First Horizon National Corporation (FHN) Rating Increased to Outperform at UBS AG

First Horizon National Corporation (NYSE:FHN) was upgraded by equities researchers at UBS AG from a “market perform” rating to an “outperform” rating in a report released on Thursday.

A number of other analysts have also weighed in on FHN. Hovde Group reduced their price target on shares of First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating for the company in a research note on Monday, April 17th. Stephens reaffirmed a “hold” rating on shares of First Horizon National Corporation in a research note on Monday, April 17th. Vining Sparks raised shares of First Horizon National Corporation to an “outperform” rating in a research note on Tuesday, April 18th. Barclays PLC reduced their price target on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. Finally, BidaskClub raised shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.57.

First Horizon National Corporation (FHN) opened at 17.25 on Thursday. The stock has a market capitalization of $4.04 billion, a PE ratio of 15.54 and a beta of 1.06. First Horizon National Corporation has a one year low of $14.60 and a one year high of $20.84. The firm has a 50-day moving average of $17.54 and a 200-day moving average of $18.36.

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

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In related news, Director Vicki R. Palmer sold 5,211 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total value of $91,974.15. Following the sale, the director now directly owns 57,818 shares in the company, valued at approximately $1,020,487.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.09% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in First Horizon National Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 81,291 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 1,100 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in First Horizon National Corporation by 16.1% in the first quarter. Glen Harbor Capital Management LLC now owns 10,164 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,408 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in First Horizon National Corporation during the first quarter worth approximately $1,735,000. ProShare Advisors LLC increased its stake in First Horizon National Corporation by 3.8% in the first quarter. ProShare Advisors LLC now owns 63,544 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 2,334 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in First Horizon National Corporation by 2.7% in the first quarter. Profund Advisors LLC now owns 40,631 shares of the financial services provider’s stock worth $752,000 after buying an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 85.83% 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.

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