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.
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