First Horizon National Corporation operates as the bank holding company for First Horizon Bank that provides various financial services.
Very undervalued with flawless balance sheet and pays a dividend.
Share Price & News
How has First Horizon National's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FHN's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FHN underperformed the US Banks industry which returned -28.9% over the past year.
Return vs Market: FHN underperformed the US Market which returned -10% over the past year.
Price Volatility Vs. Market
How volatile is First Horizon National's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall StIs First Horizon National Corporation (NYSE:FHN) Potentially Undervalued?
3 weeks ago | Simply Wall StThe Independent Director of First Horizon National Corporation (NYSE:FHN), Scott Niswonger, Just Bought 14% More Shares
4 weeks ago | Simply Wall StWhat Is First Horizon National's (NYSE:FHN) P/E Ratio After Its Share Price Tanked?
Is First Horizon National undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FHN ($8.09) is trading below our estimate of fair value ($18.95)
Significantly Below Fair Value: FHN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FHN is good value based on its PE Ratio (5.8x) compared to the Banks industry average (8.7x).
PE vs Market: FHN is good value based on its PE Ratio (5.8x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: FHN is good value based on its PEG Ratio (0.2x)
Price to Book Ratio
PB vs Industry: FHN is good value based on its PB Ratio (0.5x) compared to the US Banks industry average (0.8x).
How is First Horizon National forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FHN's forecast earnings growth (28.5% per year) is above the savings rate (1.7%).
Earnings vs Market: FHN's earnings (28.5% per year) are forecast to grow faster than the US market (13.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FHN's revenue (18.7% per year) is forecast to grow faster than the US market (7% per year).
High Growth Revenue: FHN's revenue (18.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FHN's Return on Equity is forecast to be low in 3 years time (11.4%).
How has First Horizon National performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FHN has high quality earnings.
Growing Profit Margin: FHN's current net profit margins (23.9%) are lower than last year (27.9%).
Past Earnings Growth Analysis
Earnings Trend: FHN's earnings have grown significantly by 31% per year over the past 5 years.
Accelerating Growth: FHN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FHN had negative earnings growth (-19.3%) over the past year, making it difficult to compare to the Banks industry average (10.8%).
Return on Equity
High ROE: FHN's Return on Equity (8.9%) is considered low.
How is First Horizon National's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: FHN's level of assets compared to its equity is low.
Allowance for Bad Loans: FHN has a sufficient allowance for bad loans.
Low Risk Liabilities: FHN's liabilities are made up of primarily low risk sources of funding.
Loan Level: FHN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FHN's loans are broadly funded by customer deposits.
Level of Bad Loans: FHN has an appropriate level of bad loans (0.54%)
What is First Horizon National's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FHN's dividend (7.42%) is higher than the bottom 25% of dividend payers in the US market (1.93%).
High Dividend: FHN's dividend (7.42%) is in the top 25% of dividend payers in the US market (5.46%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FHN has been paying a dividend for less than 10 years.
Growing Dividend: FHN's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (40.4%), FHN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FHN's dividends in 3 years are forecast to be well covered by earnings (33.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
D. Jordan (57yo)
Mr. D. Bryan Jordan has been President and Director of First Horizon National Corporation (“First Horizon”) since 2008 and has been its Chief Executive Officer since September 2008. In January 1, 2012, he ...
CEO Compensation Analysis
Compensation vs Market: D.'s total compensation ($USD5.55M) is about average for companies of similar size in the US market ($USD5.63M).
Compensation vs Earnings: D.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Executive VP & CFO||11.25yrs||US$2.99m||0.091% $2.3m|
|President of Banking||no data||US$3.48m||0.11% $2.8m|
|President of FHN Financial||9.25yrs||US$4.05m||0.14% $3.5m|
|Executive VP & Chief Information Officer||no data||no data||no data|
|Executive VP and Chief Operating & Risk Officer||2.25yrs||US$1.64m||0.047% $1.2m|
|Executive VP||8.25yrs||no data||0.022% $553.9k|
|Director of Investor Relations||11.25yrs||no data||no data|
|Executive VP & General Counsel||12.25yrs||US$1.43m||0.072% $1.8m|
|Executive VP & Chief Communications Officer||2.25yrs||no data||no data|
Experienced Management: FHN's management team is seasoned and experienced (10.3 years average tenure).
|Independent Director||27.25yrs||US$226.09k||0.016% $392.7k|
|Lead Independent Director||no data||US$240.51k||0.033% $822.0k|
|Independent Director||8.5yrs||US$195.51k||0.28% $7.0m|
|Independent Director||18.5yrs||US$181.01k||0.013% $338.5k|
|Independent Director||9.17yrs||US$180.51k||0.024% $602.6k|
|Independent Director||11.42yrs||US$219.51k||0.017% $430.3k|
|Independent Director||7.75yrs||US$195.51k||0.023% $577.1k|
|Vice Chairman of the Board||2.42yrs||US$1.47m||0.38% $9.5m|
|Independent Director||5.5yrs||US$180.51k||0.0048% $120.8k|
Experienced Board: FHN's board of directors are considered experienced (8.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FHN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
First Horizon National Corporation's company bio, employee growth, exchange listings and data sources
- Name: First Horizon National Corporation
- Ticker: FHN
- Exchange: NYSE
- Founded: 1864
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$2.522b
- Shares outstanding: 311.79m
- Website: https://www.firsthorizon.com
Number of Employees
- First Horizon National Corporation
- 165 Madison Avenue
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FHN||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jan 1980|
|FT2||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1980|
|FHN.PRA||NYSE (New York Stock Exchange)||DEP SHS||US||USD||Jan 2013|
First Horizon National Corporation operates as the bank holding company for First Horizon Bank 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. It is also involved in the underwriting of bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; loan sales; derivative sales; and provision of advisory services. In addition, the company offers brokerage services; correspondent banking services; transaction processing services comprising nationwide check clearing and remittance processing; trust, fiduciary, and agency services; credit card products; equipment finance; investment and financial advisory services; and wealth management services. Further, it engages in mutual fund and retail insurance sales, as well as provides mortgage banking services. As of January 17, 2020, the company operated approximately 270 branches under the First Horizon Bank brand in the Southeast United States; and 29 offices in 18 states across the United States under the FHN Financial brand. The company was founded in 1864 and is headquartered in Memphis, Tennessee.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/08 04:54|
|End of Day Share Price||2020/04/07 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.