First Horizon National (NYSE:FHN) posted its earnings results on Friday. The financial services provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01, Bloomberg Earnings reports. The company had revenue of $375.30 million for the quarter, compared to analyst estimates of $368.93 million. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share.
Shares of First Horizon National (NYSE:FHN) traded down $0.05 during trading hours on Friday, hitting $20.16. 7,389,827 shares of the company were exchanged, compared to its average volume of 2,509,045. First Horizon National has a fifty-two week low of $15.84 and a fifty-two week high of $20.86. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4,722.08, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.79%. First Horizon National’s payout ratio is 52.17%.
Several equities research analysts have weighed in on FHN shares. Morgan Stanley reiterated an “equal weight” rating and issued a $19.50 target price on shares of First Horizon National in a report on Wednesday, September 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of First Horizon National from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Hovde Group increased their target price on shares of First Horizon National from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Finally, Raymond James Financial increased their target price on shares of First Horizon National from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.00.
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First Horizon National Company Profile
First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.
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