First Horizon National Corporation (NYSE:FHN) declared a quarterly dividend on Tuesday, January 23rd, RTT News reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.12 per share by the financial services provider on Monday, April 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09.
First Horizon National has increased its dividend payment by an average of 19.3% per year over the last three years and has raised its dividend every year for the last 2 years. First Horizon National has a dividend payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon National to earn $1.68 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 21.4%.
Shares of First Horizon National (FHN) traded up $0.01 during trading hours on Tuesday, hitting $20.11. The stock had a trading volume of 4,407,993 shares, compared to its average volume of 3,929,164. The firm has a market cap of $6,540.00, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90. First Horizon National has a 12 month low of $15.84 and a 12 month high of $20.86.
A number of brokerages have recently issued reports on FHN. Hovde Group boosted their price objective on First Horizon National from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Zacks Investment Research raised First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, January 9th. Barclays reaffirmed an “equal weight” rating and set a $21.00 price target on shares of First Horizon National in a research note on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 price target on shares of First Horizon National in a research note on Tuesday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $19.50 price target on shares of First Horizon National in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. First Horizon National has a consensus rating of “Buy” and an average target price of $22.11.
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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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