First Horizon National Corporation (FHN) Receives “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of First Horizon National Corporation (NYSE:FHN) in a report published on Wednesday morning. They currently have a $20.00 price target on the financial services provider’s stock, up from their previous price target of $19.50.

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a buy rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of First Horizon National Corporation from a buy rating to a sell rating in a report on Tuesday, September 19th. J P Morgan Chase & Co reissued a buy rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a report on Wednesday, September 13th. ValuEngine downgraded shares of First Horizon National Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of First Horizon National Corporation from a strong sell rating to a sell rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $19.44.

First Horizon National Corporation (NYSE FHN) traded down 0.21% during mid-day trading on Wednesday, hitting $19.22. 2,665,140 shares of the stock traded hands. The company’s 50 day moving average price is $17.73 and its 200-day moving average price is $17.75. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 17.32 and a beta of 1.05. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $328.37 million for the quarter, compared to the consensus estimate of $331.27 million. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Analysts predict that First Horizon National Corporation will post $1.10 earnings per share for the current year.

WARNING: This story was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://ledgergazette.com/2017/10/08/first-horizon-national-corporation-fhn-receives-equal-weight-rating-from-morgan-stanley.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s payout ratio is currently 32.43%.

In other news, CFO William C. Losch III sold 45,107 shares of First Horizon National Corporation stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the sale, the chief financial officer now owns 275,497 shares in the company, valued at $5,132,509.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William C. Losch III sold 3,500 shares of First Horizon National Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the sale, the chief financial officer now owns 233,890 shares in the company, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FHN. UBS Asset Management Americas Inc. raised its position in shares of First Horizon National Corporation by 16.1% during the first quarter. UBS Asset Management Americas Inc. now owns 170,756 shares of the financial services provider’s stock valued at $3,159,000 after buying an additional 23,691 shares during the last quarter. Sei Investments Co. increased its position in First Horizon National Corporation by 1.7% in the first quarter. Sei Investments Co. now owns 60,438 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 996 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in First Horizon National Corporation by 83.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,947 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 9,962 shares during the last quarter. Nordea Investment Management AB bought a new stake in First Horizon National Corporation in the first quarter worth $1,454,000. Finally, M&T Bank Corp increased its position in First Horizon National Corporation by 32.2% in the first quarter. M&T

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a buy rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of First Horizon National Corporation from a buy rating to a sell rating in a report on Tuesday, September 19th. J P Morgan Chase & Co reissued a buy rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a report on Wednesday, September 13th. ValuEngine downgraded shares of First Horizon National Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of First Horizon National Corporation from a strong sell rating to a sell rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $19.44.

First Horizon National Corporation (NYSE FHN) traded down 0.21% during mid-day trading on Wednesday, hitting $19.22. 2,665,140 shares of the stock traded hands. The company’s 50 day moving average price is $17.73 and its 200-day moving average price is $17.75. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 17.32 and a beta of 1.05. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $328.37 million for the quarter, compared to the consensus estimate of $331.27 million. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Analysts predict that First Horizon National Corporation will post $1.10 earnings per share for the current year.

WARNING: This story was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://ledgergazette.com/2017/10/08/first-horizon-national-corporation-fhn-receives-equal-weight-rating-from-morgan-stanley.html.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s payout ratio is currently 32.43%.

In other news, CFO William C. Losch III sold 45,107 shares of First Horizon National Corporation stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the sale, the chief financial officer now owns 275,497 shares in the company, valued at $5,132,509.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William C. Losch III sold 3,500 shares of First Horizon National Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the sale, the chief financial officer now owns 233,890 shares in the company, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FHN. UBS Asset Management Americas Inc. raised its position in shares of First Horizon National Corporation by 16.1% during the first quarter. UBS Asset Management Americas Inc. now owns 170,756 shares of the financial services provider’s stock valued at $3,159,000 after buying an additional 23,691 shares during the last quarter. Sei Investments Co. increased its position in First Horizon National Corporation by 1.7% in the first quarter. Sei Investments Co. now owns 60,438 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 996 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in First Horizon National Corporation by 83.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,947 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 9,962 shares during the last quarter. Nordea Investment Management AB bought a new stake in First Horizon National Corporation in the first quarter worth $1,454,000. Finally, M&T Bank Corp increased its position in First Horizon National Corporation by 32.2% in the first quarter. M&T Bank Corp now owns 16,270 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 3,962 shares during the last quarter. Hedge funds and other institutional investors own 85.05% of the company’s stock.

First Horizon National Corporation Company Profile

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.

Analyst Recommendations for First Horizon National Corporation (NYSE:FHN)

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