First Horizon National Corporation (FHN) Stock Rating Lowered by BidaskClub

First Horizon National Corporation (NYSE:FHN) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, July 24th.

Several other equities research analysts have also recently issued reports on FHN. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Horizon National Corporation in a research report on Monday, April 10th. Hovde Group decreased their price objective 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 report on Monday, April 17th. Stephens reaffirmed a “hold” rating on shares of First Horizon National Corporation in a research report on Monday, April 17th. Vining Sparks raised shares of First Horizon National Corporation to an “outperform” rating in a research report on Tuesday, April 18th. Finally, 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 report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.57.

First Horizon National Corporation (FHN) opened at 16.89 on Monday. The company has a market cap of $3.95 billion, a PE ratio of 15.22 and a beta of 1.06. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84. The stock’s 50 day moving average price is $17.55 and its 200-day moving average price is $18.25.

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

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In other news, Director Vicki R. Palmer sold 5,211 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.65, for a total value of $91,974.15. Following the completion of the sale, the director now directly owns 57,818 shares of the company’s stock, valued at $1,020,487.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in FHN. Glen Harbor Capital Management LLC boosted its stake in shares of 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 shares of First Horizon National Corporation during the first quarter worth approximately $1,735,000. ProShare Advisors LLC boosted its stake in shares of 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. Profund Advisors LLC boosted its stake in shares of 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. Finally, First Manhattan Co. boosted its stake in shares of First Horizon National Corporation by 3.3% in the first quarter. First Manhattan Co. now owns 191,528 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 6,194 shares during the last quarter. 84.71% of the stock is owned by institutional investors and hedge funds.

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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