First Horizon National (FHN) Releases Quarterly Earnings Results, Misses Expectations By $0.49 EPS
First Horizon National (NYSE:FHN) posted its quarterly earnings data on Friday. The financial services provider reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.49), RTT News reports. The firm had revenue of $375.30 million for the quarter, compared to analyst estimates of $368.93 million. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS.
Shares of First Horizon National (FHN) opened at $20.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market cap of $6,580.00, a P/E ratio of 18.04, a P/E/G ratio of 2.05 and a beta of 1.03. First Horizon National has a fifty-two week low of $15.84 and a fifty-two week high of $20.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Thursday, November 2nd. First Horizon National’s dividend payout ratio is currently 32.14%.
Several research firms have recently weighed in on FHN. Raymond James Financial raised their price objective 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (up previously from $19.50) on shares of First Horizon National in a report on Wednesday, October 4th. UBS Group raised shares of First Horizon National from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, November 8th. Barclays raised their price objective on shares of First Horizon National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of First Horizon National from a “sell” rating to a “hold” rating in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. First Horizon National 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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