First Horizon National (FHN) Posts Earnings Results, Meets Estimates

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First Horizon National (NYSE:FHN) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35, RTT News reports. The company had revenue of $435.60 million for the quarter, compared to the consensus estimate of $428.95 million. First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS.

FHN stock opened at $14.32 on Tuesday. The company has a market capitalization of $4.66 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National has a 12-month low of $12.30 and a 12-month high of $19.75.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.14 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from First Horizon National’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 3.91%. First Horizon National’s dividend payout ratio is 39.72%.

FHN has been the topic of a number of research reports. TheStreet raised First Horizon National from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Zacks Investment Research raised First Horizon National from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Jefferies Financial Group downgraded First Horizon National from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Raymond James downgraded First Horizon National from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Finally, Robert W. Baird initiated coverage on First Horizon National in a research note on Thursday, December 20th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Several hedge funds have recently added to or reduced their stakes in FHN. FMR LLC grew its holdings in shares of 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 acquiring an additional 6,941,161 shares in the last quarter. Norges Bank bought a new position in shares of First Horizon National in the fourth quarter valued at approximately $37,696,000. EJF Capital LLC grew its holdings in First Horizon National by 46.2% during the fourth quarter. EJF Capital LLC now owns 5,347,700 shares of the financial services provider’s stock valued at $70,376,000 after purchasing an additional 1,689,886 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in First Horizon National by 1,226.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,709,155 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,580,286 shares during the period. Finally, Parnassus Investments CA grew its holdings in First Horizon National by 17.7% during the fourth quarter. Parnassus Investments CA now owns 9,542,251 shares of the financial services provider’s stock valued at $125,576,000 after purchasing an additional 1,432,640 shares during the period. 90.27% of the stock is owned by institutional investors.

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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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Earnings History for First Horizon National (NYSE:FHN)

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