LONDON, UK / ACCESSWIRE / October 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on First Horizon National Corp. (NYSE: FHN) ("First Horizon"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FHN, following the Company's reporting of its financial results on October 13, 2017, for the third quarter of the fiscal year 2017. The Company's adjusted revenue increased 2% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FHN. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=FHN.

Earnings Reviewed

During Q3 FY17, First Horizon's revenue decreased 3% to $322.23 million from $333.74 million in Q3 FY16. For the reported quarter, the Company's adjusted revenue increased 2% to $337.0 million from $329.0 million in the same period of last year. The revenue was below analysts' expectations of $340.5 million.

During Q3 FY17, First Horizon's interest income increased 20% to $248.15 million from $206.97 million in Q3 FY16. During Q3 FY17, the Company's net interest income increased 13% to $209.82 million from $185.20 million in Q3 FY16.

During Q3 FY17, First Horizon's total non-interest income decreased 24% to $112.42 million from $148.55 million in the same period of last year. For the reported quarter, the Company's total non-interest expenses increased 1% to $236.87 million from $233.56 million in Q3 FY16. For the reported quarter, the Company's total adjusted non-interest expenses decreased 5% to $221 million from $233 million in Q3 FY16.

During Q3 FY17, First Horizon's net income increased 7% to $67.34 million on a y-o-y basis from $63.20 million in Q3 FY16. For the reported quarter, the Company's adjusted net income increased 23% to $74 million on a y-o-y basis from $61 million in Q3 FY16. During Q3 FY17, First Horizon's diluted earnings per share (EPS) increased 4% to $0.28 on a y-o-y basis from $0.27 in the same period of last year. For the reported quarter, the Company's adjusted diluted EPS increased 22% to $0.32 on a y-o-y basis from $0.26 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.30.

Segment Details

Regional Banking - During Q3 FY17, First Horizon's Regional Banking segment's total revenue increased 7% to $273.69 million from $255.64 million in Q3 FY16. For the reported quarter, the segment's net income increased 13% to $73.41 million from $65.02 million in Q3 FY16.

Fixed Income - During Q3 FY17, First Horizon's Fixed Income segment's total revenue decreased 17% to $61.78 million from $74.48 million in Q3 FY16. For the reported quarter, the segment's net income decreased 40% to $5.70 million from $9.54 million in Q3 FY16.

Corporate - During Q3 FY17, First Horizon's Corporate segment's total revenue was negative $23.47 million compared to negative $13.06 million in Q3 FY16. For the reported quarter, the segment's net loss was $13.15 million compared to a net loss of $11.25 million in Q3 FY16.

Non-Strategic - During Q3 FY17, First Horizon's Non-Strategic segment's total revenue decreased 39% to $10.23 million from $16.68 million in Q3 FY16. For the reported quarter, the segment's net income increased 34% to $5.81 million from $4.33 million in Q3 FY16.

Asset Quality

During Q3 FY17, First Horizon's total non-performing assets decreased 19% to $140.18 million from $173.52 million in the same period of last year.

For the reported quarter, the Company's net charge-offs increased 6% to $2.39 million from $2.25 million in Q3 FY16.

Balance Sheet

During Q3 FY17, First Horizon's total loans, net of unearned income, increased 6% to $19.84 billion from $18.68 billion in Q3 FY16.
During Q3 FY17, the Company's total investment securities decreased 2% to $3.96 billion from $4.05 billion in Q3 FY16. For the reported quarter, First Horizon's total earning assets decreased 18% to $1.09 billion from $1.33 billion in Q3 FY16. For the reported quarter, the Company's total assets increased 5% to $28.87 billion from $27.61 billion in Q3 FY16.

During Q3 FY17, First Horizon's return on average assets ratio was 0.99% compared to 0.97% in Q3 FY16. For the reported quarter, the Company's efficiency ratio was 73.51% compared to 69.94% in Q3 FY16. During Q3 FY17, the Company's adjusted efficiency ratio was 66% compared to 71% in the same period of last year.

For the reported quarter, First Horizon's common equity tier 1 ratio was 10.03% compared to 9.81% in Q3 FY16. During Q3 FY17, the Company's tier 1 ratio was 11.19% compared to 11.03% in the same period of last year.

Stock Performance

First Horizon National's share price finished last Friday's trading session at $18.92, marginally advancing 0.58%. A total volume of 5.72 million shares have exchanged hands, which was higher than the 3-month average volume of 2.92 million shares. The Company's stock price surged 6.83% in the last three months, 5.40% in the past six months, and 25.63% in the previous twelve months. Shares of the Company have a PE ratio of 17.09 and have a dividend yield of 1.90%. The stock currently has a market cap of $4.40 billion.

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