First Horizon National Corp (FHN) Forecasted to Earn Q4 2018 Earnings of $0.38 Per Share

First Horizon National Corp (NYSE:FHN) – Analysts at SunTrust Banks boosted their Q4 2018 EPS estimates for First Horizon National in a report released on Tuesday, November 6th. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings of $0.38 per share for the quarter, up from their previous estimate of $0.37. SunTrust Banks has a “$17.03” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for First Horizon National’s Q4 2019 earnings at $0.42 EPS.

First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $441.81 million during the quarter, compared to analyst estimates of $448.62 million. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. During the same quarter in the previous year, the firm earned $0.32 EPS.

Other equities research analysts also recently issued reports about the company. ValuEngine downgraded First Horizon National from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Barclays cut their price target on First Horizon National from $23.00 to $21.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. Stephens restated a “$17.03” rating and set a $18.50 price target on shares of First Horizon National in a research note on Wednesday, July 18th. Keefe, Bruyette & Woods cut their price target on First Horizon National from $23.00 to $22.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada cut their price target on First Horizon National from $21.00 to $19.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. First Horizon National currently has a consensus rating of “Buy” and a consensus price target of $20.82.

First Horizon National stock opened at $16.49 on Friday. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.11 and a beta of 0.93. First Horizon National has a 52-week low of $14.94 and a 52-week high of $20.86. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.26.

Large investors have recently made changes to their positions in the stock. Capital Advantage Inc. bought a new position in shares of First Horizon National during the 2nd quarter valued at approximately $100,000. Qube Research & Technologies Ltd bought a new position in shares of First Horizon National during the 2nd quarter valued at approximately $148,000. Point72 Hong Kong Ltd grew its stake in shares of First Horizon National by 29,974.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 9,323 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 9,292 shares during the period. Signition LP bought a new position in shares of First Horizon National during the 2nd quarter valued at approximately $180,000. Finally, Raymond James Trust N.A. bought a new position in shares of First Horizon National during the 3rd quarter valued at approximately $180,000. Institutional investors own 85.96% of the company’s stock.

In related news, EVP Yousef A. Valine acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average cost of $16.29 per share, for a total transaction of $48,870.00. Following the purchase, the executive vice president now owns 182,363 shares in the company, valued at approximately $2,970,693.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott M. Niswonger acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $15.76 per share, with a total value of $788,000.00. Following the completion of the purchase, the director now owns 640,951 shares in the company, valued at approximately $10,101,387.76. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 68,750 shares of company stock valued at $1,086,980. 1.75% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. First Horizon National’s dividend payout ratio (DPR) is presently 43.24%.

First Horizon National Company Profile

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

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