Zacks: Analysts Anticipate First Horizon National Corp (NYSE:FHN) to Announce $0.42 EPS
Equities research analysts predict that First Horizon National Corp (NYSE:FHN) will announce $0.42 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for First Horizon National’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.45. First Horizon National reported earnings per share of $0.36 during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 15th.
On average, analysts expect that First Horizon National will report full-year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.66. For the next financial year, analysts forecast that the business will post earnings of $1.62 per share, with EPS estimates ranging from $1.54 to $1.74. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for First Horizon National.
First Horizon National (NYSE:FHN) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. First Horizon National had a net margin of 24.57% and a return on equity of 10.14%. The firm had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $441.32 million. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis.
In other First Horizon National news, CFO William C. Losch III sold 62,846 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $16.00, for a total value of $1,005,536.00. Following the completion of the transaction, the chief financial officer now directly owns 325,901 shares in the company, valued at $5,214,416. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael E. Kisber sold 110,511 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $16.01, for a total transaction of $1,769,281.11. Following the completion of the transaction, the insider now owns 422,227 shares of the company’s stock, valued at $6,759,854.27. The disclosure for this sale can be found here. Insiders have sold 275,616 shares of company stock valued at $4,409,979 over the last 90 days. 1.88% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of First Horizon National by 2.1% in the second quarter. BlackRock Inc. now owns 29,968,737 shares of the financial services provider’s stock worth $447,432,000 after purchasing an additional 616,168 shares during the period. Royal Bank of Canada boosted its position in shares of First Horizon National by 3.8% during the second quarter. Royal Bank of Canada now owns 1,469,619 shares of the financial services provider’s stock worth $21,941,000 after acquiring an additional 53,872 shares during the last quarter. UBS Group AG boosted its position in shares of First Horizon National by 11.6% during the second quarter. UBS Group AG now owns 716,658 shares of the financial services provider’s stock worth $10,700,000 after acquiring an additional 74,644 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of First Horizon National by 15.1% during the second quarter. California Public Employees Retirement System now owns 531,067 shares of the financial services provider’s stock worth $7,929,000 after acquiring an additional 69,771 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of First Horizon National during the second quarter worth $157,000. Institutional investors and hedge funds own 84.51% of the company’s stock.
Shares of FHN remained flat at $$16.32 during mid-day trading on Tuesday. 4,768,988 shares of the stock traded hands, compared to its average volume of 2,848,939. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.95. The business has a 50-day moving average price of $15.84 and a 200-day moving average price of $14.99. First Horizon National has a 1 year low of $12.30 and a 1 year high of $18.34. The company has a market cap of $5.10 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.56 annualized dividend and a yield of 3.43%. First Horizon National’s dividend payout ratio (DPR) is 39.72%.
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.
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