Q1 2019 Earnings Forecast for First Horizon National Corp (FHN) Issued By SunTrust Banks

First Horizon National Corp (NYSE:FHN) – Analysts at SunTrust Banks increased their Q1 2019 EPS estimates for First Horizon National in a research note issued to investors 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 forecast 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 Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.42 EPS, FY2019 earnings at $1.62 EPS, Q1 2020 earnings at $0.41 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.45 EPS and FY2020 earnings at $1.75 EPS.

FHN has been the subject of a number of other research reports. ValuEngine cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Morgan Stanley dropped their target price on shares of First Horizon National from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. Barclays dropped their target price on shares of 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. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 target price on shares of First Horizon National in a research report on Friday, July 13th. Finally, Royal Bank of Canada dropped their target price on shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.82.

Shares of First Horizon National stock opened at $16.31 on Thursday. The stock has a market cap of $5.42 billion, a P/E ratio of 12.26, a PEG ratio of 1.13 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.26. First Horizon National has a 12-month low of $14.94 and a 12-month high of $20.86.

First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. First Horizon National had a net margin of 18.17% and a return on equity of 9.60%. The company had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $448.62 million. During the same quarter in the prior year, the company posted $0.32 EPS.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in First Horizon National by 0.3% in the 2nd quarter. BlackRock Inc. now owns 29,920,825 shares of the financial services provider’s stock valued at $533,786,000 after acquiring an additional 93,719 shares in the last quarter. FMR LLC increased its position in First Horizon National by 56.1% in the 3rd quarter. FMR LLC now owns 19,482,189 shares of the financial services provider’s stock valued at $336,262,000 after acquiring an additional 7,001,217 shares in the last quarter. JPMorgan Chase & Co. increased its position in First Horizon National by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,152,621 shares of the financial services provider’s stock valued at $123,455,000 after acquiring an additional 192,610 shares in the last quarter. Parnassus Investments CA increased its position in First Horizon National by 5.5% in the 2nd quarter. Parnassus Investments CA now owns 6,559,737 shares of the financial services provider’s stock valued at $117,026,000 after acquiring an additional 340,740 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in First Horizon National by 13.1% in the 2nd quarter. Janus Henderson Group PLC now owns 5,855,430 shares of the financial services provider’s stock valued at $104,461,000 after acquiring an additional 677,288 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

In related news, EVP Yousef A. Valine acquired 3,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was purchased at an average price of $16.29 per share, for a total transaction of $48,870.00. Following the transaction, the executive vice president now owns 182,363 shares of the company’s stock, valued at approximately $2,970,693.27. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott M. Niswonger acquired 50,000 shares of the stock in a transaction on Friday, October 19th. The stock was bought at an average price of $15.76 per share, with a total value of $788,000.00. Following the transaction, the director now directly owns 640,951 shares in the company, valued at approximately $10,101,387.76. The disclosure for this purchase can be found here. Insiders acquired a total of 68,750 shares of company stock valued at $1,086,980 in the last 90 days. Corporate insiders own 1.75% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, December 13th. First Horizon National’s payout ratio 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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