$337.41 Million in Sales Expected for First Horizon National Corp (FHN) This Quarter

Analysts expect First Horizon National Corp (NYSE:FHN) to post sales of $337.41 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for First Horizon National Corp’s earnings, with the lowest sales estimate coming in at $326.05 million and the highest estimate coming in at $345.4 million. First Horizon National Corp reported sales of $321.78 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The business is scheduled to announce its next earnings report on Friday, July 21st.

On average, analysts expect that First Horizon National Corp will report full-year sales of $337.41 million for the current financial year, with estimates ranging from $1.41 billion to $1.47 billion. For the next fiscal year, analysts expect that the business will report sales of $1.91 billion per share, with estimates ranging from $1.89 billion to $1.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for First Horizon National Corp.

First Horizon National Corp (NYSE:FHN) last issued its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. The company had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $324.31 million. First Horizon National Corp had a return on equity of 8.73% and a net margin of 16.57%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share.

FHN has been the subject of several recent analyst reports. Zacks Investment Research downgraded First Horizon National Corp from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Vining Sparks upgraded First Horizon National Corp to an “outperform” rating in a research report on Tuesday, April 18th. JMP Securities initiated coverage on First Horizon National Corp in a research report on Thursday, February 2nd. They set a “market perform” rating for the company. Stephens restated a “hold” rating on shares of First Horizon National Corp in a research report on Monday, April 17th. Finally, Barclays PLC dropped their price objective on First Horizon National Corp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.93.

First Horizon National Corp (NYSE:FHN) opened at 17.90 on Wednesday. The firm’s 50 day moving average price is $18.37 and its 200-day moving average price is $18.92. First Horizon National Corp has a one year low of $12.46 and a one year high of $20.84. The company has a market capitalization of $4.19 billion, a PE ratio of 18.45 and a beta of 1.17.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.99%. First Horizon National Corp’s dividend payout ratio (DPR) is 29.79%.

Institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC increased its position in shares of First Horizon National Corp by 184.4% in the third quarter. Chicago Equity Partners LLC now owns 47,920 shares of the financial services provider’s stock worth $730,000 after buying an additional 31,070 shares during the period. BRC Investment Management LLC bought a new position in shares of First Horizon National Corp during the third quarter worth about $3,840,000. Timber Hill LLC bought a new position in shares of First Horizon National Corp during the third quarter worth about $499,000. US Bancorp DE increased its position in shares of First Horizon National Corp by 5.4% in the third quarter. US Bancorp DE now owns 15,121 shares of the financial services provider’s stock worth $230,000 after buying an additional 781 shares during the period. Finally, BlackRock Advisors LLC increased its position in shares of First Horizon National Corp by 1.9% in the third quarter. BlackRock Advisors LLC now owns 131,276 shares of the financial services provider’s stock worth $1,999,000 after buying an additional 2,400 shares during the period. Institutional investors own 81.70% of the company’s stock.

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About First Horizon National Corp

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.

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