$441.74 Million in Sales Expected for First Horizon National Corp (FHN) This Quarter
Wall Street analysts expect First Horizon National Corp (NYSE:FHN) to post $441.74 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for First Horizon National’s earnings, with the highest sales estimate coming in at $444.80 million and the lowest estimate coming in at $436.53 million. First Horizon National reported sales of $438.46 million in the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The firm is scheduled to announce its next earnings report on Tuesday, July 16th.
On average, analysts expect that First Horizon National will report full year sales of $1.78 billion for the current year, with estimates ranging from $1.76 billion to $1.79 billion. For the next year, analysts expect that the business will report sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.88 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover First Horizon National.
First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $435.60 million for the quarter, compared to analyst estimates of $428.95 million. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS.
Shares of NYSE:FHN traded down $0.29 during trading on Tuesday, reaching $13.41. The company had a trading volume of 2,752,587 shares, compared to its average volume of 2,424,124. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.47 and a beta of 1.20. First Horizon National has a 12 month low of $12.30 and a 12 month high of $19.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, June 13th. First Horizon National’s dividend payout ratio is currently 39.72%.
In related news, EVP Susan L. Springfield sold 29,625 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the transaction, the executive vice president now owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.88% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FHN. GHP Investment Advisors Inc. boosted its position in First Horizon National by 1.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 65,380 shares of the financial services provider’s stock valued at $914,000 after buying an additional 718 shares during the period. ETF Managers Group LLC boosted its position in First Horizon National by 11.4% during the 1st quarter. ETF Managers Group LLC now owns 7,714 shares of the financial services provider’s stock valued at $108,000 after buying an additional 792 shares during the period. Private Advisor Group LLC boosted its position in First Horizon National by 4.8% during the 4th quarter. Private Advisor Group LLC now owns 20,197 shares of the financial services provider’s stock valued at $266,000 after buying an additional 921 shares during the period. Verity & Verity LLC boosted its position in First Horizon National by 4.5% during the 1st quarter. Verity & Verity LLC now owns 22,995 shares of the financial services provider’s stock valued at $321,000 after buying an additional 995 shares during the period. Finally, Pennsylvania Trust Co boosted its position in First Horizon National by 0.7% during the 1st quarter. Pennsylvania Trust Co now owns 140,500 shares of the financial services provider’s stock valued at $1,964,000 after buying an additional 1,000 shares during the period. 87.96% of the stock is currently owned by institutional investors.
First Horizon National Company Profile
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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