$0.36 Earnings Per Share Expected for First Horizon National Corp (FHN) This Quarter

Wall Street brokerages expect First Horizon National Corp (NYSE:FHN) to post $0.36 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for First Horizon National’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.38. First Horizon National posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is scheduled to announce its next earnings results before the market opens on Friday, January 18th.

On average, analysts expect that First Horizon National will report full-year earnings of $1.42 per share for the current financial year, with EPS estimates ranging from $1.38 to $1.45. For the next fiscal year, analysts anticipate that the company will post earnings of $1.54 per share, with EPS estimates ranging from $1.45 to $1.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover First Horizon National.

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

Several equities research analysts have recently commented on FHN shares. Zacks Investment Research downgraded First Horizon National from a “hold” rating to a “sell” rating in a report on Tuesday. Deutsche Bank upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price objective for the company in a report on Monday, November 12th. Morgan Stanley decreased their price objective on First Horizon National from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, December 11th. TheStreet downgraded First Horizon National from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. Finally, ValuEngine downgraded First Horizon National from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.15.

In related news, insider David T. Popwell purchased 15,750 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider now owns 283,692 shares of the company’s stock, valued at approximately $4,505,028.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott M. Niswonger purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $15.76 per share, with a total value of $788,000.00. Following the acquisition, the director now directly owns 640,951 shares of the company’s stock, valued at approximately $10,101,387.76. The disclosure for this purchase can be found here. Insiders have purchased 93,750 shares of company stock valued at $1,450,730 in the last quarter. 1.75% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Neuberger Berman Group LLC boosted its position in First Horizon National by 16.6% in the third quarter. Neuberger Berman Group LLC now owns 17,656 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 2,520 shares during the last quarter. Arizona State Retirement System lifted its position in shares of First Horizon National by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 230,768 shares of the financial services provider’s stock valued at $3,983,000 after buying an additional 3,604 shares during the last quarter. Summit Asset Management LLC lifted its position in shares of First Horizon National by 5.8% during the 3rd quarter. Summit Asset Management LLC now owns 68,950 shares of the financial services provider’s stock valued at $1,190,000 after buying an additional 3,780 shares during the last quarter. Legal & General Group Plc lifted its position in shares of First Horizon National by 1.1% during the 3rd quarter. Legal & General Group Plc now owns 397,161 shares of the financial services provider’s stock valued at $6,855,000 after buying an additional 4,152 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of First Horizon National by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 78,918 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 4,368 shares during the period. 87.45% of the stock is currently owned by institutional investors and hedge funds.

NYSE FHN opened at $14.19 on Tuesday. The company has a market cap of $4.61 billion, a PE ratio of 12.78, a PEG ratio of 0.88 and a beta of 1.10. First Horizon National has a 52 week low of $12.30 and a 52 week high of $20.75. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.26.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Friday, December 14th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 3.38%. First Horizon National’s dividend payout ratio (DPR) is currently 43.24%.

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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