Jim Cramer on First Horizon: “Still a Great Bank to Own”

First Horizon Corporation (NYSE:FHN) was among the stocks Jim Cramer reviewed on Mad Money while discussing the recent market rotation. Cramer commented on the company’s latest quarterly results, as he said:

All the major banks have reported this week, so it’s time to move on to the smaller regional banks that I happen to like a great deal. Take First Horizon, the Memphis-based regional. It’s become one of the largest banks in the southeast. This morning, First Horizon reported a pretty darn solid quarter, 3-cent earnings beat off a 50-cent basis, even as its revenues were okay. But the net interest income, their efficiency ratio, and their return on tangible common equity were all better than expected. Of course, the stock still got dinged in response, but I think that’s because it’s up, what… It’s already up 38% over the past 12 months. It bounced hard off its lows in late March… Still a great bank to own.

Photo by Adam Nowakowski on Unsplash

First Horizon Corporation (NYSE:FHN) is a bank holding company that provides commercial, consumer, and private banking services. It offers wealth management, institutional sales, and specialized lending.

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