Analysts Set First Horizon National Corp (NYSE:FHN) Target Price at $18.36
Shares of First Horizon National Corp (NYSE:FHN) have been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.36.
FHN has been the topic of a number of recent analyst reports. Stephens reissued a “neutral” rating on shares of First Horizon National in a research note on Tuesday, April 16th. Bank of America raised First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Tuesday, July 16th. Piper Jaffray Companies began coverage on First Horizon National in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $18.00 price target on the stock. ValuEngine raised First Horizon National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 29th. Finally, Zacks Investment Research raised First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, July 19th.
Shares of FHN stock traded up $0.15 during trading on Thursday, reaching $15.75. The company had a trading volume of 3,732,382 shares, compared to its average volume of 3,288,810. The stock has a 50 day moving average price of $15.49. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. First Horizon National has a one year low of $12.30 and a one year high of $19.01. The firm has a market cap of $4.99 billion, a P/E ratio of 11.17, a PEG ratio of 2.05 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 12th. First Horizon National’s dividend payout ratio is currently 39.72%.
In other news, insider David T. Popwell sold 53,779 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $15.89, for a total transaction of $854,548.31. Following the sale, the insider now directly owns 385,122 shares in the company, valued at $6,119,588.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William C. Losch III sold 62,846 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $16.00, for a total value of $1,005,536.00. Following the sale, the chief financial officer now owns 325,901 shares in the company, valued at $5,214,416. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,616 shares of company stock worth $4,409,979. Company insiders own 1.88% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FHN. LSV Asset Management increased its position in shares of First Horizon National by 346.9% during the first quarter. LSV Asset Management now owns 4,341,495 shares of the financial services provider’s stock valued at $60,694,000 after purchasing an additional 3,369,995 shares during the period. Norges Bank bought a new stake in shares of First Horizon National during the fourth quarter valued at approximately $37,696,000. First Trust Advisors LP increased its position in shares of First Horizon National by 443.0% during the first quarter. First Trust Advisors LP now owns 1,888,718 shares of the financial services provider’s stock valued at $26,404,000 after purchasing an additional 1,540,914 shares during the period. Carlson Capital L P bought a new stake in shares of First Horizon National during the second quarter valued at approximately $17,714,000. Finally, Dimensional Fund Advisors LP increased its position in shares of First Horizon National by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,449,014 shares of the financial services provider’s stock valued at $71,708,000 after purchasing an additional 428,555 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.
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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