$0.30 EPS Expected for First Horizon National Corp (FHN) This Quarter

Equities analysts predict that First Horizon National Corp (NYSE:FHN) will announce earnings of $0.30 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for First Horizon National’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.32. First Horizon National posted earnings of $0.23 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.4%. The firm is expected to issue its next quarterly earnings report on Thursday, April 12th.

According to Zacks, analysts expect that First Horizon National will report full year earnings of $1.42 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.45. For the next year, analysts anticipate that the business will post earnings of $1.69 per share, with EPS estimates ranging from $1.60 to $1.78. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for First Horizon National.

First Horizon National (NYSE:FHN) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. First Horizon National had a return on equity of 8.80% and a net margin of 11.18%. The company had revenue of $375.30 million for the quarter, compared to analyst estimates of $368.93 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year.

Several brokerages recently commented on FHN. Hovde Group upped their target price on First Horizon National from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, October 16th. Barclays restated an “equal weight” rating and set a $21.00 target price on shares of First Horizon National in a research report on Monday, December 4th. Zacks Investment Research upgraded First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, January 9th. Raymond James Financial upgraded First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, November 8th. Finally, UBS Group upgraded First Horizon National from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. First Horizon National has an average rating of “Buy” and a consensus target price of $22.11.

Shares of First Horizon National (FHN) opened at $18.69 on Friday. First Horizon National has a 52-week low of $15.84 and a 52-week high of $20.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market capitalization of $6,381.15, a PE ratio of 27.09, a P/E/G ratio of 1.97 and a beta of 0.98.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.12 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.48 annualized dividend and a yield of 2.57%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s dividend payout ratio is presently 52.17%.

First Horizon National declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other First Horizon National news, Director Peter N. Foss sold 30,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $20.32, for a total value of $609,600.00. Following the transaction, the director now owns 56,220 shares in the company, valued at $1,142,390.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.09% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of FHN. Teachers Advisors LLC raised its stake in shares of First Horizon National by 10.6% in the second quarter. Teachers Advisors LLC now owns 268,632 shares of the financial services provider’s stock worth $4,680,000 after purchasing an additional 25,668 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of First Horizon National by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 286 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of First Horizon National by 12.1% in the second quarter. UBS Asset Management Americas Inc. now owns 191,480 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 20,724 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of First Horizon National in the second quarter worth approximately $421,000. Finally, Tudor Investment Corp ET AL raised its stake in shares of First Horizon National by 136.1% in the second quarter. Tudor Investment Corp ET AL now owns 24,087 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 13,887 shares during the last quarter. 64.30% 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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Earnings History and Estimates for First Horizon National (NYSE:FHN)

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