First Horizon National Corporation (FHN) to Post FY2018 Earnings of $1.28 Per Share, Jefferies Group Forecasts

First Horizon National Corporation (NYSE:FHN) – Equities researchers at Jefferies Group raised their FY2018 EPS estimates for shares of First Horizon National Corporation in a research report issued to clients and investors on Wednesday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will post earnings of $1.28 per share for the year, up from their previous estimate of $1.26.

Several other equities research analysts have also recently issued reports on FHN. Hovde Group raised their target price on shares of First Horizon National Corporation from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. UBS AG upgraded shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. upgraded shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. BidaskClub cut shares of First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. First Horizon National Corporation has a consensus rating of “Hold” and a consensus price target of $20.22.

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First Horizon National Corporation (NYSE FHN) traded up 0.84% during midday trading on Friday, hitting $19.29. 3,344,569 shares of the company were exchanged. The stock has a 50 day moving average of $18.29 and a 200-day moving average of $17.81. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 17.22 and a beta of 1.05. First Horizon National Corporation has a 1-year low of $14.92 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $340.48 million. First Horizon National Corporation had a net margin of 19.36% and a return on equity of 9.40%. During the same quarter in the previous year, the firm posted $0.27 EPS.

Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of First Horizon National Corporation by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 13,800 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 110 shares during the period. United Capital Financial Advisers LLC raised its position in shares of First Horizon National Corporation by 1.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 157 shares during the period. Teacher Retirement System of Texas raised its position in shares of First Horizon National Corporation by 1.5% during the 1st quarter. Teacher Retirement System of Texas now owns 18,435 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 269 shares during the period. PNC Financial Services Group Inc. raised its position in shares of First Horizon National Corporation by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 286 shares during the period. Finally, World Asset Management Inc raised its position in shares of First Horizon National Corporation by 2.2% during the 2nd quarter. World Asset Management Inc now owns 14,781 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 85.05% of the company’s stock.

In other news, CFO William C. Losch III sold 45,107 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the sale, the chief financial officer now directly owns 275,497 shares in the company, valued at approximately $5,132,509.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William C. Losch III sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the sale, the chief financial officer now owns 233,890 shares in the company, valued at $4,329,303.90. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is presently 32.14%.

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.

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

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