In the current quarter the company had announced total earnings $309.3 million, which is below the $337 million it earned last year. Research firms believe the company will earn income of f $307.14 million for the three month period. In the income shown during this period, there was an incorporation of net interest income of $158.8 million, which is below the $173.4 million it earned last year. Non-interest earnings reduced to $150.5 million, from the previous year’s $163.5 million. Earnings from non-interest expense increased to $433.5 million, compared to last years $263.1 million. The companies banking division First Tennessee, was ranked with the number one market share in Tennessee. The company also announced that it was slowly getting out of the mortgage business it hawked in 2008.
Researchers at Credit Suisse following the announcement have reduced the prices of the companies share from $13.00 to $12.50. Credit Suisse has ranked the share “outperform” . Other research firms have also spoken about the company, while Sandler O’Neill has lowered the share rating from a “buy” rating to a “hold and have issued a price band $12, while in another unrelated move JPMorgan Chase & Co. have lowered the company shares from an “overweight” rating to a “neutral” rating and have set a price band of $11.50 per share.
