First Horizon National Corporation (FHN) Announces $0.09 Quarterly Dividend
First Horizon National Corporation (NYSE:FHN) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Friday, November 3rd will be given a dividend of 0.09 per share by the financial services provider on Tuesday, January 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.87%.
First Horizon National Corporation has raised its dividend by an average of 19.1% per year over the last three years. First Horizon National Corporation has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Horizon National Corporation to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 27.5%.
First Horizon National Corporation (NYSE:FHN) traded up 1.16% during mid-day trading on Tuesday, hitting $19.24. The stock had a trading volume of 2,717,607 shares. First Horizon National Corporation has a 52 week low of $14.92 and a 52 week high of $20.84. The stock has a market capitalization of $4.51 billion, a P/E ratio of 17.18 and a beta of 1.05. The company’s 50 day moving average is $18.34 and its 200-day moving average is $17.81.
First Horizon National Corporation (NYSE:FHN) last posted its earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. First Horizon National Corporation had a return on equity of 9.40% and a net margin of 19.36%. The business had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $340.48 million. During the same period in the previous year, the business earned $0.27 earnings per share. On average, analysts expect that First Horizon National Corporation will post $1.13 EPS for the current fiscal year.
In other news, CFO William C. Losch III sold 3,500 shares of First Horizon National Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the completion of the sale, the chief financial officer now owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Brad Martin sold 5,449 shares of First Horizon National Corporation stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $19.25, for a total transaction of $104,893.25. Following the sale, the director now directly owns 482,188 shares of the company’s stock, valued at approximately $9,282,119. The disclosure for this sale can be found here. Insiders have sold 54,056 shares of company stock valued at $1,010,022 in the last 90 days. Company insiders own 2.09% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised First Horizon National Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of First Horizon National Corporation in a research report on Monday, July 3rd. Raymond James Financial, Inc. raised First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target (up previously from $19.50) on shares of First Horizon National Corporation in a research report on Wednesday, October 4th. Finally, UBS AG raised First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. First Horizon National Corporation presently has a consensus rating of “Hold” and a consensus price target of $20.22.
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About First Horizon National Corporation
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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