First Horizon National Corporation (NYSE:FHN) – Stock analysts at Jefferies Group decreased their Q4 2017 earnings estimates for First Horizon National in a research report issued to clients and investors on Monday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.28 per share for the quarter, down from their prior estimate of $0.29. Jefferies Group also issued estimates for First Horizon National’s FY2018 earnings at $1.45 EPS and FY2019 earnings at $1.63 EPS.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research report on Tuesday, January 9th. Vining Sparks raised shares of First Horizon National to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, January 8th. Barclays boosted their target price on shares of First Horizon National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley boosted their target price on shares of First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $22.00 price objective on shares of First Horizon National in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.00.
First Horizon National (NYSE:FHN) opened at $20.30 on Tuesday. The firm has a market cap of $4,754.88, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. First Horizon National has a 52-week low of $15.84 and a 52-week high of $20.86.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Horizon National by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 676 shares during the period. Macquarie Group Ltd. bought a new stake in First Horizon National in the third quarter valued at about $182,000. Ladenburg Thalmann Financial Services Inc. increased its stake in First Horizon National by 133.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 5,438 shares during the period. PNC Financial Services Group Inc. increased its stake in First Horizon National by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 286 shares during the period. Finally, Riverhead Capital Management LLC grew its stake in First Horizon National by 63.2% during the second quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock worth $233,000 after buying an additional 5,183 shares during the last quarter. 88.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director R Brad Martin sold 5,449 shares of the company’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 transaction, the director now owns 482,188 shares of the company’s stock, valued at $9,282,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Thursday, November 2nd. First Horizon National’s dividend payout ratio is currently 32.14%.
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First Horizon National 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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