First Horizon National (FHN) Raised to “Buy” at Vining Sparks

Vining Sparks upgraded shares of First Horizon National (NYSE:FHN) to a buy rating in a research report report published on Monday morning. The firm currently has $25.00 price objective on the financial services provider’s stock.

Several other brokerages have also recently issued reports on FHN. Hovde Group upped their target price on shares of First Horizon National from $20.00 to $21.00 and gave the company a market perform rating in a report on Monday, October 16th. Raymond James Financial upgraded shares of First Horizon National from an outperform rating to a strong-buy rating and set a $22.00 target price for the company in a report on Wednesday, November 8th. Royal Bank of Canada restated a hold rating and issued a $22.00 target price on shares of First Horizon National in a report on Tuesday, December 5th. Barclays restated an equal weight rating and issued a $21.00 target price on shares of First Horizon National in a report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of First Horizon National from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $22.00.

Shares of First Horizon National (NYSE:FHN) traded up $0.29 during trading on Monday, hitting $20.61. 4,249,382 shares of the stock traded hands, compared to its average volume of 3,553,735. First Horizon National has a fifty-two week low of $15.84 and a fifty-two week high of $20.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The firm has a market cap of $6,610.00, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, November 2nd. First Horizon National’s dividend payout ratio is currently 32.14%.

In related news, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $19.25, for a total transaction of $104,893.25. Following the completion of the sale, the director now owns 482,188 shares in the company, valued at approximately $9,282,119. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.09% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Horizon National by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 676 shares during the period. Macquarie Group Ltd. acquired a new stake in First Horizon National during the 3rd quarter worth $182,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in First Horizon National by 133.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,438 shares during the period. PNC Financial Services Group Inc. boosted its stake in First Horizon National by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 286 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in shares of First Horizon National by 63.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 5,183 shares during the period. Hedge funds and other institutional investors own 88.97% of the company’s stock.

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About First Horizon National

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 (NYSE:FHN)

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