Raymond James Financial, Inc. upgraded shares of First Horizon National Corporation (NYSE:FHN) from a market perform rating to an outperform rating in a research report report published on Thursday morning, Marketbeat.com reports.

FHN has been the topic of a number of other reports. Deutsche Bank AG reiterated a hold rating on shares of First Horizon National Corporation in a research note on Monday, July 3rd. Stephens reiterated a hold rating on shares of First Horizon National Corporation in a research note on Thursday, May 4th. Hovde Group lowered their target price on shares of First Horizon National Corporation from $21.50 to $20.00 and set a market perform rating on the stock in a research note on Monday, April 17th. ValuEngine upgraded shares of First Horizon National Corporation from a hold rating to a buy rating in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $21.00 target price on shares of First Horizon National Corporation in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $19.57.

First Horizon National Corporation (NYSE FHN) traded down 1.09% during trading on Thursday, hitting $17.25. 2,497,293 shares of the company traded hands. The firm has a 50 day moving average of $17.54 and a 200 day moving average of $18.36. First Horizon National Corporation has a one year low of $14.60 and a one year high of $20.84. The firm has a market cap of $4.04 billion, a P/E ratio of 15.54 and a beta of 1.06.

First Horizon National Corporation (NYSE:FHN) last posted its earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The business had revenue of $328.37 million for the quarter, compared to analyst estimates of $331.27 million. During the same period last year, the business posted $0.24 EPS. First Horizon National Corporation’s revenue was up 2.0% compared to the same quarter last year. On average, analysts expect that First Horizon National Corporation will post $1.10 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio (DPR) is presently 32.43%.

In other First Horizon National Corporation news, Director Vicki R. Palmer sold 5,211 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total value of $91,974.15. Following the completion of the sale, the director now directly owns 57,818 shares of the company’s stock, valued at approximately $1,020,487.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.09% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its stake in shares of First Horizon National Corporation by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 13,800 shares of the financial services provider’s stock worth $240,000 after buying an additional 110 shares during the period. United Capital Financial Advisers LLC increased its position in First Horizon National Corporation by 1.3% in the first quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after buying an additional 157 shares during the last quarter. World Asset Management Inc increased its position in First Horizon National Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 14,468 shares of the financial services provider’s stock worth $268,000 after buying an additional 262 shares during the last quarter. Teacher Retirement System of Texas increased its position in First Horizon National Corporation by 1.5% in the first quarter. Teacher Retirement System of Texas now owns 18,435 shares of the financial services provider’s stock worth $341,000 after buying an additional 269 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in First Horizon National Corporation by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after buying an additional 286 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

About First Horizon National Corporation

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.

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

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