Entering text into the input field will update the search result below

First Horizon says merger economics better than expected

Jun. 12, 2018 10:56 AM ETFirst Horizon Corporation (FHN) StockFHNBy: Liz Kiesche, SA News Editor
  • First Horizon National (FHN +0.6%) says its Capital Bank acquisition is generating better economics than originally expected, according to slides from FHN's presentation at the Morgan Stanley Financial Conference.
  • FHN now sees the acquisition increasing 2018 EPS by 17% instead of the 8% it had originally expected. Furthermore, it now foresees cost savings of $85M vs $65M in its original announcement.
  • Some of the expected improvement though comes from tax reform and the economic outlook: FHN tax rate assumption now at about 23% vs 35%; and Fed funds rate expectations are now 2.75% by Q4 of 2019 vs 2.00%.
  • Previously: First Horizon National beats by $0.03, misses on revenue (April 13)

Recommended For You

More Trending News

About FHN Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
FHN--
First Horizon Corporation