0.34, the EPS surprise was +2.94%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Horizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 62.9% versus the five-analyst average estimate of 60.8%.
Net Interest Margin (FTE): 3.4% versus the five-analyst average estimate of 3.3%.
Average Balance - Total interest earning assets: $74.78 billion versus $75.18 billion estimated by four analysts on average.
Net charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on three analysts.
Total nonperforming loans and leases: $505 million versus $480.05 million estimated by two analysts on average.
Total Non-Interest Income: $194 million versus the five-analyst average estimate of $182.18 million.
Net Interest Income: $625 million versus the five-analyst average estimate of $623.01 million.
Net interest income (FTE): $628 million versus the four-analyst average estimate of $627.80 million.
Mortgage banking and title: $9 million compared to the $5.92 million average estimate based on three analysts.
Brokerage, trust, and insurance: $36 million versus the three-analyst average estimate of $36.36 million.
Service charges and fees: $57 million versus $58.94 million estimated by three analysts on average.
Fixed income: $52 million versus $42.54 million estimated by three analysts on average.
Shares of First Horizon have returned -6.9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
First Horizon (FHN) Reports Q1 Earnings: What Key Metrics Have to Say (Revised)
First Horizon National (FHN - Free Report) reported $819 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.7%. EPS of $0.35 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $807.94 million. With the consensus EPS estimate being $0.34, the EPS surprise was +2.94%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Horizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for First Horizon here>>>
Shares of First Horizon have returned -6.9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)