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.
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%.
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.
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