First Horizon National Corp (FHN) Given Average Rating of “Buy” by Analysts

First Horizon National Corp (NYSE:FHN) has been assigned an average rating of “Buy” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.65.

Several analysts have issued reports on the company. Zacks Investment Research lowered First Horizon National from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. ValuEngine raised First Horizon National from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Hovde Group raised First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Friday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of First Horizon National in a research note on Friday, July 13th. Finally, Morgan Stanley cut their target price on First Horizon National from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 20th.

In related news, Director Scott M. Niswonger acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was purchased at an average price of $18.20 per share, with a total value of $1,820,000.00. Following the completion of the purchase, the director now owns 639,403 shares in the company, valued at approximately $11,637,134.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman D Bryan Jordan acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $17.76 per share, with a total value of $444,000.00. Following the purchase, the chairman now owns 611,832 shares of the company’s stock, valued at approximately $10,866,136.32. The disclosure for this purchase can be found here. In the last three months, insiders have bought 145,750 shares of company stock valued at $2,602,510. Insiders own 1.75% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FHN. FMR LLC boosted its stake in shares of First Horizon National by 559.4% during the second quarter. FMR LLC now owns 12,480,972 shares of the financial services provider’s stock valued at $222,661,000 after purchasing an additional 10,588,072 shares during the period. Strs Ohio purchased a new stake in First Horizon National in the second quarter worth $19,940,000. Point72 Asset Management L.P. lifted its stake in First Horizon National by 189.5% in the second quarter. Point72 Asset Management L.P. now owns 1,505,916 shares of the financial services provider’s stock worth $26,866,000 after acquiring an additional 985,707 shares during the period. Handelsbanken Fonder AB purchased a new stake in First Horizon National in the second quarter worth $16,056,000. Finally, EJF Capital LLC lifted its stake in First Horizon National by 73.2% in the second quarter. EJF Capital LLC now owns 1,922,500 shares of the financial services provider’s stock worth $34,297,000 after acquiring an additional 812,500 shares during the period. 85.68% of the stock is owned by hedge funds and other institutional investors.

FHN traded down $0.30 during midday trading on Friday, hitting $15.62. The stock had a trading volume of 4,708,100 shares, compared to its average volume of 3,537,435. The firm has a market cap of $5.25 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.09 and a beta of 0.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.91. First Horizon National has a 1 year low of $15.14 and a 1 year high of $20.86.

First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $441.81 million during the quarter, compared to analyst estimates of $448.62 million. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, equities analysts anticipate that First Horizon National will post 1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, September 6th. First Horizon National’s dividend payout ratio (DPR) is presently 43.24%.

About First Horizon National

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.

See Also: How to Invest in the Dividend Aristocrat Index

Analyst Recommendations for First Horizon National (NYSE:FHN)

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply