Brokerages expect First Horizon National Corporation (NYSE:FHN) to report sales of $375.04 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for First Horizon National’s earnings. The highest sales estimate is $421.60 million and the lowest is $339.20 million. First Horizon National posted sales of $319.63 million during the same quarter last year, which suggests a positive year over year growth rate of 17.3%. The company is scheduled to report its next quarterly earnings results on Friday, January 12th.
On average, analysts expect that First Horizon National will report full-year sales of $375.04 million for the current fiscal year, with estimates ranging from $1.31 billion to $1.38 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.82 billion per share, with estimates ranging from $1.77 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow First Horizon National.
First Horizon National (NYSE:FHN) last released its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The firm had revenue of $337.00 million for the quarter, compared to analyst estimates of $340.48 million. During the same period in the prior year, the firm earned $0.27 earnings per share.
A number of equities analysts recently issued reports on FHN shares. BidaskClub raised First Horizon National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. ValuEngine downgraded First Horizon National from a “buy” rating to a “hold” rating in a report on Friday, September 1st. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Horizon National in a report on Wednesday, September 13th. Zacks Investment Research raised First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, September 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.50 price target on shares of First Horizon National in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $21.00.
Shares of First Horizon National (FHN) opened at $20.48 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The firm has a market cap of $4,761.91, a P/E ratio of 19.36, a P/E/G ratio of 2.62 and a beta of 1.03. First Horizon National has a one year low of $15.84 and a one year high of $20.86.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, November 2nd. First Horizon National’s payout ratio is currently 32.14%.
In other news, CFO William C. Losch III sold 45,107 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the completion of the sale, the chief financial officer now directly owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William C. Losch III sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the sale, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The disclosure for this sale can be found here. Insiders sold 54,056 shares of company stock valued at $1,010,022 over the last three months. Corporate insiders own 2.09% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Virginia Retirement Systems ET AL boosted its holdings in shares of First Horizon National by 15.2% in the second quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock valued at $1,840,000 after acquiring an additional 13,900 shares during the period. CNA Financial Corp boosted its holdings in shares of First Horizon National by 11.9% in the second quarter. CNA Financial Corp now owns 64,800 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 6,900 shares during the period. Sei Investments Co. boosted its holdings in shares of First Horizon National by 4.6% in the second quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 2,761 shares during the period. Icon Advisers Inc. Co. acquired a new stake in shares of First Horizon National in the second quarter valued at approximately $620,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of First Horizon National by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock valued at $116,124,000 after acquiring an additional 258,298 shares during the period. 88.97% of the stock is owned by institutional investors and hedge funds.
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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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