First Horizon National Corporation (NYSE:FHN) posted its earnings results on Friday. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02, RTT News reports. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. During the same period in the prior year, the business earned $0.27 EPS.
Shares of First Horizon National Corporation (NYSE FHN) opened at 18.81 on Friday. The stock has a market cap of $4.40 billion, a PE ratio of 16.95 and a beta of 1.05. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84. The firm has a 50-day moving average price of $17.97 and a 200-day moving average price of $17.78.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.
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In other news, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the completion of the transaction, the chief financial officer now owns 275,497 shares of the company’s stock, valued at approximately $5,132,509.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the transaction, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.
A number of analysts have commented on FHN shares. BidaskClub upgraded First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Raymond James Financial, Inc. upgraded First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, September 18th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 price target on shares of First Horizon National Corporation in a research report on Tuesday, October 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $20.00 price target on shares of First Horizon National Corporation in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.44.
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.
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