Brokerages Expect First Horizon National Corporation (FHN) Will Post Earnings of $0.28 Per Share

Wall Street analysts expect First Horizon National Corporation (NYSE:FHN) to post earnings per share of $0.28 for the current quarter, according to Zacks. Six analysts have issued estimates for First Horizon National Corporation’s earnings, with estimates ranging from $0.21 to $0.32. First Horizon National Corporation reported earnings per share of $0.23 during the same quarter last year, which would indicate a positive year over year growth rate of 21.7%. The business is scheduled to issue its next earnings report on Friday, January 12th.

According to Zacks, analysts expect that First Horizon National Corporation will report full year earnings of $1.11 per share for the current year, with EPS estimates ranging from $1.06 to $1.14. For the next fiscal year, analysts expect that the company will post earnings of $1.28 per share, with EPS estimates ranging from $1.21 to $1.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow First Horizon National Corporation.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. First Horizon National Corporation had a net margin of 19.36% and a return on equity of 9.40%. The company had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $340.48 million. During the same period last year, the company posted $0.27 EPS.

A number of brokerages recently issued reports on FHN. J P Morgan Chase & Co reissued a “buy” rating and set a $20.00 price target on shares of First Horizon National Corporation in a research report on Wednesday, September 13th. ValuEngine cut shares of First Horizon National Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley reissued an “equal weight” rating and set a $19.50 price target on shares of First Horizon National Corporation in a research report on Wednesday, September 27th. BidaskClub cut shares of First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price objective on shares of First Horizon National Corporation in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. First Horizon National Corporation currently has a consensus rating of “Hold” and a consensus price target of $20.22.

In other news, Director R Brad Martin sold 5,449 shares of First Horizon National Corporation stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the sale, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William C. Losch III sold 45,107 shares of First Horizon National Corporation stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total transaction of $840,343.41. Following the completion of the sale, the chief financial officer now owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The disclosure for this sale can be found here. Insiders sold 54,056 shares of company stock valued at $1,010,022 over the last quarter. Company insiders own 2.09% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Virginia Retirement Systems ET AL grew its position in First Horizon National Corporation by 15.2% during the second quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 13,900 shares during the period. CNA Financial Corp grew its position in First Horizon National Corporation by 11.9% during the second quarter. CNA Financial Corp now owns 64,800 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 6,900 shares during the period. Sei Investments Co. grew its position in First Horizon National Corporation by 4.6% during the second quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 2,761 shares during the period. JPMorgan Chase & Co. grew its position in First Horizon National Corporation by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock valued at $116,124,000 after buying an additional 258,298 shares during the period. Finally, Icon Advisers Inc. Co. bought a new stake in First Horizon National Corporation during the second quarter valued at approximately $620,000. Hedge funds and other institutional investors own 85.12% of the company’s stock.

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Shares of First Horizon National Corporation (NYSE FHN) traded up $0.29 during midday trading on Tuesday, reaching $18.34. 2,477,600 shares of the company were exchanged, compared to its average volume of 2,861,015. First Horizon National Corporation has a one year low of $15.84 and a one year high of $20.84. The stock has a market cap of $4,300.00, a PE ratio of 17.19, a P/E/G ratio of 2.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.96%. First Horizon National Corporation’s dividend payout ratio is presently 32.14%.

About First Horizon National Corporation

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

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