First Horizon National Corp (NYSE:FHN) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Friday, June 14th will be given a dividend of 0.14 per share by the financial services provider on Monday, July 1st. This represents a $0.56 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, June 13th.
First Horizon National has increased its dividend payment by an average of 25.1% annually over the last three years and has raised its dividend every year for the last 3 years. First Horizon National has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon National to earn $1.58 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 35.4%.
NYSE FHN opened at $14.54 on Wednesday. First Horizon National has a one year low of $12.30 and a one year high of $19.43. The stock has a market capitalization of $4.42 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.25.
In other First Horizon National 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 value of $441,116.25. Following the transaction, the executive vice president now owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.88% of the company’s stock.
Several brokerages have recently issued reports on FHN. Zacks Investment Research raised First Horizon National from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. ValuEngine raised First Horizon National from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 29th. Stephens reaffirmed a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Jefferies Financial Group cut First Horizon National from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, TheStreet raised First Horizon National from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.00.
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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.
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