First Horizon National (NYSE:FHN) Announces Quarterly Earnings Results
First Horizon National (NYSE:FHN) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05, RTT News reports. First Horizon National had a return on equity of 10.14% and a net margin of 24.57%. The business had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $441.32 million. During the same period last year, the business earned $0.36 EPS. The business’s revenue was up 5.3% on a year-over-year basis.
Shares of FHN opened at $15.88 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 2.17 and a beta of 1.27. First Horizon National has a fifty-two week low of $12.30 and a fifty-two week high of $19.01. The business has a 50-day moving average price of $14.52.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, June 13th. First Horizon National’s dividend payout ratio (DPR) is currently 39.72%.
Large investors have recently added to or reduced their stakes in the stock. Buffington Mohr McNeal bought a new position in shares of First Horizon National during the first quarter valued at $30,000. NEXT Financial Group Inc bought a new position in shares of First Horizon National in the second quarter worth about $30,000. Old North State Trust LLC raised its stake in shares of First Horizon National by 643.1% in the first quarter. Old North State Trust LLC now owns 2,378 shares of the financial services provider’s stock worth $33,000 after buying an additional 2,058 shares during the period. Trustcore Financial Services LLC bought a new position in shares of First Horizon National in the first quarter worth about $41,000. Finally, ETF Managers Group LLC raised its stake in shares of First Horizon National by 11.4% in the first quarter. ETF Managers Group LLC now owns 7,714 shares of the financial services provider’s stock worth $108,000 after buying an additional 792 shares during the period. Institutional investors own 87.95% of the company’s stock.
FHN has been the topic of several recent analyst reports. Stephens restated a “neutral” rating on shares of First Horizon National in a research note on Tuesday, April 16th. Piper Jaffray Companies initiated coverage on First Horizon National in a research note on Wednesday, July 3rd. They set a “buy” rating and a $18.00 price objective on the stock. Bank of America upgraded First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research note on Tuesday. Jefferies Financial Group raised their price objective on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. First Horizon National has an average rating of “Hold” and a consensus price target of $19.25.
About First Horizon National
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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