Analysts Set First Horizon National Corp (FHN) Price Target at $20.00

First Horizon National Corp (NYSE:FHN) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company. Eight analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.00.

Several analysts have commented on the company. Zacks Investment Research downgraded First Horizon National Corp from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 target price on shares of First Horizon National Corp in a research note on Monday, April 10th. Stephens reiterated a “hold” rating on shares of First Horizon National Corp in a research note on Monday, April 17th. Vining Sparks upgraded First Horizon National Corp to an “outperform” rating in a research note on Tuesday, April 18th. Finally, JMP Securities began coverage on First Horizon National Corp in a research note on Thursday, February 2nd. They set a “market perform” rating on the stock.

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A number of large investors have recently modified their holdings of the company. Riverhead Capital Management LLC raised its stake in shares of First Horizon National Corp by 1,280.7% in the third quarter. Riverhead Capital Management LLC now owns 7,000 shares of the financial services provider’s stock worth $107,000 after buying an additional 6,493 shares during the last quarter. BlackRock Japan Co. Ltd raised its position in shares of First Horizon National Corp by 101,900.0% in the third quarter. BlackRock Japan Co. Ltd now owns 7,140 shares of the financial services provider’s stock worth $109,000 after buying an additional 7,133 shares during the last quarter. Neuburgh Advisers LLC raised its position in shares of First Horizon National Corp by 16.1% in the first quarter. Neuburgh Advisers LLC now owns 7,392 shares of the financial services provider’s stock worth $137,000 after buying an additional 1,024 shares during the last quarter. Waters Parkerson & CO. LLC raised its position in shares of First Horizon National Corp by 10.8% in the third quarter. Waters Parkerson & CO. LLC now owns 12,216 shares of the financial services provider’s stock worth $186,000 after buying an additional 1,194 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in shares of First Horizon National Corp by 16.1% in the first quarter. Glen Harbor Capital Management LLC now owns 10,164 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 81.70% of the company’s stock.

First Horizon National Corp (NYSE:FHN) traded down 0.23% during trading on Tuesday, hitting $17.08. The stock had a trading volume of 2,531,894 shares. First Horizon National Corp has a one year low of $12.46 and a one year high of $20.84. The firm has a market capitalization of $3.99 billion, a P/E ratio of 17.61 and a beta of 1.17. The stock has a 50 day moving average of $18.03 and a 200 day moving average of $19.06.

First Horizon National Corp (NYSE:FHN) last posted its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. First Horizon National Corp had a return on equity of 8.73% and a net margin of 16.57%. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $324.31 million. During the same quarter in the prior year, the business posted $0.20 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts expect that First Horizon National Corp will post $1.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.11%. First Horizon National Corp’s payout ratio is presently 29.79%.

First Horizon National Corp 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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