Equities Analysts Set Expectations for First Horizon National Corporation’s Q1 2018 Earnings (FHN)

First Horizon National Corporation (NYSE:FHN) – Jefferies Group issued their Q1 2018 earnings estimates for First Horizon National Corporation in a report released on Monday. Jefferies Group analyst C. Haire expects that the financial services provider will earn $0.26 per share for the quarter. Jefferies Group also issued estimates for First Horizon National Corporation’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.34 EPS and Q4 2018 earnings at $0.36 EPS.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The business had revenue of $328.37 million during the quarter, compared to analysts’ expectations of $331.27 million. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.

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FHN has been the subject of a number of other research reports. Deutsche Bank AG reissued a “hold” rating on shares of First Horizon National Corporation in a research report on Monday, July 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 target price on shares of First Horizon National Corporation in a research report on Monday, April 10th. Stephens reissued a “hold” rating on shares of First Horizon National Corporation in a research report on Thursday, May 4th. Zacks Investment Research downgraded shares of First Horizon National Corporation from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Finally, Hovde Group dropped their target price on shares of First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating for the company in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. First Horizon National Corporation has a consensus rating of “Hold” and a consensus price target of $19.57.

Shares of First Horizon National Corporation (NYSE FHN) traded down 1.097% on Wednesday, hitting $17.585. 1,100,609 shares of the company were exchanged. The firm has a market cap of $4.12 billion, a P/E ratio of 15.842 and a beta of 1.06. First Horizon National Corporation has a 52-week low of $14.29 and a 52-week high of $20.84. The company has a 50-day moving average price of $17.47 and a 200 day moving average price of $18.61.

The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, June 7th. First Horizon National Corporation’s payout ratio is currently 32.43%.

In other news, Director Vicki R. Palmer sold 5,211 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the sale, the director now owns 57,818 shares of the company’s stock, valued at $1,020,487.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares during the last quarter. Vanguard Group Inc. increased its stake in First Horizon National Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 19,236,997 shares of the financial services provider’s stock worth $355,884,000 after buying an additional 1,039,986 shares during the last quarter. State Street Corp increased its stake in First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares during the last quarter. JPMorgan Chase & Co. increased its stake in First Horizon National Corporation by 20.0% in the first quarter. JPMorgan Chase & Co. now owns 6,407,836 shares of the financial services provider’s stock worth $118,546,000 after buying an additional 1,066,846 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares during the last quarter. 86.22% of the stock is owned by institutional investors and hedge funds.

About First Horizon National Corporation

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.

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

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