Brokerages expect First Horizon National Corp (NYSE:FHN) to announce $441.63 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for First Horizon National’s earnings, with estimates ranging from $436.53 million to $444.80 million. First Horizon National posted sales of $438.46 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The company is expected to issue its next earnings report on Tuesday, July 16th.
On average, analysts expect that First Horizon National will report full-year sales of $1.78 billion for the current fiscal year, with estimates ranging from $1.76 billion to $1.79 billion. For the next fiscal year, analysts expect that the company will report sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.88 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow First Horizon National.
First Horizon National (NYSE:FHN) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The company had revenue of $435.60 million during the quarter, compared to analysts’ expectations of $428.95 million. During the same period last year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis.
In related news, EVP Susan L. Springfield sold 29,625 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the transaction, the executive vice president now owns 161,006 shares of the company’s stock, valued at $2,397,379.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.88% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in First Horizon National by 0.6% during the first quarter. FMR LLC now owns 26,573,376 shares of the financial services provider’s stock worth $371,496,000 after buying an additional 150,026 shares in the last quarter. Nordea Investment Management AB boosted its stake in First Horizon National by 9.7% during the first quarter. Nordea Investment Management AB now owns 296,122 shares of the financial services provider’s stock worth $4,139,000 after buying an additional 26,251 shares in the last quarter. Diversified Trust Co boosted its stake in First Horizon National by 559.5% during the first quarter. Diversified Trust Co now owns 89,660 shares of the financial services provider’s stock worth $1,254,000 after buying an additional 76,065 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in First Horizon National during the first quarter worth $234,000. Finally, Loews Corp boosted its stake in First Horizon National by 10.5% during the first quarter. Loews Corp now owns 18,973 shares of the financial services provider’s stock worth $265,000 after buying an additional 1,800 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FHN traded up $0.07 during mid-day trading on Thursday, reaching $14.27. The company had a trading volume of 3,455,300 shares, compared to its average volume of 3,069,131. The business has a fifty day simple moving average of $14.23. 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 stock has a market capitalization of $4.53 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. First Horizon National has a 12-month low of $12.30 and a 12-month high of $19.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, June 13th. First Horizon National’s payout ratio is presently 39.72%.
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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