Q4 2017 EPS Estimates for First Horizon National Corporation (FHN) Cut by Jefferies Group

First Horizon National Corporation (NYSE:FHN) – Analysts at Jefferies Group lowered their Q4 2017 earnings per share (EPS) estimates for shares of First Horizon National in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.29. Jefferies Group also issued estimates for First Horizon National’s FY2018 earnings at $1.45 EPS and FY2019 earnings at $1.63 EPS.

A number of other brokerages also recently commented on FHN. Hovde Group increased their price target on shares of First Horizon National from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Raymond James Financial raised shares of First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Wednesday, November 8th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of First Horizon National in a report on Tuesday, December 5th. Vining Sparks raised shares of First Horizon National to a “buy” rating and set a $25.00 price target for the company in a report on Monday. Finally, Barclays reaffirmed an “equal weight” rating and issued a $21.00 price target on shares of First Horizon National in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. First Horizon National has a consensus rating of “Buy” and an average price target of $22.00.

First Horizon National (NYSE FHN) opened at $20.32 on Tuesday. First Horizon National has a 1-year low of $15.84 and a 1-year high of $20.86. The company has a market cap of $6,610.00, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38.

First Horizon National (NYSE:FHN) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, beating the 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 business had revenue of $337.00 million during the quarter, compared to the consensus estimate of $340.48 million. During the same quarter in the prior year, the firm earned $0.27 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, November 2nd. First Horizon National’s dividend payout ratio (DPR) is currently 32.14%.

In related news, Director R Brad Martin sold 5,449 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the sale, the director now directly owns 482,188 shares of the company’s stock, valued at approximately $9,282,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.09% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FHN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Horizon National by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 676 shares during the period. Macquarie Group Ltd. purchased a new stake in First Horizon National in the 3rd quarter worth about $182,000. Ladenburg Thalmann Financial Services Inc. raised its position in First Horizon National by 133.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,438 shares during the period. PNC Financial Services Group Inc. raised its position in First Horizon National by 2.4% in the 2nd 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 period. Finally, Riverhead Capital Management LLC raised its position in First Horizon National by 63.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 5,183 shares during the period. 88.97% of the stock is currently owned by institutional investors.

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First Horizon National 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.

Earnings History and Estimates for First Horizon National (NYSE:FHN)

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