First Horizon National (NYSE:FHN) Announces Earnings Results

First Horizon National (NYSE:FHN) released its quarterly earnings data on Tuesday. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05, RTT News reports. The company had revenue of $461.60 million during the quarter, compared to the consensus estimate of $441.32 million. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS.

Shares of FHN stock opened at $15.79 on Wednesday. First Horizon National has a 12-month low of $12.30 and a 12-month high of $19.01. The company has a market cap of $4.67 billion, a P/E ratio of 11.20, a P/E/G ratio of 2.04 and a beta of 1.27. The company’s 50-day moving average price is $14.48. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.25.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, June 13th. First Horizon National’s dividend payout ratio is currently 39.72%.

In related news, EVP Susan L. Springfield sold 29,625 shares of First Horizon National stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the completion of the transaction, the executive vice president now directly owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. lifted its holdings in First Horizon National by 1.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 65,380 shares of the financial services provider’s stock valued at $914,000 after purchasing an additional 718 shares during the last quarter. ETF Managers Group LLC increased its position in First Horizon National by 11.4% in the 1st quarter. ETF Managers Group LLC now owns 7,714 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 792 shares in the last quarter. Verity & Verity LLC increased its position in First Horizon National by 4.5% in the 1st quarter. Verity & Verity LLC now owns 22,995 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 995 shares in the last quarter. Pennsylvania Trust Co increased its position in First Horizon National by 0.7% in the 1st quarter. Pennsylvania Trust Co now owns 140,500 shares of the financial services provider’s stock valued at $1,964,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Brooks Moore & Associates Inc. increased its position in First Horizon National by 2.1% in the 1st quarter. Brooks Moore & Associates Inc. now owns 63,504 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 1,300 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on FHN shares. Jefferies Financial Group raised their price objective on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Piper Jaffray Companies started coverage on shares of First Horizon National in a report on Wednesday, July 3rd. They set a “buy” rating and a $18.00 price objective for the company. Stephens reaffirmed a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Bank of America raised shares of First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective for the company in a report on Tuesday. Finally, ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.25.

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 for First Horizon National (NYSE:FHN)

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