Wall Street brokerages expect that First Horizon National Corp (NYSE:FHN) will announce sales of $768.83 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Horizon National’s earnings, with the highest sales estimate coming in at $793.70 million and the lowest estimate coming in at $750.30 million. First Horizon National reported sales of $472.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 62.7%. The business is expected to announce its next quarterly earnings results on Wednesday, October 21st.
On average, analysts expect that First Horizon National will report full year sales of $2.55 billion for the current financial year, with estimates ranging from $2.52 billion to $2.62 billion. For the next financial year, analysts expect that the company will post sales of $3.03 billion, with estimates ranging from $2.94 billion to $3.10 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 released its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). The business had revenue of $511.61 million during the quarter, compared to the consensus estimate of $477.52 million. First Horizon National had a return on equity of 7.45% and a net margin of 13.06%. During the same quarter in the previous year, the business posted $0.42 earnings per share.
Several analysts have recently commented on FHN shares. Royal Bank of Canada restated a “hold” rating and set a $10.00 price objective on shares of First Horizon National in a research report on Monday, July 20th. Morgan Stanley started coverage on shares of First Horizon National in a research report on Monday, August 17th. They set an “equal weight” rating and a $12.00 price objective on the stock. SunTrust Banks cut their target price on shares of First Horizon National from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Wells Fargo & Company raised their target price on shares of First Horizon National from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Zacks Investment Research cut shares of First Horizon National from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research note on Monday, July 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.54.
Shares of FHN stock opened at $9.82 on Thursday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 10.56 and a beta of 1.52. First Horizon National has a one year low of $6.27 and a one year high of $17.42. The company’s fifty day moving average price is $9.61 and its 200-day moving average price is $9.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.95 and a quick ratio of 0.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.11%. First Horizon National’s payout ratio is currently 36.14%.
Several institutional investors have recently added to or reduced their stakes in FHN. Twin Tree Management LP purchased a new stake in First Horizon National during the 1st quarter worth approximately $25,000. Berman Capital Advisors LLC grew its position in First Horizon National by 240.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 3,027 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,137 shares during the last quarter. FIL Ltd purchased a new stake in shares of First Horizon National in the 2nd quarter valued at $32,000. Parkside Financial Bank & Trust purchased a new stake in shares of First Horizon National in the 2nd quarter valued at $37,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of First Horizon National in the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 99.05% 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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