First Horizon National (FHN) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Horizon National (NYSE:FHN) announced its earnings results on Friday. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01, Bloomberg Earnings reports. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The company had revenue of $375.30 million during the quarter, compared to analyst estimates of $368.93 million. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year.

First Horizon National (NYSE FHN) traded down $0.05 during midday trading on Friday, reaching $20.16. 7,389,956 shares of the company’s stock traded hands, compared to its average volume of 2,509,045. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4,733.80, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.86.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.79%. First Horizon National’s payout ratio is 32.14%.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of First Horizon National by 2.3% during the second quarter. Vanguard Group Inc. now owns 19,672,261 shares of the financial services provider’s stock worth $342,691,000 after purchasing an additional 435,264 shares during the period. State Street Corp boosted its holdings in shares of First Horizon National by 6.4% during the second quarter. State Street Corp now owns 14,203,778 shares of the financial services provider’s stock worth $247,425,000 after purchasing an additional 850,609 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of First Horizon National by 2.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 12,296,061 shares of the financial services provider’s stock worth $235,470,000 after purchasing an additional 264,035 shares during the period. Parnassus Investments CA boosted its holdings in shares of First Horizon National by 8.6% during the third quarter. Parnassus Investments CA now owns 5,654,568 shares of the financial services provider’s stock worth $108,285,000 after purchasing an additional 446,174 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of First Horizon National by 13.2% during the third quarter. Schroder Investment Management Group now owns 4,924,091 shares of the financial services provider’s stock worth $93,705,000 after purchasing an additional 575,552 shares during the period. Institutional investors own 88.97% of the company’s stock.

Several research analysts recently issued reports on FHN shares. Hovde Group upped their target price on shares of First Horizon National from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Raymond James Financial upgraded shares of First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research report on Wednesday, November 8th. Royal Bank of Canada restated a “hold” rating and set a $22.00 price target on shares of First Horizon National in a research report on Tuesday, December 5th. Vining Sparks upgraded shares of First Horizon National to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, January 8th. Finally, Barclays restated an “equal weight” rating and set a $21.00 price target on shares of First Horizon National in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price 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.

Earnings History for First Horizon National (NYSE:FHN)

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