First Horizon National Corporation (FHN) Declares Quarterly Dividend of $0.09

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.

Dividend History for First Horizon National Corporation (NYSE:FHN)

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