First Horizon National (NYSE:FHN) Q1 Results A Penny Below Analysts’ Expects- FHN, RF, BAC, FITB, KEY, HBAN, MS

First Tennessee Bank parent First Horizon National Corporation (NYSE:FHN) announced on Thursday that its Q1 earnings a penny below analysts’ prospects, but the organization’s 12 cent EPS should not be much cause for alarm, according to Kevin Reynolds.

Reynolds, a SVP with Wunderlich Securities Inc., reported that the results should not approach as a surprise, particularly when taking into thought the current interest rate environment.

First Horizon (NYSE:FHN) CFO B.J. Losch echoed that posture in a reply to questions after this morning’s conference call.

Sector analysis, over all sector moved down, Regions Financial Corporation (NYSE:RF) declined -1.45%, Bank of America Corp (NYSE:BAC) lost -1.68%, Fifth Third Bancorp (NASDAQ:FITB) fell -3.07%, KeyCorp (NYSE:KEY) slipped -1.00%, Huntington Bancshares Incorporated (NASDAQ:HBAN) which increased +0.70% and Morgan Stanley (NYSE:MS) moved up +2.32%.

First Horizon National Corporation (NYSE:FHN) dropped -7.83% or -$0.78 to close the trading at $9.18 following it hit intraday high level of $9.63. The total traded volume in the previous trading session was 23.21 million shares as compared to average 6.67 million shares. Its fifty two week trading range was $5.38 – $11.25. The total market capitalization reached $2.34 billion.

 

The stock price was ahead its 52 week low price with 70.92% and it lagged behind -17.96% from its 52 week maximum mark. Stock price volatility for last month remained 3.21%. In its share capital, the company has 254.74 million outstanding shares out of which 252.70 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.99%.

 

FHN presented a negative weekly performance of -10.09% with respect to its rate of return and it remained -14.84% for the month. However, the performance for a quarter experienced a positive change of 4.79% and it slumped -14.68% for a year and its year to date performance remained in green with 14.89%.

 

Current stock price is in the downbeat territory taking into account of 20 days moving average with -10.58% and continued bearish run for 50 days moving average with -7.64%. Its earning per share for the past twelve months was $0.47. Company’s beta coefficient was at 0.87. Beta measures the amount of market risk associated with market trade.

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