First Horizon Corporation (FHN)

First Horizon Corporation (FHN) dropped by 5.54% from $11.19 to $10.57 in the trading on Friday October 20, 2023. The reason why FHN stock down today is due to the drop in Q3 FY23 results.

• Net income of $129 million, or $0.23 per share, a decrease from the Q2 2023 net income of $317 million, or $0.56 per share.
• Total revenue of $778 million, a decrease of $253 million from the previous quarter, primarily due to a decline in noninterest income, which dropped to $173 million from $400 million in Q2 2023.
• Net interest income decreased by $26 million to $605 million