Barclays Raises First Horizon National (FHN) Price Target to $23.00
First Horizon National (NYSE:FHN) had its price target increased by Barclays from $21.00 to $23.00 in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.
FHN has been the subject of several other research reports. Zacks Investment Research raised First Horizon National from a sell rating to a hold rating in a research note on Monday, October 9th. Morgan Stanley reaffirmed an equal weight rating and set a $20.00 target price (up previously from $19.50) on shares of First Horizon National in a research note on Wednesday, October 4th. Raymond James Financial raised First Horizon National from an outperform rating to a strong-buy rating and set a $22.00 target price for the company in a research note on Wednesday, November 8th. UBS Group raised First Horizon National from an outperform rating to a strong-buy rating in a research note on Wednesday, November 8th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $22.00 target price on shares of First Horizon National in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $21.25.
Shares of First Horizon National (NYSE:FHN) opened at $20.27 on Tuesday. First Horizon National has a one year low of $15.84 and a one year high of $20.86. The company has a market capitalization of $4,668.21, a P/E ratio of 18.98, a P/E/G ratio of 2.21 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94.
First Horizon National (NYSE:FHN) last released its earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. The business had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $340.48 million. During the same quarter last year, the firm posted $0.27 earnings per share. analysts forecast that First Horizon National will post 1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd were issued a $0.09 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.78%. First Horizon National’s payout ratio is currently 32.14%.
In other First Horizon National news, Director R Brad Martin sold 5,449 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the transaction, the director now owns 482,188 shares in the company, valued at $9,282,119. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.09% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of First Horizon National by 137.9% in the second quarter. Goldman Sachs Group Inc. now owns 4,862,020 shares of the financial services provider’s stock valued at $84,697,000 after purchasing an additional 2,817,897 shares in the last quarter. NWQ Investment Management Company LLC bought a new position in shares of First Horizon National in the third quarter valued at approximately $50,493,000. Janus Henderson Group PLC lifted its holdings in shares of First Horizon National by 738.1% in the third quarter. Janus Henderson Group PLC now owns 2,131,536 shares of the financial services provider’s stock valued at $40,819,000 after purchasing an additional 1,877,196 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of First Horizon National by 56.1% in the second quarter. Lord Abbett & CO. LLC now owns 4,270,239 shares of the financial services provider’s stock valued at $74,388,000 after purchasing an additional 1,534,966 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of First Horizon National in the third quarter valued at approximately $27,689,000. Institutional investors and hedge funds own 88.97% of the company’s stock.
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First Horizon National 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.
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