First Horizon National Corp (NYSE:FHN) has been assigned a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.64.
A number of brokerages recently weighed in on FHN. ValuEngine raised shares of First Horizon National from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Wells Fargo & Co set a $20.00 target price on shares of First Horizon National and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, Deutsche Bank upgraded shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 target price on the stock in a research report on Monday, November 12th.
In other news, Director Scott M. Niswonger bought 50,000 shares of First Horizon National stock in a transaction on Friday, October 19th. The stock was acquired at an average cost of $15.76 per share, for a total transaction of $788,000.00. Following the completion of the acquisition, the director now owns 640,951 shares of the company’s stock, valued at approximately $10,101,387.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yousef A. Valine purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average price of $16.29 per share, for a total transaction of $48,870.00. Following the purchase, the executive vice president now directly owns 182,363 shares of the company’s stock, valued at approximately $2,970,693.27. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 68,750 shares of company stock valued at $1,086,980. 1.75% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Hartford Investment Management Co. acquired a new position in First Horizon National in the 2nd quarter valued at $187,000. Raymond James Financial Services Advisors Inc. raised its position in shares of First Horizon National by 6.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 659,303 shares of the financial services provider’s stock worth $11,762,000 after acquiring an additional 39,373 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of First Horizon National during the 2nd quarter worth about $492,000. CWM LLC purchased a new position in First Horizon National during the 2nd quarter worth approximately $195,000. Finally, Wells Fargo & Company MN grew its stake in First Horizon National by 18.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,983,735 shares of the financial services provider’s stock worth $35,390,000 after buying an additional 307,297 shares during the last quarter. 87.53% of the stock is owned by institutional investors.
Shares of FHN traded down $0.18 during mid-day trading on Friday, reaching $15.41. The company’s stock had a trading volume of 4,382,553 shares, compared to its average volume of 3,503,630. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.26. First Horizon National has a 1 year low of $14.90 and a 1 year high of $20.86. The firm has a market capitalization of $5.05 billion, a P/E ratio of 13.88, a PEG ratio of 1.05 and a beta of 0.92.
First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. The company had revenue of $441.81 million for the quarter, compared to the consensus estimate of $448.62 million. During the same period last year, the business posted $0.32 earnings per share. On average, analysts expect that First Horizon National will post 1.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, December 13th. First Horizon National’s dividend payout ratio (DPR) is currently 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.
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