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Active-Investors: Free Post Earnings Research Report: First Horizon's Q4 Results Outperformed Market Forecasts

Stock Monitor: Entegra Financial Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 24, 2018 / Active-Investors.com has just released a free earnings report on First Horizon National Corp. (NYSE: FHN) ("First Horizon"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FHN. The Company posted its financial results on January 19, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Memphis, Tennessee-based bank's net interest income and non-interest income grew 24% and 7% year-over-year, respectively. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Entegra Financial Corp. (NASDAQ: ENFC), which also belongs to the Financial sector as the Company First Horizon National. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=ENFC

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, First Horizon National most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=FHN

Earnings Highlights and Summary

In Q4 FY17, First Horizon's total revenues came in at $375.28 million compared to $319.63 million in the year ago same quarter. The Company's total revenue numbers for the reported quarter missed market expectations of $385.2 million. During Q4 FY17, First Horizon's net interest income surged to $242.09 million from $195.55 million in Q4 FY16. Furthermore, total non-interest income rose to $133.05 million in Q4 FY17 from $124.21 million in the prior year's same quarter.

The financial services provider reported a net loss available to common shareholders of $52.84 million, or $0.20 loss per diluted share, in Q4 FY17 versus a net income available to common shareholders $53.29 million, or $0.23 per diluted share, in Q4 FY16. Meanwhile, the Company's adjusted diluted earnings per share (EPS) was $0.30 for the reported quarter, which came in above Wall Street's estimates of $0.29.

First Horizon's total revenues stood at $1.33 billion in FY17, up 4% from $1.28 billion in FY16. The Company reported a net income available to common shareholders of $159.32 million, or $0.65 per diluted share, compared to $220.85 million, or $0.94 per diluted share, in the last year.

Performance Metrics

During Q4 FY17, First Horizon's reported total loans, net of unearned income, stood at $27.66 billion, up 41% from $19.59 billion in Q4 FY16. The Company's total deposits also surged 35% to $30.63 billion y-o-y in Q4 FY 17 from $22.67 billion in Q4 FY16.

In Q4 FY17, First Horizon's return on average assets was negative 0.58% versus positive 0.80% in the previous year's comparable period. The Company's return on average common equity was negative 6.73% in Q4 FY17 compared to a positive return on average common equity of 9.00% reported in the year ago corresponding quarter. Furthermore, the bank's efficiency ratio was 92.41% in Q4 FY17 versus 74.40% in Q4 FY16.

First Horizon's net interest margin improved to 3.27% in Q4 FY17 from 3.00% in Q4 FY16. In Q4 FY17, total assets grew to $41.42 billion from $28.56 billion in the last year's same quarter. The Company reported non-interest expenses of $346.67 million in Q4 FY17, which were above the $237.90 million reported in the year ago comparable period.

At the end of Q4 FY17, the bank's common equity tier 1 ratio was 8.68% compared to 9.94% as on the close of books at the end of Q4 FY16. During Q4 FY17, the Company's total non-performing assets rose to $177.16 million, or $0.61% of total loans, from $164.62 million, or 0.80% of total loans, in Q4 FY16.

The Company's allowance for loan losses were $189.56 million in Q4 FY17, down 6% on a y-o-y basis from $202.07 million in the last year's corresponding period. During the reported quarter, net charge-offs was $8.31 million, or 0.15% of average loans.

Segment Performance

For the reported quarter, the Company's Regional Banking segment's total revenues came in at $314.80 million, up 19% y-o-y from the $264.04 million reported in the prior year's same quarter. Additionally, the segment's net income surged 31% to $82.47 million y-o-y.

First Horizon's Fixed Income segment's revenues grew 12% to $61.15 million y-o-y in Q4 FY17 from $54.60 million in Q4 FY16. Furthermore, the segment reported a net income of $4.03 million in Q4 FY17 compared to $4.00 million in Q4 FY16.

During Q4 FY17, the Company's Corporate segment reported revenues outflow of $9.15 million compared to revenues outflow of $12.83 million in Q4 FY16. Furthermore, the segment posted a net loss of $120.24 million compared to a net loss of $12.34 million in Q4 FY16.

The Company's Non-Strategic segment reported total revenues of $8.48 million in Q4 FY17, which was 39% lower than the $13.82 million recorded in the year ago comparable quarter. The segment reported a net loss of $14.64 million in Q4 FY17 versus a net income of $2.93 million in Q4 FY16.

Stock Performance Snapshot

January 23, 2018 - At Tuesday's closing bell, First Horizon National's stock marginally rose 0.05%, ending the trading session at $20.11.

Volume traded for the day: 4.70 million shares, which was above the 3-month average volume of 4.21 million shares.

Stock performance in the last three-month - up 4.25%; previous six-month period - up 13.42%; past twelve-month period - up 3.98%; and year-to-date - up 0.60%

After yesterday's close, First Horizon National's market cap was at $6.56 billion.

Price to Earnings (P/E) ratio was at 17.92.

The stock has a dividend yield of 1.79%.

The stock is part of the Financial sector, categorized under the Regional - Southeast Banks industry. This sector was up 0.2% at the end of the session.

Active-Investors:

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A-I 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@active-investors.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 A-I. A-I 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.

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A-I, 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. A-I, 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, A-I, 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.

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SOURCE: Active-Investors

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