Wall Street analysts expect that First Horizon National Corporation (NYSE:FHN) will report $340.92 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for First Horizon National Corporation’s earnings, with the highest sales estimate coming in at $344.40 million and the lowest estimate coming in at $335.10 million. First Horizon National Corporation reported sales of $333.74 million in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The business is scheduled to issue its next quarterly earnings results on Friday, October 13th.

According to Zacks, analysts expect that First Horizon National Corporation will report full-year sales of $340.92 million for the current fiscal year, with estimates ranging from $1.39 billion to $1.41 billion. For the next financial year, analysts forecast that the firm will report sales of $1.83 billion per share, with estimates ranging from $1.79 billion to $1.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow First Horizon National Corporation.

First Horizon National Corporation (NYSE:FHN) last announced its earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm had revenue of $328.37 million during the quarter, compared to analyst estimates of $331.27 million. During the same period last year, the firm posted $0.24 EPS. The business’s revenue was up 2.0% compared to the same quarter last year.

Several analysts have issued reports on the company. UBS AG raised First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday. Raymond James Financial, Inc. raised First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday. BidaskClub lowered First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Hovde Group dropped their price target on First Horizon National Corporation from $20.50 to $20.00 and set a “market perform” rating for the company in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $20.00 price target on shares of First Horizon National Corporation in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $19.57.

COPYRIGHT VIOLATION WARNING: “Brokerages Expect First Horizon National Corporation (FHN) Will Post Quarterly Sales of $340.92 Million” was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/08/13/brokerages-expect-first-horizon-national-corporation-fhn-will-post-quarterly-sales-of-340-92-million.html.

In other news, Director Vicki R. Palmer sold 5,211 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total transaction of $91,974.15. Following the transaction, the director now directly owns 57,818 shares in the company, valued at approximately $1,020,487.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.09% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FHN. BlackRock Inc. boosted its position in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of First Horizon National Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 19,672,261 shares of the financial services provider’s stock worth $342,691,000 after buying an additional 435,264 shares during the last quarter. State Street Corp raised its stake in shares of First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Horizon National Corporation by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock worth $116,124,000 after buying an additional 258,298 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Shares of First Horizon National Corporation (FHN) opened at 17.25 on Friday. The stock’s 50 day moving average price is $17.54 and its 200 day moving average price is $18.36. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.54 and a beta of 1.06. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.

First Horizon National Corporation Company Profile

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.

Get a free copy of the Zacks research report on First Horizon National Corporation (FHN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for First Horizon National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.