Equities analysts predict that First Horizon National Corp (NYSE:FHN) will post sales of $441.63 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for First Horizon National’s earnings. The highest sales estimate is $444.80 million and the lowest is $436.53 million. First Horizon National posted sales of $438.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The firm is expected to issue its next earnings report on Tuesday, July 16th.
According to Zacks, analysts expect that First Horizon National will report full-year sales of $1.78 billion for the current financial year, with estimates ranging from $1.76 billion to $1.79 billion. For the next year, analysts forecast that the firm will report sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for First Horizon National.
First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $435.60 million during the quarter, compared to analyst estimates of $428.95 million. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. First Horizon National’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS.
FHN has been the subject of several research reports. TheStreet upgraded shares of First Horizon National from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. ValuEngine lowered shares of First Horizon National from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Jefferies Financial Group lowered shares of First Horizon National from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Stephens reiterated a “neutral” rating on shares of First Horizon National in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.
Shares of First Horizon National stock traded up $0.16 during trading on Thursday, hitting $14.71. The company’s stock had a trading volume of 3,296,700 shares, compared to its average volume of 3,068,861. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.93. The business’s fifty day moving average price is $14.21. The firm has a market capitalization of $4.59 billion, a P/E ratio of 10.43, a PEG ratio of 1.54 and a beta of 1.24. First Horizon National has a 52 week low of $12.30 and a 52 week high of $19.01.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 3.81%. First Horizon National’s dividend payout ratio is currently 39.72%.
In other First Horizon National news, EVP Susan L. Springfield sold 29,625 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the completion of the sale, the executive vice president now directly owns 161,006 shares in the company, valued at approximately $2,397,379.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.88% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Buffington Mohr McNeal purchased a new stake in shares of First Horizon National during the 1st quarter valued at about $30,000. Old North State Trust LLC boosted its holdings in shares of First Horizon National by 643.1% during the 1st quarter. Old North State Trust LLC now owns 2,378 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 2,058 shares during the last quarter. Trustcore Financial Services LLC purchased a new stake in shares of First Horizon National during the 1st quarter valued at about $41,000. Toronto Dominion Bank purchased a new stake in shares of First Horizon National during the 4th quarter valued at about $73,000. Finally, ETF Managers Group LLC boosted its holdings in shares of First Horizon National by 11.4% during the 1st quarter. ETF Managers Group LLC now owns 7,714 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 792 shares during the last quarter. Institutional investors and hedge funds own 87.96% 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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