Jefferies Financial Group Weighs in on First Horizon National Corp’s Q1 2019 Earnings (FHN)

First Horizon National Corp (NYSE:FHN) – Stock analysts at Jefferies Financial Group increased their Q1 2019 earnings per share estimates for shares of First Horizon National in a report released on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will earn $0.33 per share for the quarter, up from their previous forecast of $0.32.

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

FHN has been the subject of a number of other reports. Zacks Investment Research cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Tuesday. Deutsche Bank raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price objective for the company in a research note on Monday, November 12th. Morgan Stanley reduced their price objective on shares of First Horizon National from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 11th. TheStreet cut shares of First Horizon National from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. Finally, ValuEngine cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have given 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 target price of $20.15.

Shares of FHN stock opened at $14.23 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.92. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.88 and a beta of 1.10. First Horizon National has a 12 month low of $12.30 and a 12 month high of $20.75.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Friday, December 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 3.37%. First Horizon National’s payout ratio is 43.24%.

In related news, Director Scott M. Niswonger bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The stock was bought at an average cost of $15.76 per share, with a total value of $788,000.00. Following the completion of the purchase, the director now owns 640,951 shares of the company’s stock, valued at approximately $10,101,387.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yousef A. Valine bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were bought at an average cost of $16.29 per share, with a total value of $48,870.00. Following the completion of the purchase, the executive vice president now directly owns 182,363 shares of the company’s stock, valued at approximately $2,970,693.27. The disclosure for this purchase can be found here. Insiders have purchased 93,750 shares of company stock valued at $1,450,730 over the last ninety days. 1.75% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its position in First Horizon National by 16.6% during the third quarter. Neuberger Berman Group LLC now owns 17,656 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 2,520 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of First Horizon National by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 230,768 shares of the financial services provider’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Summit Asset Management LLC lifted its holdings in shares of First Horizon National by 5.8% in the 3rd quarter. Summit Asset Management LLC now owns 68,950 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 3,780 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of First Horizon National by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 397,161 shares of the financial services provider’s stock worth $6,855,000 after acquiring an additional 4,152 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of First Horizon National by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 78,918 shares of the financial services provider’s stock worth $1,362,000 after acquiring an additional 4,368 shares during the last quarter. Institutional investors and hedge funds own 87.45% 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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Earnings History and Estimates for First Horizon National (NYSE:FHN)

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