Wall Street brokerages predict that First Horizon National Corporation (NYSE:FHN) will announce $340.92 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for First Horizon National Corporation’s earnings. The highest sales estimate is $344.40 million and the lowest is $335.10 million. First Horizon National Corporation posted sales of $333.74 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The firm is scheduled to report its next earnings report before the market opens on Friday, October 13th.

According to Zacks, analysts expect that First Horizon National Corporation will report full-year sales of $340.92 million for the current fiscal year, with estimates ranging from $1.39 billion to $1.41 billion. For the next year, analysts anticipate that the firm will report sales of $1.83 billion per share, with estimates ranging from $1.79 billion to $1.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow First Horizon National Corporation.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $328.37 million during the quarter, compared to the consensus estimate of $331.27 million. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share.

A number of research analysts have recently commented on FHN shares. ValuEngine upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of First Horizon National Corporation in a report on Monday, June 12th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a report on Wednesday, September 13th. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, September 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $19.50 price objective on shares of First Horizon National Corporation in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.44.

Shares of First Horizon National Corporation (NYSE FHN) traded down 0.21% during midday trading on Friday, reaching $19.22. The company’s stock had a trading volume of 2,665,140 shares. First Horizon National Corporation has a 12-month low of $14.60 and a 12-month high of $20.84. The stock’s 50-day moving average price is $17.73 and its 200-day moving average price is $17.75. The company has a market cap of $4.50 billion, a P/E ratio of 17.32 and a beta of 1.05.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.87%. First Horizon National Corporation’s payout ratio is 32.43%.

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

A number of institutional investors have recently bought and sold shares of FHN. BlackRock Inc. lifted its position in First Horizon National Corporation by 5,232.8% during the 1st quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after acquiring an additional 20,980,798 shares during the period. Goldman Sachs Group Inc. lifted its position in First Horizon National Corporation by 137.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,862,020 shares of the financial services provider’s stock worth $84,697,000 after acquiring an additional 2,817,897 shares during the period. State Street Corp lifted its position in First Horizon National Corporation by 21.4% during the 1st quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after acquiring an additional 2,358,324 shares during the period. Lord Abbett & CO. LLC lifted its position in First Horizon National Corporation by 56.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 4,270,239 shares of the financial services provider’s stock worth $74,388,000 after acquiring an additional 1,534,966 shares during the period. Finally, Vanguard Group Inc. lifted its position in First Horizon National Corporation by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 19,236,997 shares of the financial services provider’s stock worth $355,884,000 after acquiring an additional 1,039,986 shares during the period. 85.05% of the stock is owned by institutional investors.

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About First Horizon National Corporation

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

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