First Horizon National Corporation (FHN) to Issue Dividend Increase – $0.12 Per Share

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.

First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $375.30 million for the quarter, compared to the consensus estimate of $368.93 million. First Horizon National had a return on equity of 8.80% and a net margin of 11.18%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS. research analysts predict that First Horizon National will post 1.42 EPS for the current fiscal year.

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.

Dividend History for First Horizon National (NYSE:FHN)

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