First Horizon National Co. (NYSE:FHN) – Analysts at Piper Jaffray issued their Q1 2018 earnings per share estimates for shares of First Horizon National in a research note issued on Monday, April 9th, Zacks Investment Research reports. Piper Jaffray analyst W. Curtiss anticipates that the financial services provider will post earnings of $0.31 per share for the quarter. Piper Jaffray currently has a “Overweight” rating and a $22.00 target price on the stock. Piper Jaffray also issued estimates for First Horizon National’s Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.44 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.70 EPS.
First Horizon National (NYSE:FHN) last released its quarterly earnings data on Friday, April 13th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $437.20 million for the quarter, compared to analysts’ expectations of $438.60 million. First Horizon National had a return on equity of 9.37% and a net margin of 12.30%. The firm’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS.
Other equities analysts have also recently issued reports about the company. UBS started coverage on First Horizon National in a report on Thursday, March 22nd. They set a “buy” rating and a $25.00 price target on the stock. Vining Sparks raised First Horizon National to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, January 8th. Barclays increased their price target on First Horizon National from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Hovde Group set a $22.00 price target on First Horizon National and gave the company a “hold” rating in a report on Monday, January 22nd. Finally, Zacks Investment Research cut First Horizon National from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.17.
FHN stock opened at $18.68 on Wednesday. The company has a market capitalization of $6,206.57, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. First Horizon National has a 12-month low of $15.84 and a 12-month high of $20.86.
Hedge funds have recently modified their holdings of the business. Exane Derivatives purchased a new stake in First Horizon National in the 4th quarter worth $101,000. First Interstate Bank purchased a new stake in First Horizon National in the 4th quarter worth $103,000. Cerebellum GP LLC purchased a new stake in First Horizon National in the 4th quarter worth $124,000. Salem Investment Counselors Inc. purchased a new stake in First Horizon National in the 4th quarter worth $165,000. Finally, Bartlett & Co. LLC purchased a new stake in First Horizon National in the 4th quarter worth $179,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
In other First Horizon National news, Director Peter N. Foss sold 30,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 56,220 shares in the company, valued at approximately $1,142,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Kisber sold 160,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $20.00, for a total value of $3,200,000.00. Following the completion of the sale, the insider now owns 568,904 shares of the company’s stock, valued at approximately $11,378,080. The disclosure for this sale can be found here. Insiders sold a total of 257,096 shares of company stock valued at $5,156,207 over the last 90 days. 1.75% of the stock is currently owned by company insiders.
First Horizon National announced that its Board of Directors has initiated a share buyback program on Tuesday, January 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.57%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, March 8th. First Horizon National’s dividend payout ratio is 43.24%.
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First Horizon National Company Profile
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.
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