First Horizon National (NYSE:FHN) had its price target increased by Stephens from $18.00 to $19.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the financial services provider’s stock.
Several other brokerages have also recently issued reports on FHN. Keefe, Bruyette & Woods cut shares of First Horizon National from an outperform rating to a market perform rating and lifted their target price for the stock from $17.00 to $17.50 in a research note on Wednesday, October 16th. Wells Fargo & Co lifted their target price on shares of First Horizon National from $17.00 to $19.00 and gave the stock an outperform rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of First Horizon National from a buy rating to a hold rating and set a $16.00 price target on the stock. in a research report on Wednesday, December 4th. Bank of America raised shares of First Horizon National from a neutral rating to a buy rating and set a $20.00 price target on the stock in a research report on Tuesday, November 5th. Finally, ValuEngine raised shares of First Horizon National from a strong sell rating to a sell rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. First Horizon National currently has a consensus rating of Hold and a consensus target price of $18.31.
FHN traded down $0.49 on Tuesday, hitting $16.52. 374,561 shares of the company’s stock were exchanged, compared to its average volume of 3,928,945. First Horizon National has a fifty-two week low of $13.30 and a fifty-two week high of $17.42. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $16.48 and a 200-day moving average price of $16.10. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.29 and a beta of 1.31.
First Horizon National (NYSE:FHN) last announced its earnings results on Friday, January 17th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. First Horizon National had a net margin of 19.35% and a return on equity of 10.94%. The company had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $468.61 million. During the same quarter in the previous year, the company posted $0.35 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities analysts predict that First Horizon National will post 1.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.56 annualized dividend and a dividend yield of 3.39%. First Horizon National’s payout ratio is 33.73%.
In other news, EVP Yousef A. Valine sold 28,249 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.12, for a total transaction of $483,622.88. Following the transaction, the executive vice president now owns 229,371 shares of the company’s stock, valued at approximately $3,926,831.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.88% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Cubic Asset Management LLC lifted its position in First Horizon National by 64.1% in the fourth quarter. Cubic Asset Management LLC now owns 99,385 shares of the financial services provider’s stock valued at $1,646,000 after buying an additional 38,835 shares during the last quarter. State of Michigan Retirement System lifted its position in First Horizon National by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 91,583 shares of the financial services provider’s stock valued at $1,517,000 after buying an additional 900 shares during the last quarter. Strs Ohio lifted its position in First Horizon National by 82.1% in the fourth quarter. Strs Ohio now owns 690,322 shares of the financial services provider’s stock valued at $11,431,000 after buying an additional 311,322 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in First Horizon National in the fourth quarter valued at about $211,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Horizon National by 13.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,687 shares of the financial services provider’s stock valued at $359,000 after buying an additional 2,528 shares during the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
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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