First Horizon National Corporation (FHN) PT Raised to $22.00

First Horizon National Corporation (NYSE:FHN) had its price target boosted by Raymond James Financial, Inc. from $20.00 to $22.00 in a research report sent to investors on Monday, October 16th. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. Hovde Group upped their price target on shares of First Horizon National Corporation from $20.00 to $21.00 and gave the company a market perform rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of First Horizon National Corporation from a sell rating to a hold rating in a report on Monday, October 9th. Morgan Stanley reiterated an equal weight rating and set a $20.00 target price (up from $19.50) on shares of First Horizon National Corporation in a report on Wednesday, October 4th. Keefe, Bruyette & Woods reissued a buy rating and issued a $20.00 price target on shares of First Horizon National Corporation in a research note on Tuesday, October 3rd. Finally, J P Morgan Chase & Co reissued a buy rating and issued a $20.00 price target on shares of First Horizon National Corporation in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $20.22.

First Horizon National Corporation (NYSE:FHN) traded up 0.26% during midday trading on Monday, hitting $19.21. The stock had a trading volume of 2,468,537 shares. The company’s 50-day moving average price is $18.43 and its 200 day moving average price is $17.83. The company has a market capitalization of $4.50 billion, a PE ratio of 17.15 and a beta of 1.05. First Horizon National Corporation has a 52 week low of $14.92 and a 52 week high of $20.84.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly 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 Corporation 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 analyst estimates of $340.48 million. During the same period in the prior year, the business posted $0.27 earnings per share. On average, analysts expect that First Horizon National Corporation will post $1.13 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. First Horizon National Corporation’s payout ratio is 32.14%.

In related news, CFO William C. Losch III sold 45,107 shares of First Horizon National Corporation stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the completion of the transaction, the chief financial officer now directly owns 275,497 shares of the company’s stock, valued at approximately $5,132,509.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Brad Martin sold 5,449 shares of the business’s stock in a transaction dated 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 directly owns 482,188 shares of the company’s stock, valued at $9,282,119. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,056 shares of company stock worth $1,010,022. 2.09% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FHN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Horizon National Corporation by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock valued at $148,000 after buying an additional 676 shares during the period. Tudor Investment Corp ET AL purchased a new stake in First Horizon National Corporation in the 1st quarter valued at about $189,000. Greenwood Capital Associates LLC boosted its position in First Horizon National Corporation by 7.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock valued at $194,000 after buying an additional 757 shares during the period. PNC Financial Services Group Inc. boosted its position in First Horizon National Corporation by 2.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock valued at $214,000 after buying an additional 286 shares during the period. Finally, United Capital Financial Advisers LLC boosted its position in First Horizon National Corporation by 1.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock valued at $220,000 after buying an additional 157 shares during the period. 85.07% of the stock is owned by institutional investors.

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.

Analyst Recommendations for First Horizon National Corporation (NYSE:FHN)

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