Zacks: Analysts Anticipate First Horizon National Corp (NYSE:FHN) Will Announce Earnings of $0.40 Per Share
Wall Street analysts expect that First Horizon National Corp (NYSE:FHN) will report earnings of $0.40 per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for First Horizon National’s earnings, with estimates ranging from $0.37 to $0.45. First Horizon National posted earnings of $0.36 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The business is expected to report its next quarterly earnings report on Tuesday, October 15th.
On average, analysts expect that First Horizon National will report full year earnings of $1.52 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.66. For the next financial year, analysts forecast that the business will report earnings of $1.57 per share, with EPS estimates ranging from $1.48 to $1.70. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow First Horizon National.
First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. First Horizon National had a net margin of 24.57% and a return on equity of 10.14%. The business had revenue of $461.60 million during the quarter, compared to the consensus estimate of $441.32 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year.
In related news, EVP Susan L. Springfield sold 29,625 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the completion of the transaction, the executive vice president now owns 161,006 shares of the company’s stock, valued at $2,397,379.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.88% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHN. FMR LLC increased its holdings in First Horizon National by 35.6% in the fourth quarter. FMR LLC now owns 26,423,350 shares of the financial services provider’s stock valued at $347,731,000 after buying an additional 6,941,161 shares in the last quarter. LSV Asset Management increased its holdings in First Horizon National by 346.9% in the first quarter. LSV Asset Management now owns 4,341,495 shares of the financial services provider’s stock valued at $60,694,000 after buying an additional 3,369,995 shares in the last quarter. Norges Bank purchased a new position in First Horizon National in the fourth quarter valued at $37,696,000. First Trust Advisors LP increased its holdings in First Horizon National by 443.0% in the first quarter. First Trust Advisors LP now owns 1,888,718 shares of the financial services provider’s stock valued at $26,404,000 after buying an additional 1,540,914 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in First Horizon National by 2,604.8% in the fourth quarter. Millennium Management LLC now owns 936,964 shares of the financial services provider’s stock valued at $12,330,000 after buying an additional 902,323 shares in the last quarter. 87.95% of the stock is owned by institutional investors.
Shares of NYSE:FHN traded up $0.12 on Thursday, hitting $16.00. 2,550,257 shares of the company were exchanged, compared to its average volume of 3,197,053. First Horizon National has a 1-year low of $12.30 and a 1-year high of $19.01. The stock has a 50 day moving average price of $14.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.93. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 2.17 and a beta of 1.27.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.56 annualized dividend and a dividend yield of 3.50%. First Horizon National’s dividend payout ratio (DPR) is presently 39.72%.
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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