First Horizon National (FHN) Posts Quarterly Earnings Results, Meets Expectations

First Horizon National (NYSE:FHN) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35, RTT News reports. The company had revenue of $435.60 million for the quarter, compared to analyst estimates of $428.95 million. First Horizon National had a net margin of 24.02% and a return on equity of 10.22%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS.

FHN opened at $14.74 on Wednesday. First Horizon National has a fifty-two week low of $12.30 and a fifty-two week high of $19.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.94. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.80%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 14th. First Horizon National’s payout ratio is presently 39.72%.

Several equities research analysts recently issued reports on FHN shares. Zacks Investment Research lowered shares of First Horizon National from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Jefferies Financial Group lowered shares of First Horizon National from a “buy” rating to a “hold” rating in a report on Monday, April 1st. TheStreet raised shares of First Horizon National from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Robert W. Baird started coverage on shares of First Horizon National in a report on Thursday, December 20th. They set a “neutral” rating on the stock. Finally, Bank of America lowered shares of First Horizon National from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $20.00.

A number of institutional investors and hedge funds have recently bought and sold shares of FHN. Private Advisor Group LLC lifted its position in shares of First Horizon National by 4.8% in the 4th quarter. Private Advisor Group LLC now owns 20,197 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 921 shares during the period. ETF Managers Group LLC lifted its position in shares of First Horizon National by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 942 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of First Horizon National by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,875 shares of the financial services provider’s stock worth $1,709,000 after purchasing an additional 1,006 shares during the period. Virginia Retirement Systems ET AL lifted its position in shares of First Horizon National by 2.2% in the 4th quarter. Virginia Retirement Systems ET AL now owns 55,200 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 1,200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of First Horizon National by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,482 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 1,303 shares during the period. 90.27% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.thelincolnianonline.com/2019/04/17/first-horizon-national-fhn-posts-quarterly-earnings-results-meets-expectations.html.

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.

Further Reading: What are the reasons investors use put options?

Earnings History for First Horizon National (NYSE:FHN)

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.