First Horizon National Corporation (FHN) Lifted to “Strong-Buy” at UBS AG

UBS AG upgraded shares of First Horizon National Corporation (NYSE:FHN) from an outperform rating to a strong-buy rating in a report published on Wednesday, November 8th, The Fly reports.

Other equities analysts have also issued research reports about the stock. Raymond James Financial, Inc. raised their price objective on shares of First Horizon National from $20.00 to $22.00 and gave the stock an outperform rating in a research note on Monday, October 16th. ValuEngine lowered shares of First Horizon National from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of First Horizon National from a sell rating to a hold rating in a research note on Monday, October 9th. J P Morgan Chase & Co reiterated a buy rating and issued a $20.00 target price on shares of First Horizon National in a research report on Wednesday, September 13th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $20.00 target price (up previously from $19.50) on shares of First Horizon National in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $20.22.

First Horizon National (NYSE:FHN) opened at $18.50 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market cap of $4,320.00, a P/E ratio of 17.56, a PEG ratio of 2.37 and a beta of 1.02. First Horizon National has a 1-year low of $15.84 and a 1-year high of $20.84.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $340.48 million. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. During the same period last year, the firm posted $0.27 earnings per share. analysts anticipate that First Horizon National will post 1.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.95%. First Horizon National’s dividend payout ratio (DPR) is presently 32.14%.

In other First Horizon National news, CFO William C. Losch III sold 45,107 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total value of $840,343.41. Following the sale, the chief financial officer now directly owns 275,497 shares in the company, valued at approximately $5,132,509.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William C. Losch III sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the completion of the sale, the chief financial officer now owns 233,890 shares in the company, valued at $4,329,303.90. The disclosure for this sale can be found here. Insiders sold a total of 54,056 shares of company stock worth $1,010,022 in the last quarter. Insiders own 2.09% of the company’s stock.

Several institutional investors have recently modified their holdings of FHN. Teachers Advisors LLC boosted its position in shares of First Horizon National by 8.7% during the 1st quarter. Teachers Advisors LLC now owns 242,964 shares of the financial services provider’s stock valued at $4,495,000 after acquiring an additional 19,401 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of First Horizon National by 9.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 43,810 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 3,910 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of First Horizon National during the 1st quarter valued at about $243,000. AQR Capital Management LLC boosted its position in shares of First Horizon National by 113.6% during the 1st quarter. AQR Capital Management LLC now owns 58,842 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 31,290 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of First Horizon National during the 1st quarter valued at about $189,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

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About First Horizon National

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.

The Fly

Analyst Recommendations for First Horizon National (NYSE:FHN)

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