Jefferies Financial Group Comments on First Horizon National Corp’s Q3 2019 Earnings (NYSE:FHN)

First Horizon National Corp (NYSE:FHN) – Jefferies Financial Group lifted their Q3 2019 earnings per share (EPS) estimates for shares of First Horizon National in a report released on Wednesday, July 17th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings of $0.41 per share for the quarter, up from their prior forecast of $0.38. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for First Horizon National’s Q4 2019 earnings at $0.40 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.39 EPS and Q4 2020 earnings at $0.39 EPS.

First Horizon National (NYSE:FHN) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The firm had revenue of $461.60 million for the quarter, compared to the consensus estimate of $441.32 million. First Horizon National had a return on equity of 10.14% and a net margin of 24.57%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

A number of other research firms have also recently issued reports on FHN. ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday. Piper Jaffray Companies began coverage on 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 restated a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Finally, Bank of America upgraded 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, July 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.25.

NYSE FHN opened at $15.95 on Friday. The firm’s 50 day moving average is $14.60. First Horizon National has a fifty-two week low of $12.30 and a fifty-two week high of $19.01. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The company has a market cap of $5.05 billion, a P/E ratio of 11.31, a P/E/G ratio of 2.07 and a beta of 1.27.

A number of large investors have recently made changes to their positions in FHN. Buffington Mohr McNeal acquired a new position in shares of First Horizon National in the first quarter valued at about $30,000. NEXT Financial Group Inc acquired a new stake in First Horizon National during the second quarter worth about $30,000. Old North State Trust LLC grew its holdings in First Horizon National by 643.1% during the first quarter. Old North State Trust LLC now owns 2,378 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 2,058 shares during the period. Trustcore Financial Services LLC acquired a new stake in First Horizon National during the first quarter worth about $41,000. Finally, ETF Managers Group LLC grew its holdings in First Horizon National by 11.4% during the first quarter. ETF Managers Group LLC now owns 7,714 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 792 shares during the period. 87.95% of the stock is currently owned by institutional investors.

In related news, EVP Susan L. Springfield sold 29,625 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $14.89, for a total transaction of $441,116.25. Following the completion of the sale, the executive vice president now directly owns 161,006 shares in the company, valued at approximately $2,397,379.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William C. Losch III sold 62,846 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $16.00, for a total value of $1,005,536.00. Following the sale, the chief financial officer now owns 325,901 shares of the company’s stock, valued at $5,214,416. The disclosure for this sale can be found here. Insiders sold a total of 202,982 shares of company stock valued at $3,215,933 over the last quarter. Company insiders own 1.88% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, June 13th. First Horizon National’s dividend payout ratio is 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.

See Also: Google Finance Portfolio

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

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.