First Horizon National Corporation (FHN) Raised 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 research report sent to investors on Wednesday, November 8th, The Fly reports.

FHN has been the subject of several other research reports. Hovde Group raised their price target on shares of First Horizon National Corporation from $20.00 to $21.00 and gave the stock a market perform rating in a research note on Monday, October 16th. BidaskClub upgraded shares of First Horizon National Corporation from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Raymond James Financial, Inc. upgraded shares of First Horizon National Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of First Horizon National Corporation from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Monday, September 18th. Finally, Keefe, Bruyette & Woods restated a buy rating and issued a $20.00 price objective on shares of First Horizon National Corporation in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. First Horizon National Corporation has an average rating of Hold and a consensus target price of $20.22.

First Horizon National Corporation (NYSE FHN) traded up $0.21 during midday trading on Wednesday, reaching $18.61. The company had a trading volume of 1,808,500 shares, compared to its average volume of 2,849,719. The firm has a market capitalization of $4,360.00, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. First Horizon National Corporation has a 1-year low of $15.84 and a 1-year high of $20.84. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

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

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.93%. First Horizon National Corporation’s dividend payout ratio is presently 32.14%.

In other news, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the sale, the director now directly owns 482,188 shares of the company’s stock, valued at $9,282,119. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the transaction, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,056 shares of company stock valued at $1,010,022. 2.09% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL grew its stake in First Horizon National Corporation by 15.2% during the second quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock valued at $1,840,000 after acquiring an additional 13,900 shares in the last quarter. CNA Financial Corp lifted its position in First Horizon National Corporation by 11.9% during the second quarter. CNA Financial Corp now owns 64,800 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 6,900 shares during the last quarter. Sei Investments Co. lifted its position in First Horizon National Corporation by 4.6% during the second quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 2,761 shares during the last quarter. JPMorgan Chase & Co. lifted its position in First Horizon National Corporation by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock valued at $116,124,000 after purchasing an additional 258,298 shares during the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in First Horizon National Corporation during the second quarter valued at $620,000. 86.60% of the stock is owned by institutional investors.

First Horizon National Corporation 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.

The Fly

Analyst Recommendations for First Horizon National Corporation (NYSE:FHN)

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