First Horizon National Corp (FHN) Receives Average Rating of “Hold” from Brokerages

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First Horizon National Corp (NYSE:FHN) has been assigned an average rating of “Hold” from the nineteen research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.25.

Several brokerages have weighed in on FHN. TheStreet cut First Horizon National from a “b-” rating to a “c+” rating in a report on Thursday, December 27th. ValuEngine cut First Horizon National from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Zacks Investment Research cut First Horizon National from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Robert W. Baird assumed coverage on First Horizon National in a report on Thursday, December 20th. They issued a “neutral” rating for the company. Finally, Bank of America cut First Horizon National from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call.

In related news, Director Scott M. Niswonger acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of $14.55 per share, for a total transaction of $363,750.00. Following the purchase, the director now directly owns 689,951 shares of the company’s stock, valued at approximately $10,038,787.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.75% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Enlightenment Research LLC acquired a new position in First Horizon National during the 4th quarter valued at about $50,000. Toronto Dominion Bank acquired a new position in First Horizon National during the 4th quarter valued at about $73,000. ETF Managers Group LLC increased its position in First Horizon National by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock valued at $91,000 after buying an additional 942 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in First Horizon National during the 4th quarter valued at about $105,000. Finally, Advisor Group Inc. increased its position in First Horizon National by 192.8% during the 4th quarter. Advisor Group Inc. now owns 9,492 shares of the financial services provider’s stock valued at $125,000 after buying an additional 6,250 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors.

Shares of FHN stock opened at $15.55 on Thursday. First Horizon National has a twelve month low of $12.30 and a twelve month high of $20.52. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.92.

First Horizon National (NYSE:FHN) last issued its earnings results on Friday, January 18th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The firm had revenue of $412.80 million during the quarter, compared to analysts’ expectations of $443.30 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. First Horizon National’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that First Horizon National will post 1.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.14 per share. This is a boost from First Horizon National’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, March 14th. First Horizon National’s dividend payout ratio is 34.04%.

First Horizon National Company Profile

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.

Read More: Cost of Capital Explained

Analyst Recommendations for First Horizon National (NYSE:FHN)

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