Q2 2017 Earnings Forecast for First Horizon National Corporation Issued By Jefferies Group (FHN)

First Horizon National Corporation (NYSE:FHN) – Equities research analysts at Jefferies Group cut their Q2 2017 earnings per share (EPS) estimates for shares of First Horizon National Corporation in a report released on Wednesday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.28.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. First Horizon National Corporation had a return on equity of 8.89% and a net margin of 16.92%. The firm had revenue of $306.65 million for the quarter, compared to analysts’ expectations of $324.31 million. During the same period in the prior year, the business posted $0.20 earnings per share. The company’s revenue was up .1% on a year-over-year basis.

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Several other analysts also recently issued reports on the company. Deutsche Bank AG reissued a “hold” rating on shares of First Horizon National Corporation in a research note on Monday. BidaskClub raised First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. ValuEngine raised First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 target price on shares of First Horizon National Corporation in a research note on Monday, June 12th. Finally, Stephens reissued a “hold” rating on shares of First Horizon National Corporation in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. First Horizon National Corporation currently has a consensus rating of “Hold” and an average price target of $18.93.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 17.47 on Friday. First Horizon National Corporation has a 12 month low of $12.86 and a 12 month high of $20.84. The company has a market capitalization of $4.09 billion, a PE ratio of 18.01 and a beta of 1.06. The stock’s 50 day moving average price is $17.35 and its 200 day moving average price is $18.86.

A number of hedge funds have recently added to or reduced their stakes in FHN. BlackRock Inc. increased its stake in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares during the last quarter. State Street Corp increased its stake in First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares during the last quarter. Norges Bank purchased a new stake in First Horizon National Corporation during the fourth quarter worth about $40,661,000. Parnassus Investments CA increased its stake in First Horizon National Corporation by 33.3% in the first quarter. Parnassus Investments CA now owns 5,000,000 shares of the financial services provider’s stock worth $92,500,000 after buying an additional 1,250,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares during the last quarter. 86.54% of the stock is currently owned by institutional investors and hedge funds.

In other First Horizon National Corporation news, Director Vicki R. Palmer sold 5,211 shares of First Horizon National Corporation stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total value of $91,974.15. Following the sale, the director now owns 57,818 shares of the company’s stock, valued at approximately $1,020,487.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.09% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Wednesday, June 7th. First Horizon National Corporation’s payout ratio is 37.11%.

About First Horizon National Corporation

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.

Earnings History and Estimates for First Horizon National Corporation (NYSE:FHN)

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