First Horizon National Co. Expected to Earn FY2018 Earnings of $1.43 Per Share (FHN)

First Horizon National Co. (NYSE:FHN) – Stock analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of First Horizon National in a note issued to investors on Wednesday, April 4th. Jefferies Group analyst C. Haire now forecasts that the financial services provider will earn $1.43 per share for the year, up from their previous forecast of $1.38. Jefferies Group also issued estimates for First Horizon National’s FY2019 earnings at $1.69 EPS.

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First Horizon National (NYSE:FHN) last released its earnings results on Friday, January 19th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. First Horizon National had a return on equity of 8.80% and a net margin of 11.18%. The business had revenue of $375.30 million for the quarter, compared to analyst estimates of $368.93 million. During the same quarter last year, the firm posted $0.23 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year.

Other analysts have also issued research reports about the company. Barclays upgraded First Horizon National from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research note on Friday, February 9th. Wells Fargo upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Thursday. Morgan Stanley increased their target price on First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Vining Sparks upgraded First Horizon National to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, January 8th. Finally, Hovde Group set a $22.00 target price on First Horizon National and gave the stock a “hold” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. First Horizon National presently has a consensus rating of “Hold” and an average target price of $22.27.

FHN stock opened at $18.57 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.86. The firm has a market capitalization of $6,275.20, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99.

First Horizon National announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.58%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s dividend payout ratio (DPR) is currently 43.24%.

In other news, Director Peter N. Foss sold 30,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $20.32, for a total transaction of $609,600.00. Following the transaction, the director now owns 56,220 shares in the company, valued at $1,142,390.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael E. Kisber sold 160,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $20.00, for a total value of $3,200,000.00. Following the transaction, the insider now owns 568,904 shares in the company, valued at approximately $11,378,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,096 shares of company stock worth $5,156,207. Insiders own 1.75% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Oak Hill Capital Management LLC bought a new stake in First Horizon National during the fourth quarter valued at about $107,835,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Horizon National by 54.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,361 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 5,073 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in First Horizon National during the fourth quarter valued at about $1,600,000. First Interstate Bank bought a new stake in First Horizon National during the fourth quarter valued at about $103,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in First Horizon National by 2.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,733,922 shares of the financial services provider’s stock valued at $34,661,000 after purchasing an additional 33,639 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors.

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First Horizon National Company Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Earnings History and Estimates for First Horizon National (NYSE:FHN)

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