First Horizon National Corporation (NYSE:FHN) - Investment analysts at FIG Partners boosted their Q3 2017 earnings per share (EPS) estimates for shares of First Horizon National Corporation in a research report issued on Monday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings of $0.29 per share for the quarter, up from their prior forecast of $0.28. FIG Partners also issued estimates for First Horizon National Corporation’s Q1 2018 earnings at $0.29 EPS.
First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $328.37 million for the quarter, compared to analysts’ expectations of $331.27 million. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share.
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FHN has been the topic of a number of other reports. Deutsche Bank AG reiterated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price target on shares of First Horizon National Corporation in a report on Monday, April 10th. Stephens reiterated a “hold” rating on shares of First Horizon National Corporation in a report on Thursday, May 4th. Zacks Investment Research downgraded First Horizon National Corporation from a “buy” rating to a “hold” rating in a report on Friday, March 24th. Finally, Hovde Group cut their price target on First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.57.
Shares of First Horizon National Corporation (FHN) opened at 17.78 on Wednesday. The stock has a market capitalization of $4.16 billion, a PE ratio of 16.02 and a beta of 1.06. First Horizon National Corporation has a 52 week low of $14.29 and a 52 week high of $20.84. The company has a 50-day moving average price of $17.47 and a 200 day moving average price of $18.61.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.36 annualized dividend and a yield of 2.02%. First Horizon National Corporation’s dividend payout ratio (DPR) is 32.43%.
In related news, Director Vicki R. Palmer sold 5,211 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total transaction of $91,974.15. Following the transaction, the director now directly owns 57,818 shares in the company, valued at approximately $1,020,487.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.09% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FHN. State Treasurer State of Michigan increased its position in shares of First Horizon National Corporation by 1.5% in the second quarter. State Treasurer State of Michigan now owns 96,383 shares of the financial services provider’s stock valued at $1,679,000 after buying an additional 1,400 shares during the period. Highland Capital Management LLC increased its position in shares of First Horizon National Corporation by 1.6% in the second quarter. Highland Capital Management LLC now owns 54,016 shares of the financial services provider’s stock valued at $941,000 after buying an additional 868 shares during the period. Aperio Group LLC increased its position in shares of First Horizon National Corporation by 1.8% in the second quarter. Aperio Group LLC now owns 134,330 shares of the financial services provider’s stock valued at $2,340,000 after buying an additional 2,322 shares during the period. Louisiana State Employees Retirement System increased its position in shares of First Horizon National Corporation by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 61,000 shares of the financial services provider’s stock valued at $1,063,000 after buying an additional 2,000 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of First Horizon National Corporation by 12.7% in the second quarter. LS Investment Advisors LLC now owns 22,668 shares of the financial services provider’s stock valued at $395,000 after buying an additional 2,556 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.
First Horizon National Corporation 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.
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