The First Horizon National Corporation (FHN) Receives Consensus Recommendation of “Hold” from Brokerages, Report finds

The First Horizon National Corporation (FHN) Receives Consensus Recommendation of “Hold” from Brokerages, Report finds

FHN has been the subject of several research analyst reports. Jefferies Group LLC raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research report on Monday, November 28th. Barclays PLC boosted their target price on shares of First Horizon National Corporation from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 6th. Wells Fargo & Company raised shares of First Horizon National Corporation from an “underperform” rating to a “market perform” rating in a research report on Monday, January 9th. J P Morgan Chase & Co raised shares of First Horizon National Corporation from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 5th. Finally, Zacks Investment Research raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Monday, December 19th.

First Horizon National Corporation (NYSE:FHN) has been assigned an average recommendation of “Hold” from the ten research firms that are covering the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.50.

In other First Horizon National Corporation news, EVP John M. Daniel sold 28,987 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $19.96, for a total value of $578,580.52. Following the completion of the transaction, the executive vice president now owns 259,042 shares in the company, valued at approximately $5,170,478.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FHN. Carroll Financial Associates Inc. increased its stake in First Horizon National Corporation by 1.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,000 shares of the financial services provider’s stock valued at $106,000 after buying an additional 106 shares during the period. Riverhead Capital Management LLC increased its stake in First Horizon National Corporation by 1,280.7% in the third quarter. Riverhead Capital Management LLC now owns 7,000 shares of the financial services provider’s stock valued at $107,000 after buying an additional 6,493 shares during the period. BlackRock Japan Co. Ltd increased its stake in First Horizon National Corporation by 101,900.0% in the third quarter. BlackRock Japan Co. Ltd now owns 7,140 shares of the financial services provider’s stock valued at $109,000 after buying an additional 7,133 shares during the period. Tower Research Capital LLC TRC increased its stake in First Horizon National Corporation by 1,937.4% in the third quarter. Tower Research Capital LLC TRC now owns 8,231 shares of the financial services provider’s stock valued at $125,000 after buying an additional 7,827 shares during the period. Finally, Elkfork Partners LLC bought a new stake in First Horizon National Corporation during the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 19.73 on Wednesday. The firm has a market cap of $4.61 billion, a P/E ratio of 20.99 and a beta of 1.17. The company has a 50-day moving average of $19.99 and a 200-day moving average of $17.18. First Horizon National Corporation has a 12 month low of $11.66 and a 12 month high of $20.84.

First Horizon National Corporation (NYSE:FHN) last released its earnings results on Friday, January 13th. The financial services provider reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company earned $319.60 million during the quarter, compared to the consensus estimate of $330.89 million. First Horizon National Corporation had a return on equity of 8.73% and a net margin of 16.57%. First Horizon National Corporation’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. Equities analysts forecast that First Horizon National Corporation will post $1.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be given a $0.09 dividend. This is a boost from First Horizon National Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.36 annualized dividend and a yield of 1.82%. First Horizon National Corporation’s dividend payout ratio is 29.79%.

About First Horizon National Corporation

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.

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