First Horizon Corporation (NYSE:FHN) to Issue Quarterly Dividend of $0.17

First Horizon Corporation (NYSE:FHN) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, September 11th will be paid a dividend of 0.17 per share by the financial services provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, September 11th.

First Horizon has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 29.1%.

First Horizon Price Performance

FHN traded down $0.38 during midday trading on Wednesday, hitting $25.64. The company had a trading volume of 75,161 shares, compared to its average volume of 5,448,181. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56. The firm’s 50-day simple moving average is $25.02 and its 200-day simple moving average is $24.34. The company has a market capitalization of $12.17 billion, a PE ratio of 12.28, a P/E/G ratio of 1.01 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities research analysts predict that First Horizon will post 2.15 EPS for the current fiscal year.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.