FHN First Horizon National Corp.
First Horizon National Corp. operates as a financial holding company, which offers checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Fixed Income, Corporate, and Non-strategic. The Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers. The Fixed Income segment provides financial services for depository and non depository institutions through the sale and distribution of fixed income securities, loan sales, portfolio advisory services, and derivative sales. The Corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, gains on the extinguishment of debt, acquisition-related costs, and various charges related to restructuring and repositioning. The Non-strategic segment includes wind down national consumer lending activities, loan portfolios, service lines and other discontinued products. The company was founded by Frank S. Davis in 1864 and is headquartered in Memphis, TN.
Company profile
Ticker
FHN
Exchange
Website
CEO
D. Bryan Jordan
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Former names
First Tennessee National Corp
SEC CIK
Corporate docs
IRS number
620803242
Calendar
28 Feb 20
5 Apr 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Dec 19 | Sep 19 | Jun 19 | Mar 19 | |
|---|---|---|---|---|---|
| Revenue | 484.7M | 457.41M | 448.6M | 426.55M | |
| Net income | 118.37M | 111.06M | 110.89M | 100.59M | |
| Diluted EPS | 0.38 | 0.35 | 0.35 | 0.31 | |
| Net profit margin | 24.42% | 24.28% | 24.72% | 23.58% | |
| Net change in cash | -228.79M | ||||
| Cash on hand | 1.27B | 1.5B |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 1.82B | 1.94B | 1.33B | 1.27B | |
| Net income | 440.91M | 545.04M | 165.52M | 227.05M | |
| Diluted EPS | 1.38 | 1.65 | 0.65 | 0.94 | |
| Net profit margin | 24.26% | 28.15% | 12.42% | 17.87% | |
| Operating income* | |||||
| Net change in cash | -138.43M | -46.72M | 414.25M | ||
| Cash on hand | 1.27B | 1.41B | 1.45B | 1.04B |
Financial data from company earnings reports. *Asterisk values are approximate.
Recent insider trades
| Date | Owner | Security | Transaction | Code | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|
| 13 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.38 | 7,791 | 73.08K | 871,273 |
| 13 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.375 | 200 | 1.88K | 863,482 |
| 13 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.4 | 41,009 | 385.48K | 863,282 |
| 13 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.395 | 800 | 7.52K | 822,273 |
| 13 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.3975 | 200 | 1.88K | 821,473 |
| 12 Mar 20 | Niswonger Scott M | Common Stock | Buy | Aquire P | 9.077 | 100,000 | 907.7K | 821,273 |
| 12 Mar 20 | Kenneth A Burdick | Common Stock | Buy | Aquire P | 8.95 | 5,000 | 44.75K | 14,760 |
| 2 Mar 20 | Michael E Kisber | Common Stock | Payment of exercise | Dispose F | 14.05 | 9,973 | 140.12K | 438,663 |
| 2 Mar 20 | David T Popwell | Common Stock | Payment of exercise | Dispose F | 14.05 | 6,981 | 98.08K | 414,566 |
| 2 Mar 20 | David T Popwell | Common Stock | Payment of exercise | Dispose F | 14.05 | 5,511 | 77.43K | 421,547 |
Institutional ownership Q4 2019
88.0% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 374 |
| Opened positions | 61 |
| Closed positions | 59 |
| Increased positions | 134 |
| Reduced positions | 125 |
13F shares |
Current |
|---|---|
| Total value | 28.46B |
| Total shares | 273.81M |
| Total puts | 124.4K |
| Total calls | 112.9K |
| Total put/call ratio | 1.1 |
Largest owners |
Shares | Value |
|---|---|---|
| BLK BlackRock | 36.41M | $602.89M |
| Vanguard | 31.19M | $516.46M |
| FMR | 18.15M | $300.6M |
| BEN Franklin Resources | 16.27M | $269.51M |
| Fuller & Thaler Asset Management | 13.66M | $226.18M |
| STT State Street | 12.33M | $205.85M |
| Parnassus Investments | 9.33M | $154.49M |
| JPM JPMorgan Chase & Co. | 8.22M | $136.17M |
| Dimensional Fund Advisors | 6.64M | $109.98M |
| LSV Asset Management | 5.09M | $84.23M |
Financial report summary
?Management Discussion
- FHN reported net income available to common shareholders of $434.7 million, or $1.38 per diluted share, compared to net income of $538.8 million, or $1.65 per diluted share in 2018. In 2019, operating results were impacted by a modest decrease in net interest income and lower noninterest income compared to the prior year. In 2018, operating results were favorably impacted by a $212.9 million pre-tax gain from the sale of FHN’s remaining Visa Class B shares. In 2019, FHN invested in strategic initiatives, which led to restructuring, rebranding and acquisition-related expenses. Various factors that significantly impacted reported earnings in 2019 included the steady economic environment, efficiency initiatives, prudent investments in key markets as well as strength in our countercyclical fixed income business. Strategic transactions are expected to boost growth, returns and profitability.
Content analysis
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| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
8th grade Avg
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New words:
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Financial reports
10-K
2019 FY
Annual report
28 Feb 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
10-Q
2019 Q1
Quarterly report
8 May 19
10-K
2018 FY
Annual report
28 Feb 19
10-Q
2018 Q3
Quarterly report
7 Nov 18
10-Q
2018 Q2
Quarterly report
7 Aug 18
10-Q
2018 Q1
Quarterly report
8 May 18
10-K
2017 FY
Annual report
28 Feb 18
10-Q
2017 Q3
Quarterly report
7 Nov 17
Current reports
8-K
Amendments to Articles of Incorporation or Bylaws
3 Feb 20
8-K
Results of Operations and Financial Condition
17 Jan 20
8-K
First Horizon Releases 2019 Fourth Quarter and Full Year Financial Results
17 Jan 20
8-K
First Horizon to Expand Branch Network in Key Growth Markets
8 Nov 19
8-K
Entry into a Material Definitive Agreement
7 Nov 19
8-K
First Horizon National Corporation and IBERIABANK Corporation to Combine in Merger of Equals to Create a Leading Regional Financial Services Company
4 Nov 19
8-K
Results of Operations and Financial Condition
16 Oct 19
8-K
First Horizon Reports Third Quarter Results and Highlights
16 Oct 19
8-K
Results of Operations and Financial Condition
16 Jul 19
8-K
First Horizon Reports Second Quarter Results and Highlights
16 Jul 19
Registration and prospectus
424B3
Prospectus supplement
19 Mar 20
S-4/A
Registration of securities issued in business combination transactions (amended)
17 Mar 20
425
Business combination disclosure
16 Mar 20
S-4/A
Registration of securities issued in business combination transactions (amended)
9 Mar 20
S-4/A
Registration of securities issued in business combination transactions (amended)
10 Feb 20
425
Business combination disclosure
21 Jan 20
425
Business combination disclosure
21 Jan 20
425
Business combination disclosure
17 Jan 20
425
Business combination disclosure
17 Jan 20
425
Business combination disclosure
13 Dec 19
Proxies
DEFA14A
Additional proxy soliciting materials
16 Mar 20
DEF 14A
Definitive proxy
16 Mar 20
DEFA14A
Additional proxy soliciting materials
11 Mar 19
DEF 14A
Definitive proxy
11 Mar 19
DEFA14A
Additional proxy soliciting materials
16 Apr 18
DEFA14A
Additional proxy soliciting materials
13 Apr 18
DEF 14A
Definitive proxy
12 Mar 18
DEFA14A
Additional proxy soliciting materials
12 Mar 18
PRE 14A
Preliminary proxy
21 Feb 18
DEFA14A
Additional proxy soliciting materials
4 May 17
Other
EFFECT
Notice of effectiveness
20 Mar 20
EFFECT
Notice of effectiveness
28 Jul 17
CORRESP
Correspondence with SEC
27 Jul 17
UPLOAD
Letter from SEC
13 Jul 17
UPLOAD
Letter from SEC
15 Jul 15
CORRESP
Correspondence with SEC
2 Jul 15
UPLOAD
Letter from SEC
19 Jun 15
EFFECT
Notice of effectiveness
18 Mar 15
UPLOAD
Letter from SEC
15 Oct 14
CORRESP
Correspondence with SEC
10 Oct 14
Ownership
4
FIRST HORIZON NATIONAL / SCOTT M NISWONGER ownership change
16 Mar 20
4
FIRST HORIZON NATIONAL / Kenneth A Burdick ownership change
13 Mar 20
4
FIRST HORIZON NATIONAL / SCOTT M NISWONGER ownership change
12 Mar 20
4
FIRST HORIZON NATIONAL / Michael E Kisber ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / DAVID T POPWELL ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / William C Losch III ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / D BRYAN JORDAN ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / Charles T Tuggle Jr ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / Susan L Springfield ownership change
3 Mar 20
4
FIRST HORIZON NATIONAL / John M Daniel ownership change
3 Mar 20