First Horizon Posts Solid Q2 Results

First Horizon Posts Solid Q2 Results

Shares of Tennessee-based financial holding firm First Horizon (FHN) closed 5.5% lower on Friday despite its robust financial results for the second quarter. The company offers trading, insurance, wealth management and banking services.

Total revenue increased 53% year-over-year to $781 million, beating the Street's estimates of $771 million. (See First Horizon stock chart on TipRanks)

Adjusted earnings per share (EPS) totaled $0.58, up from $0.20 in the second quarter last year. The EPS also beat analysts' expectations of $0.43.