First Horizon National Corp (FHN) to Post Q3 2018 Earnings of $0.34 Per Share, Jefferies Financial Group Forecasts

First Horizon National Corp (NYSE:FHN) – Investment analysts at Jefferies Financial Group dropped their Q3 2018 earnings per share estimates for First Horizon National in a research report issued to clients and investors on Monday, October 8th. Jefferies Financial Group analyst C. Haire now forecasts that the financial services provider will earn $0.34 per share for the quarter, down from their prior forecast of $0.37. Jefferies Financial Group has a “Buy” rating and a $22.00 price objective on the stock. Jefferies Financial Group also issued estimates for First Horizon National’s FY2019 earnings at $1.53 EPS.

Other analysts have also recently issued research reports about the company. SunTrust Banks reduced their price objective on First Horizon National to $20.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Stephens reiterated a “$17.03” rating and set a $18.50 price objective on shares of First Horizon National in a research report on Wednesday, July 18th. Barclays reduced their price objective on First Horizon National from $23.00 to $21.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Royal Bank of Canada reduced their price objective on First Horizon National from $21.00 to $19.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Finally, Keefe, Bruyette & Woods reduced their price objective on First Horizon National from $23.00 to $22.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.82.

First Horizon National stock opened at $17.31 on Tuesday. The firm has a market cap of $5.61 billion, a P/E ratio of 15.59, a PEG ratio of 1.04 and a beta of 0.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.91. First Horizon National has a one year low of $16.51 and a one year high of $20.86.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The company had revenue of $438.46 million during the quarter, compared to analysts’ expectations of $447.95 million. First Horizon National had a return on equity of 9.64% and a net margin of 10.74%.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 6th. First Horizon National’s dividend payout ratio is presently 43.24%.

In related news, Director Mark A. Emkes purchased 5,000 shares of the business’s stock in a transaction on Wednesday, July 25th. The stock was acquired at an average price of $17.68 per share, with a total value of $88,400.00. Following the completion of the acquisition, the director now owns 57,996 shares of the company’s stock, valued at approximately $1,025,369.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott M. Niswonger purchased 100,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were bought at an average cost of $18.20 per share, with a total value of $1,820,000.00. Following the acquisition, the director now directly owns 639,403 shares of the company’s stock, valued at approximately $11,637,134.60. The disclosure for this purchase can be found here. Insiders have acquired 130,000 shares of company stock valued at $2,352,400 in the last three months. 1.75% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of First Horizon National by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 3,776,680 shares of the financial services provider’s stock worth $67,377,000 after acquiring an additional 23,773 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of First Horizon National by 72.6% in the second quarter. Public Employees Retirement System of Ohio now owns 163,177 shares of the financial services provider’s stock worth $2,911,000 after acquiring an additional 68,649 shares during the period. Nomura Holdings Inc. bought a new position in shares of First Horizon National in the second quarter worth about $542,000. Jane Street Group LLC bought a new position in shares of First Horizon National in the second quarter worth about $277,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of First Horizon National in the second quarter worth about $148,000. 85.70% of the stock is owned by institutional investors and hedge funds.

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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