Trade Report: The First Horizon National Corp. (FHN) to Post Q4 2016 Earnings of $0.25 Per Share, Jefferies Group Forecasts

The First Horizon National Corp. (FHN) to Post Q4 2016 Earnings of $0.25 Per Share, Jefferies Group Forecasts

First Horizon National Corp. (NYSE:FHN) – Equities researchers at Jefferies Group lowered their Q4 2016 earnings per share estimates for First Horizon National Corp. in a research report issued on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the brokerage will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.26. Jefferies Group also issued estimates for First Horizon National Corp.’s Q1 2017 earnings at $0.23 EPS.

Several other research analysts have also issued reports on the company. Zacks Investment Research raised First Horizon National Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, October 4th. Deutsche Bank AG increased their target price on First Horizon National Corp. from $13.50 to $15.50 and gave the stock a “hold” rating in a research report on Monday, September 26th. Wells Fargo & Co. lowered First Horizon National Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 23rd. Hovde Group lowered First Horizon National Corp. from an “outperform” rating to a “market perform” rating and set a $16.50 price objective for the company. in a research report on Monday, September 26th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $15.50 price objective on shares of First Horizon National Corp. in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. First Horizon National Corp. presently has an average rating of “Hold” and a consensus price target of $15.50.

Shares of First Horizon National Corp. (NYSE:FHN) traded down 2.65% during mid-day trading on Thursday, hitting $15.07. The company’s stock had a trading volume of 1,863,830 shares. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 17.09 and a beta of 1.16. First Horizon National Corp. has a 52-week low of $11.51 and a 52-week high of $15.83. The stock’s 50 day moving average price is $15.23 and its 200 day moving average price is $14.36.

First Horizon National Corp. (NYSE:FHN) last issued its earnings results on Friday, July 15th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $321.78 million for the quarter. First Horizon National Corp. had a return on equity of 8.84% and a net margin of 17.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in First Horizon National Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 17,259,984 shares of the financial services provider’s stock worth $237,842,000 after buying an additional 679,074 shares during the period. BlackRock Fund Advisors increased its position in First Horizon National Corp. by 1.7% in the second quarter. BlackRock Fund Advisors now owns 8,577,574 shares of the financial services provider’s stock worth $118,199,000 after buying an additional 145,182 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in First Horizon National Corp. by 8.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,349,946 shares of the financial services provider’s stock worth $101,282,000 after buying an additional 576,009 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in First Horizon National Corp. by 19.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 5,455,922 shares of the financial services provider’s stock worth $75,183,000 after buying an additional 905,461 shares during the period. Finally, Citadel Advisors LLC increased its position in First Horizon National Corp. by 110.3% in the second quarter. Citadel Advisors LLC now owns 5,415,762 shares of the financial services provider’s stock worth $74,630,000 after buying an additional 2,840,255 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

In other news, insider David T. Popwell sold 110,422 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $15.12, for a total value of $1,669,580.64. Following the transaction, the insider now directly owns 299,844 shares in the company, valued at approximately $4,533,641.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Yousef A. Valine sold 59,196 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $15.05, for a total value of $890,899.80. Following the completion of the transaction, the executive vice president now owns 219,642 shares in the company, valued at $3,305,612.10. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a $0.07 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.81%. First Horizon National Corp.’s dividend payout ratio (DPR) is currently 30.11%.

About First Horizon National Corp.

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