Sean Pavone/iStock via Getty Images
First Horizon (NYSE:FHN) forms one of the high-profile tickers of the March 2023 banking panic. The Memphis, Tennessee-based financial holding company is down 50% since the start of the year with continued fears around the health of US regional banking keeping the bulls away and maintaining pressure on common shares that are now trading hands at a 7.77x forward price to earnings multiple. This is around 30% lower than its 5-year average multiple of 11.1x and around 12% lower than its peer group median. In view of shareholders here is the maintenance of a dividend payout that has been pushed to its highest level since the 2020 pandemic crash. Crucially, with the commons still trading at such a marked discount to their historical trend, the banking crisis is yet to come to a concrete end.
Data by YCharts
First Horizon last declared a quarterly cash dividend of $0.15 per share, in line with its…
