First Horizon National Corporation (NYSE:FHN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of First Horizon National Corporation (NYSE:FHN) have received an average rating of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.25.

A number of analysts have weighed in on the stock. Stephens restated a “hold” rating on shares of First Horizon National Corporation in a research report on Thursday, May 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 target price on shares of First Horizon National Corporation in a research report on Monday, June 12th. BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. ValuEngine upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Barclays PLC cut their target price on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th.

Shares of First Horizon National Corporation (NYSE:FHN) traded down 1.09% on Wednesday, reaching $17.25. The company had a trading volume of 2,497,293 shares. The company has a 50-day moving average price of $17.54 and a 200-day moving average price of $18.36. The firm has a market capitalization of $4.04 billion, a PE ratio of 15.54 and a beta of 1.06. First Horizon National Corporation has a 52-week low of $14.60 and a 52-week high of $20.84.

First Horizon National Corporation (NYSE:FHN) last issued its earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The firm had revenue of $328.37 million for the quarter, compared to analyst estimates of $331.27 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that First Horizon National Corporation will post $1.10 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is presently 32.43%.

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In related news, Director Vicki R. Palmer sold 5,211 shares of First Horizon National Corporation stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the transaction, the director now owns 57,818 shares of the company’s stock, valued at $1,020,487.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares in the last quarter. State Street Corp increased its position in shares of First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares in the last quarter. Norges Bank purchased a new position in shares of First Horizon National Corporation during the fourth quarter worth $40,661,000. Parnassus Investments CA increased its position in shares of First Horizon National Corporation by 33.3% in the first quarter. Parnassus Investments CA now owns 5,000,000 shares of the financial services provider’s stock worth $92,500,000 after buying an additional 1,250,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

About First Horizon National Corporation

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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