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.
ILLEGAL ACTIVITY WARNING: “First Horizon National (FHN) Posts Earnings Results, Meets Estimates” was originally published by Macon Daily and is the property of of Macon Daily. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://macondaily.com/2019/04/16/first-horizon-national-fhn-posts-earnings-results-meets-estimates.html.
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.
Featured Article: Channel Trading
Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.