Analysts expect that First Horizon National Corp (NYSE:FHN) will post sales of $448.09 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for First Horizon National’s earnings, with estimates ranging from $443.80 million to $452.73 million. First Horizon National reported sales of $328.37 million during the same quarter last year, which would indicate a positive year over year growth rate of 36.5%. The firm is scheduled to announce its next quarterly earnings report on Friday, July 13th.
On average, analysts expect that First Horizon National will report full-year sales of $1.81 billion for the current year, with estimates ranging from $1.79 billion to $1.84 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.94 billion per share, with estimates ranging from $1.90 billion to $2.09 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First Horizon National.
First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Friday, April 13th. The financial services provider reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. First Horizon National had a net margin of 12.30% and a return on equity of 9.37%. The business had revenue of $437.20 million for the quarter, compared to analyst estimates of $438.60 million. During the same period last year, the business earned $0.23 EPS. The company’s revenue was up 42.6% on a year-over-year basis.
Several equities research analysts recently commented on the stock. Hovde Group set a $21.00 price target on shares of First Horizon National and gave the stock a “hold” rating in a research note on Monday, April 16th. FIG Partners upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating in a research note on Monday, April 16th. Piper Jaffray Companies assumed coverage on shares of First Horizon National in a research note on Monday, April 9th. They set an “overweight” rating and a $22.00 price target on the stock. Wells Fargo & Co upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Thursday, April 5th. Finally, UBS Group assumed coverage on shares of First Horizon National in a research note on Thursday, March 22nd. They set a “buy” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. First Horizon National presently has an average rating of “Buy” and a consensus target price of $22.17.
Shares of NYSE:FHN opened at $19.20 on Friday. First Horizon National has a 12 month low of $15.84 and a 12 month high of $20.86. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.24 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.85 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.50%. First Horizon National’s dividend payout ratio is presently 43.24%.
In other First Horizon National news, EVP John M. Daniel sold 22,389 shares of First Horizon National stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $19.79, for a total value of $443,078.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.75% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Interstate Bank acquired a new position in First Horizon National in the fourth quarter valued at $103,000. First Mercantile Trust Co. increased its stake in First Horizon National by 91.8% in the first quarter. First Mercantile Trust Co. now owns 7,615 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 3,644 shares during the period. Salem Investment Counselors Inc. acquired a new position in First Horizon National in the fourth quarter valued at $165,000. Twin Tree Management LP acquired a new position in First Horizon National in the first quarter valued at $177,000. Finally, Timber Hill LLC acquired a new position in First Horizon National in the first quarter valued at $192,000. Institutional investors own 82.93% of the company’s stock.
About First Horizon National
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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