$0.30 EPS Expected for First Horizon National Co. (FHN) This Quarter

Wall Street analysts predict that First Horizon National Co. (NYSE:FHN) will announce earnings of $0.30 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for First Horizon National’s earnings, with estimates ranging from $0.24 to $0.32. First Horizon National posted earnings per share of $0.23 during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.4%. The company is scheduled to issue its next earnings results before the market opens on Friday, April 13th.

On average, analysts expect that First Horizon National will report full year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.37 to $1.45. For the next fiscal year, analysts expect that the company will report earnings of $1.70 per share, with EPS estimates ranging from $1.65 to $1.78. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover First Horizon National.

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First Horizon National (NYSE:FHN) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.30 EPS 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 during the quarter, compared to analysts’ expectations of $368.93 million. During the same quarter last year, the company posted $0.23 earnings per share. First Horizon National’s quarterly revenue was up 17.4% on a year-over-year basis.

A number of equities analysts recently commented on FHN shares. Barclays lifted their price target on First Horizon National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. UBS started coverage on First Horizon National in a report on Thursday, March 22nd. They set a “buy” rating and a $25.00 price target for the company. Zacks Investment Research cut First Horizon National from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Hovde Group set a $22.00 price target on First Horizon National and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Vining Sparks upgraded First Horizon National to a “buy” rating and set a $25.00 price target for the company in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $22.27.

First Horizon National stock traded down $0.63 during midday trading on Friday, reaching $18.57. 4,359,497 shares of the company’s stock were exchanged, compared to its average volume of 3,009,012. First Horizon National has a 52 week low of $15.84 and a 52 week high of $20.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. The stock has a market capitalization of $6,069.29, a P/E ratio of 16.73, a PEG ratio of 1.86 and a beta of 0.99.

First Horizon National announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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

In other news, Director Peter N. Foss sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 56,220 shares in the company, valued at $1,142,390.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John M. Daniel sold 22,389 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $19.79, for a total value of $443,078.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,096 shares of company stock valued at $5,156,207. Corporate insiders own 1.75% of the company’s stock.

Large investors have recently modified their holdings of the company. Oak Hill Capital Management LLC bought a new stake in shares of First Horizon National during the fourth quarter worth approximately $107,835,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Horizon National by 54.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,361 shares of the financial services provider’s stock valued at $287,000 after buying an additional 5,073 shares during the period. New Mexico Educational Retirement Board bought a new stake in shares of First Horizon National in the fourth quarter valued at approximately $1,600,000. First Interstate Bank bought a new stake in shares of First Horizon National in the fourth quarter valued at approximately $103,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of First Horizon National by 2.0% in 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 buying an additional 33,639 shares during the period. Institutional investors own 82.92% of the company’s stock.

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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.

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

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