First Horizon National Corporation (FHN) Receives Consensus Rating of “Hold” from Analysts

First Horizon National Corporation (NYSE:FHN) has earned an average rating of “Hold” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.43.

A number of equities research analysts have weighed in on FHN shares. Raymond James Financial, Inc. upped their target price on First Horizon National Corporation from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. ValuEngine downgraded First Horizon National Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded First Horizon National Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. J P Morgan Chase & Co restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National Corporation in a research report on Wednesday, September 13th. Finally, UBS AG upgraded First Horizon National Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 8th.

Shares of First Horizon National Corporation (NYSE FHN) opened at $18.61 on Tuesday. The firm has a market capitalization of $4,309.84, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National Corporation has a 52-week low of $15.84 and a 52-week high of $20.84.

First Horizon National Corporation (NYSE:FHN) last released its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $337.00 million during the quarter, compared to the consensus estimate of $340.48 million. First Horizon National Corporation had a return on equity of 9.40% and a net margin of 19.36%. During the same period in the prior year, the firm posted $0.27 earnings per share. equities analysts predict that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be issued a $0.09 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.93%. First Horizon National Corporation’s payout ratio is currently 32.14%.

In other news, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the sale, the director now owns 482,188 shares in the company, valued at $9,282,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William C. Losch III sold 45,107 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total value of $840,343.41. Following the completion of the sale, the chief financial officer now owns 275,497 shares of the company’s stock, valued at approximately $5,132,509.11. The disclosure for this sale can be found here. Insiders sold 54,056 shares of company stock valued at $1,010,022 in the last 90 days. Corporate insiders own 2.09% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Teachers Advisors LLC lifted its holdings in shares of First Horizon National Corporation by 8.7% in the first quarter. Teachers Advisors LLC now owns 242,964 shares of the financial services provider’s stock valued at $4,495,000 after purchasing an additional 19,401 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of First Horizon National Corporation by 113.6% in the first quarter. AQR Capital Management LLC now owns 58,842 shares of the financial services provider’s stock valued at $1,088,000 after purchasing an additional 31,290 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of First Horizon National Corporation in the first quarter valued at $189,000. Oregon Public Employees Retirement Fund increased its stake in shares of First Horizon National Corporation by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 84,915 shares of the financial services provider’s stock worth $1,479,000 after acquiring an additional 3,624 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of First Horizon National Corporation by 12.7% in the second quarter. LS Investment Advisors LLC now owns 22,668 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 2,556 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

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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.

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

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