Shares of First Horizon National Corp (NYSE:FHN) have received an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.63.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded First Horizon National Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. JMP Securities assumed coverage on First Horizon National Corp in a research report on Thursday, February 2nd. They issued a “market perform” rating on the stock. Wells Fargo & Co raised First Horizon National Corp from an “underperform” rating to a “market perform” rating in a research report on Monday, January 9th. JPMorgan Chase & Co. raised First Horizon National Corp from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 5th. Finally, Bank of America Corp raised First Horizon National Corp from an “underperform” rating to a “neutral” rating in a research report on Wednesday, December 21st.
First Horizon National Corp (NYSE:FHN) opened at 19.01 on Monday. First Horizon National Corp has a 12-month low of $12.46 and a 12-month high of $20.84. The firm has a market cap of $4.44 billion, a PE ratio of 20.22 and a beta of 1.17. The firm has a 50-day moving average price of $19.86 and a 200 day moving average price of $18.06.
First Horizon National Corp (NYSE:FHN) last released its earnings results on Friday, January 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.02. The company earned $319.60 million during the quarter, compared to analyst estimates of $330.89 million. First Horizon National Corp had a net margin of 16.57% and a return on equity of 8.73%. First Horizon National Corp’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Equities research analysts forecast that First Horizon National Corp will post $1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.89%. This is a boost from First Horizon National Corp’s previous quarterly dividend of $0.07. First Horizon National Corp’s dividend payout ratio (DPR) is presently 29.79%.
In related news, EVP John M. Daniel sold 28,987 shares of First Horizon National Corp stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $19.96, for a total transaction of $578,580.52. Following the completion of the transaction, the executive vice president now owns 259,042 shares in the company, valued at $5,170,478.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in First Horizon National Corp during the fourth quarter worth approximately $40,661,000. Maltese Capital Management LLC acquired a new position in First Horizon National Corp during the fourth quarter worth approximately $4,902,000. Ladenburg Thalmann Financial Services Inc. boosted its position in First Horizon National Corp by 5.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,549 shares of the financial services provider’s stock worth $288,000 after buying an additional 924 shares during the last quarter. Guggenheim Capital LLC boosted its position in First Horizon National Corp by 29.9% in the fourth quarter. Guggenheim Capital LLC now owns 590,041 shares of the financial services provider’s stock worth $11,807,000 after buying an additional 135,663 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in First Horizon National Corp during the fourth quarter worth approximately $779,000. Institutional investors and hedge funds own 81.70% of the company’s stock.
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First Horizon National Corp 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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