First Horizon Shares Fall 10% Despite Earnings Beat

(RTTNews) - First Horizon Corp. (FHN) shares dropped 10.27 percent to $20.66, down $2.36 on Wednesday, even after reporting second-quarter results that surpassed analyst expectations. The company posted net income of $254 million, or $0.50 per share, compared with $213 million, or $0.40 per share, a year earlier. Revenue rose 7.4 percent to $889 million from $828 million last year.

The stock traded between $19.99 and $23.70 during the session, compared with a previous close of $23.02 on the New York Stock Exchange. Trading volume spiked to 46.37 million shares, well above the average of 11.49 million.

Over the past 52 weeks, First Horizon shares have traded between $15.19 and $23.70.