First Horizon National Corp (FHN) Expected to Announce Earnings of $0.36 Per Share
Analysts expect that First Horizon National Corp (NYSE:FHN) will report earnings per share of $0.36 for the current quarter, according to Zacks. Seven analysts have made estimates for First Horizon National’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.34. First Horizon National posted earnings per share of $0.32 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The business is scheduled to announce its next earnings results on Friday, October 12th.
On average, analysts expect that First Horizon National will report full-year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.37 to $1.45. For the next financial year, analysts expect that the firm will post earnings of $1.60 per share, with EPS estimates ranging from $1.52 to $1.71. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow First Horizon National.
First Horizon National (NYSE:FHN) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. First Horizon National had a return on equity of 9.64% and a net margin of 10.74%. The firm had revenue of $438.46 million during the quarter, compared to analysts’ expectations of $447.95 million.
Shares of NYSE:FHN traded up $0.09 during trading on Monday, hitting $18.38. 1,400,975 shares of the company’s stock were exchanged, compared to its average volume of 2,135,980. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.28. First Horizon National has a 52-week low of $15.97 and a 52-week high of $20.86. The stock has a market capitalization of $5.94 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.10 and a beta of 0.85.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, September 6th. First Horizon National’s dividend payout ratio (DPR) is 43.24%.
In related news, Director Mark A. Emkes bought 5,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The stock was purchased at an average price of $17.68 per share, for a total transaction of $88,400.00. Following the acquisition, the director now owns 57,996 shares in the company, valued at $1,025,369.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman D Bryan Jordan bought 25,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was bought at an average price of $17.76 per share, with a total value of $444,000.00. Following the acquisition, the chairman now owns 611,832 shares in the company, valued at approximately $10,866,136.32. The disclosure for this purchase can be found here. In the last quarter, insiders bought 130,000 shares of company stock valued at $2,352,400. Company insiders own 1.75% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Capital Advantage Inc. purchased a new position in shares of First Horizon National in the 2nd quarter worth approximately $100,000. First Mercantile Trust Co. boosted its holdings in shares of First Horizon National by 91.8% in the 1st quarter. First Mercantile Trust Co. now owns 7,615 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 3,644 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of First Horizon National in the 2nd quarter worth approximately $148,000. Point72 Hong Kong Ltd boosted its holdings in shares of First Horizon National by 29,974.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,323 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 9,292 shares during the period. Finally, Twin Tree Management LP purchased a new position in shares of First Horizon National in the 1st quarter worth approximately $177,000. Hedge funds and other institutional investors own 84.29% 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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