Q1 2019 EPS Estimates for First Horizon National Corp (FHN) Reduced by FIG Partners

First Horizon National Corp (NYSE:FHN) – Research analysts at FIG Partners reduced their Q1 2019 EPS estimates for First Horizon National in a research note issued to investors on Tuesday, October 16th. FIG Partners analyst C. Marinac now forecasts that the financial services provider will earn $0.35 per share for the quarter, down from their previous estimate of $0.38. FIG Partners also issued estimates for First Horizon National’s Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.42 EPS and FY2019 earnings at $1.57 EPS.

First Horizon National (NYSE:FHN) last announced its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. First Horizon National had a net margin of 18.17% and a return on equity of 9.60%. The firm had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $448.62 million. During the same period in the previous year, the company earned $0.32 earnings per share.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of First Horizon National from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Barclays reduced their price target on shares of First Horizon National from $23.00 to $21.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. SunTrust Banks reduced their price target on shares of First Horizon National to $20.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Keefe, Bruyette & Woods reduced their price target on shares of First Horizon National from $23.00 to $22.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Finally, Stephens reissued a “$17.03” rating and issued a $18.50 price target on shares of First Horizon National in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. First Horizon National presently has a consensus rating of “Buy” and a consensus price target of $20.82.

Shares of FHN opened at $15.62 on Friday. First Horizon National has a 1-year low of $15.14 and a 1-year high of $20.86. The firm has a market capitalization of $5.17 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.91.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 3.07%. First Horizon National’s dividend payout ratio is presently 43.24%.

In other First Horizon National news, Director Scott M. Niswonger acquired 100,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were bought at an average cost of $18.20 per share, for a total transaction of $1,820,000.00. Following the completion of the purchase, the director now owns 639,403 shares in the company, valued at approximately $11,637,134.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David T. Popwell acquired 15,750 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was acquired at an average price of $15.88 per share, for a total transaction of $250,110.00. Following the completion of the purchase, the insider now owns 283,692 shares of the company’s stock, valued at approximately $4,505,028.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 145,750 shares of company stock worth $2,602,510. 1.75% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FHN. Baird Financial Group Inc. acquired a new position in First Horizon National in the first quarter valued at $237,000. Natixis acquired a new position in First Horizon National in the first quarter valued at $221,000. LPL Financial LLC acquired a new position in First Horizon National in the first quarter valued at $543,000. Verition Fund Management LLC increased its stake in First Horizon National by 128.3% in the first quarter. Verition Fund Management LLC now owns 39,136 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 21,992 shares during the period. Finally, Legal & General Group Plc increased its stake in First Horizon National by 12.7% in the first quarter. Legal & General Group Plc now owns 414,827 shares of the financial services provider’s stock valued at $7,811,000 after purchasing an additional 46,773 shares during the period. Institutional investors own 85.68% of the company’s stock.

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.

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

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