First Horizon National Corporation (NYSE:FHN) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders of record on Friday, September 8th will be paid a dividend of 0.09 per share by the financial services provider on Monday, October 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, September 7th.
First Horizon National Corporation has raised its dividend by an average of 19.1% annually over the last three years. First Horizon National Corporation has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon National Corporation to earn $1.30 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 27.7%.
Shares of First Horizon National Corporation (FHN) traded down 1.09% during trading on Friday, reaching $17.25. 2,497,293 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $17.54 and its 200-day moving average price is $18.36. First Horizon National Corporation has a 52-week low of $14.60 and a 52-week high of $20.84. The stock has a market cap of $4.04 billion, a PE ratio of 15.54 and a beta of 1.06.
First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The firm had revenue of $328.37 million during the quarter, compared to analysts’ expectations of $331.27 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that First Horizon National Corporation will post $1.10 EPS for the current year.
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FHN has been the subject of several recent analyst reports. Deutsche Bank AG reiterated a “hold” rating on shares of First Horizon National Corporation in a research report on Monday, July 3rd. Stephens reissued a “hold” rating on shares of First Horizon National Corporation in a research note on Thursday, May 4th. Hovde Group cut their target price on shares of First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating on the stock in a research note on Monday, April 17th. ValuEngine raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price objective on shares of First Horizon National Corporation in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.57.
In related news, Director Vicki R. Palmer sold 5,211 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the sale, the director now owns 57,818 shares in the company, valued at $1,020,487.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.09% of the company’s stock.
First Horizon National Corporation Company Profile
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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