First Horizon National Corporation (FHN) Releases Quarterly Earnings Results
First Horizon National Corporation (NYSE:FHN) announced its quarterly earnings results on Friday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02, RTT News reports. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The company had revenue of $337.00 million during the quarter, compared to the consensus estimate of $340.48 million. During the same period in the prior year, the company earned $0.27 earnings per share.
First Horizon National Corporation (NYSE FHN) traded up 0.58% on Friday, hitting $18.92. The company had a trading volume of 5,722,290 shares. The stock’s 50-day moving average price is $18.04 and its 200 day moving average price is $17.78. The company has a market capitalization of $4.43 billion, a P/E ratio of 17.05 and a beta of 1.05. First Horizon National Corporation has a one year low of $14.60 and a one year high of $20.84.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.90%. First Horizon National Corporation’s payout ratio is presently 32.14%.
In related news, CFO William C. Losch III sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the transaction, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at approximately $4,329,303.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William C. Losch III sold 45,107 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the transaction, the chief financial officer now directly owns 275,497 shares in the company, valued at $5,132,509.11. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the company. UBS AG upgraded First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (up from $19.50) on shares of First Horizon National Corporation in a report on Wednesday, October 4th. Deutsche Bank AG restated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Zacks Investment Research upgraded First Horizon National Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Hovde Group lowered 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 report on Monday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.44.
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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.
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