Q3 2018 EPS Estimates for First Horizon National Corporation (FHN) Boosted by Analyst

First Horizon National Corporation (NYSE:FHN) – Equities research analysts at SunTrust Banks lifted their Q3 2018 earnings per share estimates for First Horizon National in a research note issued to investors on Wednesday. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will post earnings of $0.35 per share for the quarter, up from their previous estimate of $0.34. SunTrust Banks also issued estimates for First Horizon National’s Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.24 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.39 EPS and FY2019 earnings at $1.51 EPS.

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

A number of other research firms also recently issued reports on FHN. Royal Bank Of Canada reiterated a “hold” rating and set a $22.00 price target on shares of First Horizon National in a research report on Tuesday. Barclays restated an “equal weight” rating and set a $21.00 price objective on shares of First Horizon National in a research report on Monday, December 4th. Zacks Investment Research upgraded First Horizon National from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price objective on shares of First Horizon National in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price (up from $19.50) on shares of First Horizon National in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.75.

Shares of First Horizon National (NYSE FHN) opened at $19.94 on Friday. First Horizon National has a 1 year low of $18.68 and a 1 year high of $45.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The stock has a market capitalization of $4,715.06, a PE ratio of 19.17, a P/E/G ratio of 2.59 and a beta of 1.03.

Several institutional investors have recently modified their holdings of FHN. Goldman Sachs Group Inc. raised its stake in shares of First Horizon National by 137.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,862,020 shares of the financial services provider’s stock valued at $84,697,000 after purchasing an additional 2,817,897 shares in the last quarter. NWQ Investment Management Company LLC bought a new stake in shares of First Horizon National during the 3rd quarter valued at about $50,493,000. Janus Henderson Group PLC grew its position in shares of First Horizon National by 738.1% during the 3rd quarter. Janus Henderson Group PLC now owns 2,131,536 shares of the financial services provider’s stock valued at $40,819,000 after buying an additional 1,877,196 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of First Horizon National by 56.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 4,270,239 shares of the financial services provider’s stock valued at $74,388,000 after buying an additional 1,534,966 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in First Horizon National in the 3rd quarter worth about $27,689,000. Institutional investors and hedge funds own 89.03% of the company’s stock.

In other First Horizon National news, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total value of $64,785.00. Following the transaction, the chief financial officer now owns 233,890 shares in the company, valued at approximately $4,329,303.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Brad Martin sold 5,449 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $19.25, for a total transaction of $104,893.25. Following the completion of the transaction, the director now owns 482,188 shares in the company, valued at approximately $9,282,119. The disclosure for this sale can be found here. Insiders have sold a total of 54,056 shares of company stock worth $1,010,022 in the last 90 days. Company insiders own 2.09% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.81%. First Horizon National’s payout ratio is 32.14%.

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About First Horizon National

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 (NYSE:FHN)

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