FMP
First Horizon National’s Q4 Results Review
Jan 20, 2023 10:04 AM - Davit Kirakosyan
Image credit: FMP
First Horizon National (NYSE:FHN) reported its Q4 results, with revenue coming in at $882 million, better than the Street estimate of $872.73 million. EPS was $0.51, worse than the Street estimate of $0.52.
Overall core results continue to be solid with strength in spread revenues as the key driver. Both loan growth and margin expansion were decent in this environment and drove net interest income expansion. Deposit balances declined sequentially while deposit costs rose as expected. Despite the deposit cost pressures, the performance of the asset-sensitive balance sheet was strong again this quarter.
Meanwhile, fee revenues declined and were driven by lower fixed-income and mortgage revenues, while brokerage and trust, and service charges were slightly lower.
The company reiterated that they expect TD's acquisition deal to close in the first half of TD’s fiscal 2023. The merger was previously approved by FHN shareholders, with regulatory approval still pending.
Other Blogs
Sep 11, 2023 1:38 PM - Rajnish Katharotiya
P/E Ratios Using Normalized Earnings
Price to Earnings is one of the key metrics use to value companies using multiples. The P/E ratio and other multiples are relative valuation metrics and they cannot be looked at in isolation. One of the problems with the P/E metric is the fact that if we are in the peak of a business cycle, earni...
Sep 11, 2023 1:49 PM - Rajnish Katharotiya
What is Price To Earnings Ratio and How to Calculate it using Python
Price-to-Earnings ratio is a relative valuation tool. It is used by investors to find great companies at low prices. In this post, we will build a Python script to calculate Price Earnings Ratio for comparable companies. Photo by Skitterphoto on Pexels Price Earnings Ratio and Comparable Compa...
Oct 17, 2023 3:09 PM - Davit Kirakosyan
VMware Stock Drops 12% as China May Hold Up the Broadcom Acquisition
Shares of VMware (NYSE:VMW) witnessed a sharp drop of 12% intra-day today due to rising concerns about China's review of the company's significant sale deal to Broadcom. Consequently, Broadcom's shares also saw a dip of around 4%. Even though there aren’t any apparent problems with the proposed solu...
