First Horizon National Corp (FHN) Given Consensus Rating of “Buy” by Analysts
First Horizon National Corp (NYSE:FHN) has earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.64.
FHN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. ValuEngine raised shares of First Horizon National from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Royal Bank of Canada reduced their price objective on shares of First Horizon National from $21.00 to $19.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. Keefe, Bruyette & Woods reduced their price objective on shares of First Horizon National from $23.00 to $22.00 and set a “$17.03” rating for the company in a research note on Wednesday, July 18th. Finally, Wells Fargo & Co set a $20.00 price objective on shares of First Horizon National and gave the company a “buy” rating in a research note on Tuesday, October 2nd.
FHN stock traded up $0.27 during mid-day trading on Tuesday, reaching $16.37. 3,775,400 shares of the stock traded hands, compared to its average volume of 3,542,550. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. First Horizon National has a 52-week low of $14.94 and a 52-week high of $20.86. The firm has a market capitalization of $5.28 billion, a PE ratio of 14.75, a P/E/G ratio of 1.10 and a beta of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, December 13th. First Horizon National’s dividend payout ratio (DPR) is 43.24%.
In other First Horizon National news, Director Scott M. Niswonger acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were purchased at an average price of $15.76 per share, with a total value of $788,000.00. Following the completion of the transaction, the director now owns 640,951 shares in the company, valued at $10,101,387.76. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Yousef A. Valine acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $16.29 per share, for a total transaction of $48,870.00. Following the transaction, the executive vice president now owns 182,363 shares of the company’s stock, valued at approximately $2,970,693.27. The disclosure for this purchase can be found here. Insiders bought 68,750 shares of company stock valued at $1,086,980 over the last three months. 1.75% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FHN. LPL Financial LLC bought a new position in First Horizon National during the first quarter valued at approximately $543,000. Principal Financial Group Inc. raised its position in First Horizon National by 2.3% during the first quarter. Principal Financial Group Inc. now owns 1,411,131 shares of the financial services provider’s stock valued at $26,573,000 after acquiring an additional 32,016 shares in the last quarter. State of Alaska Department of Revenue raised its position in First Horizon National by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 31,996 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 9,130 shares in the last quarter. Handelsbanken Fonder AB bought a new position in First Horizon National during the second quarter valued at approximately $16,056,000. Finally, Dalton Greiner Hartman Maher & Co. raised its position in First Horizon National by 9.8% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,057,968 shares of the financial services provider’s stock valued at $18,874,000 after acquiring an additional 94,118 shares in the last quarter. 85.98% of the stock is currently owned by hedge funds and other institutional investors.
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.
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