Brokerages Set First Horizon National Corp (FHN) Price Target at $20.64

Shares of First Horizon National Corp (NYSE:FHN) have earned a consensus rating of “Buy” from the seventeen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.64.

A number of equities research analysts have issued reports on FHN shares. Deutsche Bank raised First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price target for the company in a research report on Monday, November 12th. ValuEngine cut First Horizon National from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Wells Fargo & Co set a $20.00 price target on First Horizon National and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research raised First Horizon National from a “strong sell” rating to a “hold” rating in a report on Friday, September 14th.

In related news, EVP Yousef A. Valine acquired 3,000 shares of the stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of $16.29 per share, with a total value of $48,870.00. Following the completion of the transaction, the executive vice president now owns 182,363 shares in the company, valued at approximately $2,970,693.27. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David T. Popwell acquired 15,750 shares of the stock in a transaction on Wednesday, October 17th. The stock was bought at an average cost of $15.88 per share, for a total transaction of $250,110.00. Following the transaction, the insider now owns 283,692 shares of the company’s stock, valued at approximately $4,505,028.96. The disclosure for this purchase can be found here. Insiders acquired 68,750 shares of company stock valued at $1,086,980 over the last 90 days. Corporate insiders own 1.75% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Hartford Investment Management Co. bought a new stake in First Horizon National during the 2nd quarter valued at $187,000. Raymond James Financial Services Advisors Inc. grew its position in shares of First Horizon National by 6.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 659,303 shares of the financial services provider’s stock worth $11,762,000 after buying an additional 39,373 shares during the period. Commonwealth Equity Services LLC purchased a new stake in First Horizon National during the 2nd quarter valued at about $492,000. CWM LLC purchased a new stake in First Horizon National during the 2nd quarter valued at about $195,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of First Horizon National by 18.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,983,735 shares of the financial services provider’s stock valued at $35,390,000 after acquiring an additional 307,297 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE FHN traded down $0.18 during midday trading on Friday, hitting $15.41. 4,382,553 shares of the company’s stock were exchanged, compared to its average volume of 3,503,630. The firm has a market capitalization of $5.05 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.94. First Horizon National has a twelve month low of $14.90 and a twelve month high of $20.86.

First Horizon National (NYSE:FHN) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $441.81 million for the quarter, compared to the consensus estimate of $448.62 million. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. During the same period in the previous year, the business earned $0.32 earnings per share. On average, sell-side analysts forecast that First Horizon National will post 1.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, December 13th. First Horizon National’s dividend payout ratio is presently 43.24%.

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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