First Horizon National Corporation (FHN) Expected to Post Quarterly Sales of $375.04 Million
Equities research analysts expect that First Horizon National Corporation (NYSE:FHN) will announce sales of $375.04 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for First Horizon National’s earnings, with the lowest sales estimate coming in at $339.20 million and the highest estimate coming in at $421.60 million. First Horizon National posted sales of $319.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.3%. The firm is scheduled to report its next earnings results on Friday, January 12th.
According to Zacks, analysts expect that First Horizon National will report full-year sales of $375.04 million for the current financial year, with estimates ranging from $1.31 billion to $1.38 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow First Horizon National.
First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The company had revenue of $337.00 million for the quarter, compared to the consensus estimate of $340.48 million. During the same period in the prior year, the firm posted $0.27 EPS.
First Horizon National (NYSE:FHN) opened at $19.86 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The stock has a market cap of $4,651.82, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.56 and a beta of 1.03. First Horizon National has a one year low of $18.68 and a one year high of $45.00.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, November 2nd. First Horizon National’s dividend payout ratio (DPR) is currently 32.14%.
In related news, CFO William C. Losch III sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the transaction, the chief financial officer now directly 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 SEC, which is available at the SEC website. Also, Director R Brad Martin sold 5,449 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 482,188 shares of the company’s stock, valued at $9,282,119. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,056 shares of company stock valued at $1,010,022. Insiders own 2.09% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC grew its holdings in shares of First Horizon National by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 13,800 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 110 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in First Horizon National by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after buying an additional 286 shares during the period. World Asset Management Inc boosted its stake in First Horizon National by 2.2% during the second quarter. World Asset Management Inc now owns 14,781 shares of the financial services provider’s stock worth $257,000 after buying an additional 313 shares during the period. Teacher Retirement System of Texas boosted its stake in First Horizon National by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 18,754 shares of the financial services provider’s stock worth $327,000 after buying an additional 319 shares during the period. Finally, Utah Retirement Systems boosted its stake in First Horizon National by 1.0% during the second quarter. Utah Retirement Systems now owns 42,347 shares of the financial services provider’s stock worth $737,000 after buying an additional 400 shares during the period. 89.03% of the stock is owned by hedge funds and other institutional investors.
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About First Horizon National
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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