First Horizon National (FHN) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of First Horizon National (NYSE:FHN) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat reports.

A number of other analysts have also weighed in on the company. TheStreet lowered First Horizon National from a b- rating to a c+ rating in a research note on Thursday, December 27th. Robert W. Baird began coverage on First Horizon National in a research note on Thursday, December 20th. They set a neutral rating on the stock. Morgan Stanley cut their price target on First Horizon National from $19.00 to $18.00 and set an equal weight rating on the stock in a research note on Tuesday, December 11th. Deutsche Bank upgraded First Horizon National from a hold rating to a buy rating and set a $20.50 price target on the stock in a research note on Monday, November 12th. Finally, ValuEngine lowered First Horizon National from a sell rating to a strong sell rating in a research note on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. First Horizon National presently has a consensus rating of Hold and a consensus target price of $20.15.

FHN stock opened at $14.19 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.94. First Horizon National has a twelve month low of $12.30 and a twelve month high of $20.75. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 0.85 and a beta of 1.10.

First Horizon National (NYSE:FHN) last released its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. The business had revenue of $441.81 million for the quarter, compared to analyst estimates of $448.62 million. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that First Horizon National will post 1.42 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 3.38%. First Horizon National’s dividend payout ratio is currently 43.24%.

In related news, Director Scott M. Niswonger acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $15.76 per share, with a total value of $788,000.00. Following the completion of the transaction, the director now directly owns 640,951 shares in the company, valued at $10,101,387.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David T. Popwell acquired 15,750 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The shares were bought at an average cost of $15.88 per share, for a total transaction of $250,110.00. Following the transaction, the insider now owns 283,692 shares of the company’s stock, valued at $4,505,028.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 93,750 shares of company stock worth $1,450,730. Insiders own 1.75% of the company’s stock.

A number of hedge funds have recently modified their holdings of FHN. FMR LLC boosted its position in 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 in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in First Horizon National by 21.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 14,669,760 shares of the financial services provider’s stock valued at $253,200,000 after purchasing an additional 2,617,314 shares in the last quarter. EJF Capital LLC boosted its position in First Horizon National by 90.3% during the third quarter. EJF Capital LLC now owns 3,657,814 shares of the financial services provider’s stock valued at $63,134,000 after purchasing an additional 1,735,314 shares in the last quarter. NWQ Investment Management Company LLC boosted its position in First Horizon National by 48.8% during the third quarter. NWQ Investment Management Company LLC now owns 4,640,319 shares of the financial services provider’s stock valued at $76,101,000 after purchasing an additional 1,521,079 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in First Horizon National by 54.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,640,707 shares of the financial services provider’s stock valued at $62,838,000 after purchasing an additional 1,281,532 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors.

First Horizon National Company Profile

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.

Recommended Story: How does a reverse stock split work?

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