First Horizon National Corp (FHN) Given Consensus Recommendation of “Hold” by Analysts

Shares of First Horizon National Corp (NYSE:FHN) have earned an average rating of “Hold” from the nineteen research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $20.25.

A number of research firms have recently weighed in on FHN. TheStreet cut First Horizon National from a “b-” rating to a “c+” rating in a research report on Thursday, December 27th. ValuEngine cut First Horizon National from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Zacks Investment Research cut First Horizon National from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Robert W. Baird began coverage on First Horizon National in a research report on Thursday, December 20th. They set a “neutral” rating on the stock. Finally, Bank of America cut First Horizon National from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 22nd. They noted that the move was a valuation call.

In other First Horizon National news, Director Scott M. Niswonger bought 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were bought at an average price of $14.55 per share, with a total value of $363,750.00. Following the purchase, the director now owns 689,951 shares of the company’s stock, valued at $10,038,787.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in First Horizon National by 559.4% in the 2nd quarter. FMR LLC now owns 12,480,972 shares of the financial services provider’s stock worth $222,661,000 after acquiring an additional 10,588,072 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in First Horizon National by 21.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 14,669,760 shares of the financial services provider’s stock worth $253,200,000 after acquiring an additional 2,617,314 shares during the last quarter. EJF Capital LLC increased its stake in First Horizon National by 90.3% in the 3rd quarter. EJF Capital LLC now owns 3,657,814 shares of the financial services provider’s stock worth $63,134,000 after acquiring an additional 1,735,314 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in First Horizon National by 1,226.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,709,155 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,580,286 shares during the last quarter. Finally, NWQ Investment Management Company LLC increased its stake in First Horizon National by 48.8% in the 3rd quarter. NWQ Investment Management Company LLC now owns 4,640,319 shares of the financial services provider’s stock worth $76,101,000 after acquiring an additional 1,521,079 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors.

FHN stock opened at $15.55 on Thursday. First Horizon National has a twelve month low of $12.30 and a twelve month high of $20.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.94. The stock has a market cap of $4.97 billion, a PE ratio of 11.03, a P/E/G ratio of 1.53 and a beta of 1.17.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). First Horizon National had a net margin of 24.02% and a return on equity of 10.22%. The company had revenue of $412.80 million for the quarter, compared to analysts’ expectations of $443.30 million. During the same period in the previous year, the firm earned ($0.20) earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that First Horizon National will post 1.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, March 14th. This is an increase from First Horizon National’s previous quarterly dividend of $0.12. First Horizon National’s dividend payout ratio (DPR) is 34.04%.

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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Analyst Recommendations for First Horizon National (NYSE:FHN)

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