First Horizon National (FHN) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
First Horizon National (NYSE:FHN) posted its earnings results on Friday. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01, Bloomberg Earnings reports. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The firm had revenue of $375.30 million during the quarter, compared to analyst estimates of $368.93 million. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s revenue was up 17.4% compared to the same quarter last year.
First Horizon National (FHN) opened at $20.16 on Friday. The firm has a market cap of $4,722.08, a PE ratio of 18.00, a P/E/G ratio of 2.04 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. First Horizon National has a 1 year low of $15.84 and a 1 year high of $20.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.79%. First Horizon National’s payout ratio is currently 52.17%.
Several analysts have recently issued reports on FHN shares. Morgan Stanley reiterated an “equal weight” rating and issued a $19.50 target price on shares of First Horizon National in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of First Horizon National from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Hovde Group upped their target price on shares of First Horizon National from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Finally, Raymond James Financial upped their target price on shares of First Horizon National from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and three have given a strong buy rating to the company’s stock. First Horizon National presently has an average rating of “Buy” and a consensus price target of $22.00.
First Horizon National 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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