FHN). The Company announced its financial results for the first quarter fiscal 2017 (Q1 FY17) on April 13, 2017. The Memphis, Tennessee-based bank's quarterly diluted EPS surged 15% y-o-y, meeting market consensus estimates. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of First Horizon National's competitors within the Regional - Southeast Banks space, BancorpSouth, Inc. (NYSE: BXS), released its Q1 2017 earnings on Wednesday, April 19, after the close of the financial markets. AWS will be initiating a research report on BancorpSouth in the coming days.

Today, AWS is promoting its earnings coverage on FHN; touching on BXS Get our free coverage by signing up to: http://www.activewallst.com/register/.

Earnings Reviewed

During the quarter ended on March 31 2017, First Horizon National's total revenues came in at $306.65 million compared to $306.38 million in the year ago same quarter. The Wall Street had expected the Company to report total revenues of $325.1 million for Q1 FY17.

In Q1 FY17, First Horizon National's net interest income stood at $189.71 million versus $172.07 million in Q1 FY16. The Company attributed growth in net interest income to higher short-term rates and loan growth. However, total non-interest income fell to $116.90 million in Q1 FY17 from $132.73 million in the prior year's same quarter. Additionally, the Company reported total non-interest expense of $222.21 million in Q1 FY17, which was 2% below the $226.93 million reported in the year ago comparable period.

The regional bank reported net income available to common shareholders of $54.02 million, or $0.23 per diluted share, in Q1 FY17, which came in above $47.81 million, or $0.20 per diluted share, in Q1 FY16. The quarterly net income numbers met analysts' expectations of $0.23 per diluted share.

During Q1 FY17, First Horizon National reported total average loans, net of unearned income of $19.09 billion, up 9%, from $17.57 billion in Q1 FY16. The bank's total average deposits also grew 16% to $23.48 billion in Q1 FY 17 from $20.33 billion in Q1 FY16.

Performance Metrics

In Q1 FY17, First Horizon National's return on average assets came in at 0.82% compared to 0.79% in the previous year's comparable period. The Company's return on average common equity was also up to 9.40% in Q1 FY17 from 8.53% reported in the year ago same quarter. Further, the bank's efficiency ratio was 72.47% in Q1 FY17, compared to 74.45% in Q1 FY16.

First Horizon National's net interest margin for the reported quarter improved to 2.92% from 2.88% in Q1 FY16. Net interest spread for Q1 FY17 came in at 2.77% compared to 2.74% in prior year's same quarter. In Q1 FY17, total earning assets grew 10% to $27.29 billion from $25.14 billion in last year's comparable quarter. Furthermore, the Company reported loan yield of 3.78% in Q1 FY17 versus 3.57% in Q1 FY16.

As on March 31 2017, the bank's common equity tier 1 ratio was 10.15% compared with 10.33% as on March 31 2016. During Q1 FY17, non-performing assets fell to $161.28 million, or 0.80% of total loans, from $219.61 million, or 1.20% of total loans in Q1 FY16. The Company reported allowances for loan losses of $201.97 million, or 1.06% of period end loans, compared to $204.03 million, or 1.16% of period end loans, in Q1 FY16.

Segment Performance

For the reported period, regional banking revenues grew 9% y-o-y to $252.37 million from $231.59 million in the prior year's same quarter. The segment saw 12% y-o-y growth in net interest income, while non-interest income was down by 1% y-o-y during the reported quarter. Additionally, the segment's net income surged 40% y-o-y to $64.58 million.

Fixed Income segment's total revenue fell 26% y-o-y to $51.97 million. During the quarter, net interest income declined 57% y-o-y, and non-interest income was down by 24% y-o-y. Furthermore, the segment recorded net income of $2.26 million in Q1 FY17 compared to $7.27 million in Q1 FY16.

In Q1 FY17, the Corporate segment's revenue outflow was $8.62 million compared to a revenue outflow of $8.64 million in the year ago corresponding quarter. Moreover, the segment reported net loss of $12.41 million in Q1 FY17 compared to net loss of $10.86 in Q1 FY16.

Non-Strategic business segment reported total revenue of $10.93 million in Q1 FY17 compared to $13.64 million in Q1 FY16. The segment's net income also declined to $3.96 million in Q1 FY17 from $9.78 million in Q1 FY16.

Stock Performance

At the closing bell, on Thursday, April 20, 2017, First Horizon National's stock rose 1.55%, ending the trading session at $18.37. A total volume of 2.01 million shares were traded at the end of the day. In the last six months and previous twelve months, shares of the Company have soared 25.71% and 28.84%, respectively. The Company's shares are trading at a PE ratio of 19.04 and have a dividend yield of 1.96%. At Thursday's closing price, the stock's net capitalization stands at $4.29 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 460231

"/> Post Earnings Coverage as First Horizon National Q1 Bottom-line Met Expectations « MarketersMedia – Press Release Distribution Services – News Release Distribution Services

Post Earnings Coverage as First Horizon National Q1 Bottom-line Met Expectations

Upcoming AWS Coverage on BancorpSouth Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 21, 2017 / Active Wall St. announces its post-earnings coverage on First Horizon National Corp. (NYSE: FHN). The Company announced its financial results for the first quarter fiscal 2017 (Q1 FY17) on April 13, 2017. The Memphis, Tennessee-based bank's quarterly diluted EPS surged 15% y-o-y, meeting market consensus estimates. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of First Horizon National's competitors within the Regional - Southeast Banks space, BancorpSouth, Inc. (NYSE: BXS), released its Q1 2017 earnings on Wednesday, April 19, after the close of the financial markets. AWS will be initiating a research report on BancorpSouth in the coming days.

Today, AWS is promoting its earnings coverage on FHN; touching on BXS Get our free coverage by signing up to: http://www.activewallst.com/register/.

Earnings Reviewed

During the quarter ended on March 31 2017, First Horizon National's total revenues came in at $306.65 million compared to $306.38 million in the year ago same quarter. The Wall Street had expected the Company to report total revenues of $325.1 million for Q1 FY17.

In Q1 FY17, First Horizon National's net interest income stood at $189.71 million versus $172.07 million in Q1 FY16. The Company attributed growth in net interest income to higher short-term rates and loan growth. However, total non-interest income fell to $116.90 million in Q1 FY17 from $132.73 million in the prior year's same quarter. Additionally, the Company reported total non-interest expense of $222.21 million in Q1 FY17, which was 2% below the $226.93 million reported in the year ago comparable period.

The regional bank reported net income available to common shareholders of $54.02 million, or $0.23 per diluted share, in Q1 FY17, which came in above $47.81 million, or $0.20 per diluted share, in Q1 FY16. The quarterly net income numbers met analysts' expectations of $0.23 per diluted share.

During Q1 FY17, First Horizon National reported total average loans, net of unearned income of $19.09 billion, up 9%, from $17.57 billion in Q1 FY16. The bank's total average deposits also grew 16% to $23.48 billion in Q1 FY 17 from $20.33 billion in Q1 FY16.

Performance Metrics

In Q1 FY17, First Horizon National's return on average assets came in at 0.82% compared to 0.79% in the previous year's comparable period. The Company's return on average common equity was also up to 9.40% in Q1 FY17 from 8.53% reported in the year ago same quarter. Further, the bank's efficiency ratio was 72.47% in Q1 FY17, compared to 74.45% in Q1 FY16.

First Horizon National's net interest margin for the reported quarter improved to 2.92% from 2.88% in Q1 FY16. Net interest spread for Q1 FY17 came in at 2.77% compared to 2.74% in prior year's same quarter. In Q1 FY17, total earning assets grew 10% to $27.29 billion from $25.14 billion in last year's comparable quarter. Furthermore, the Company reported loan yield of 3.78% in Q1 FY17 versus 3.57% in Q1 FY16.

As on March 31 2017, the bank's common equity tier 1 ratio was 10.15% compared with 10.33% as on March 31 2016. During Q1 FY17, non-performing assets fell to $161.28 million, or 0.80% of total loans, from $219.61 million, or 1.20% of total loans in Q1 FY16. The Company reported allowances for loan losses of $201.97 million, or 1.06% of period end loans, compared to $204.03 million, or 1.16% of period end loans, in Q1 FY16.

Segment Performance

For the reported period, regional banking revenues grew 9% y-o-y to $252.37 million from $231.59 million in the prior year's same quarter. The segment saw 12% y-o-y growth in net interest income, while non-interest income was down by 1% y-o-y during the reported quarter. Additionally, the segment's net income surged 40% y-o-y to $64.58 million.

Fixed Income segment's total revenue fell 26% y-o-y to $51.97 million. During the quarter, net interest income declined 57% y-o-y, and non-interest income was down by 24% y-o-y. Furthermore, the segment recorded net income of $2.26 million in Q1 FY17 compared to $7.27 million in Q1 FY16.

In Q1 FY17, the Corporate segment's revenue outflow was $8.62 million compared to a revenue outflow of $8.64 million in the year ago corresponding quarter. Moreover, the segment reported net loss of $12.41 million in Q1 FY17 compared to net loss of $10.86 in Q1 FY16.

Non-Strategic business segment reported total revenue of $10.93 million in Q1 FY17 compared to $13.64 million in Q1 FY16. The segment's net income also declined to $3.96 million in Q1 FY17 from $9.78 million in Q1 FY16.

Stock Performance

At the closing bell, on Thursday, April 20, 2017, First Horizon National's stock rose 1.55%, ending the trading session at $18.37. A total volume of 2.01 million shares were traded at the end of the day. In the last six months and previous twelve months, shares of the Company have soared 25.71% and 28.84%, respectively. The Company's shares are trading at a PE ratio of 19.04 and have a dividend yield of 1.96%. At Thursday's closing price, the stock's net capitalization stands at $4.29 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 460231

Upcoming AWS Coverage on BancorpSouth Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 21, 2017 / Active Wall St. announces its post-earnings coverage on First Horizon National Corp. (NYSE: FHN). The Company announced its financial results for the first quarter fiscal 2017 (Q1 FY17) on April 13, 2017. The Memphis, Tennessee-based bank's quarterly diluted EPS surged 15% y-o-y, meeting market consensus estimates. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of First Horizon National's competitors within the Regional - Southeast Banks space, BancorpSouth, Inc. (NYSE: BXS), released its Q1 2017 earnings on Wednesday, April 19, after the close of the financial markets. AWS will be initiating a research report on BancorpSouth in the coming days.

Today, AWS is promoting its earnings coverage on FHN; touching on BXS Get our free coverage by signing up to: http://www.activewallst.com/register/.

Earnings Reviewed

During the quarter ended on March 31 2017, First Horizon National's total revenues came in at $306.65 million compared to $306.38 million in the year ago same quarter. The Wall Street had expected the Company to report total revenues of $325.1 million for Q1 FY17.

In Q1 FY17, First Horizon National's net interest income stood at $189.71 million versus $172.07 million in Q1 FY16. The Company attributed growth in net interest income to higher short-term rates and loan growth. However, total non-interest income fell to $116.90 million in Q1 FY17 from $132.73 million in the prior year's same quarter. Additionally, the Company reported total non-interest expense of $222.21 million in Q1 FY17, which was 2% below the $226.93 million reported in the year ago comparable period.

The regional bank reported net income available to common shareholders of $54.02 million, or $0.23 per diluted share, in Q1 FY17, which came in above $47.81 million, or $0.20 per diluted share, in Q1 FY16. The quarterly net income numbers met analysts' expectations of $0.23 per diluted share.

During Q1 FY17, First Horizon National reported total average loans, net of unearned income of $19.09 billion, up 9%, from $17.57 billion in Q1 FY16. The bank's total average deposits also grew 16% to $23.48 billion in Q1 FY 17 from $20.33 billion in Q1 FY16.

Performance Metrics

In Q1 FY17, First Horizon National's return on average assets came in at 0.82% compared to 0.79% in the previous year's comparable period. The Company's return on average common equity was also up to 9.40% in Q1 FY17 from 8.53% reported in the year ago same quarter. Further, the bank's efficiency ratio was 72.47% in Q1 FY17, compared to 74.45% in Q1 FY16.

First Horizon National's net interest margin for the reported quarter improved to 2.92% from 2.88% in Q1 FY16. Net interest spread for Q1 FY17 came in at 2.77% compared to 2.74% in prior year's same quarter. In Q1 FY17, total earning assets grew 10% to $27.29 billion from $25.14 billion in last year's comparable quarter. Furthermore, the Company reported loan yield of 3.78% in Q1 FY17 versus 3.57% in Q1 FY16.

As on March 31 2017, the bank's common equity tier 1 ratio was 10.15% compared with 10.33% as on March 31 2016. During Q1 FY17, non-performing assets fell to $161.28 million, or 0.80% of total loans, from $219.61 million, or 1.20% of total loans in Q1 FY16. The Company reported allowances for loan losses of $201.97 million, or 1.06% of period end loans, compared to $204.03 million, or 1.16% of period end loans, in Q1 FY16.

Segment Performance

For the reported period, regional banking revenues grew 9% y-o-y to $252.37 million from $231.59 million in the prior year's same quarter. The segment saw 12% y-o-y growth in net interest income, while non-interest income was down by 1% y-o-y during the reported quarter. Additionally, the segment's net income surged 40% y-o-y to $64.58 million.

Fixed Income segment's total revenue fell 26% y-o-y to $51.97 million. During the quarter, net interest income declined 57% y-o-y, and non-interest income was down by 24% y-o-y. Furthermore, the segment recorded net income of $2.26 million in Q1 FY17 compared to $7.27 million in Q1 FY16.

In Q1 FY17, the Corporate segment's revenue outflow was $8.62 million compared to a revenue outflow of $8.64 million in the year ago corresponding quarter. Moreover, the segment reported net loss of $12.41 million in Q1 FY17 compared to net loss of $10.86 in Q1 FY16.

Non-Strategic business segment reported total revenue of $10.93 million in Q1 FY17 compared to $13.64 million in Q1 FY16. The segment's net income also declined to $3.96 million in Q1 FY17 from $9.78 million in Q1 FY16.

Stock Performance

At the closing bell, on Thursday, April 20, 2017, First Horizon National's stock rose 1.55%, ending the trading session at $18.37. A total volume of 2.01 million shares were traded at the end of the day. In the last six months and previous twelve months, shares of the Company have soared 25.71% and 28.84%, respectively. The Company's shares are trading at a PE ratio of 19.04 and have a dividend yield of 1.96%. At Thursday's closing price, the stock's net capitalization stands at $4.29 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 460231

Source URL: https://marketersmedia.com/post-earnings-coverage-as-first-horizon-national-q1-bottom-line-met-expectations/189144

Source: AccessWire

Release ID: 189144


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