Brokerages Set First Horizon National Corp (FHN) PT at $20.25
Shares of First Horizon National Corp (NYSE:FHN) have been given a consensus recommendation of “Hold” by the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.25.
A number of research firms recently issued reports on FHN. Zacks Investment Research raised shares of First Horizon National from a “sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley dropped their price target on shares of First Horizon National from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 11th. Robert W. Baird began coverage on shares of First Horizon National in a research note on Thursday, December 20th. They issued a “neutral” rating on the stock. Deutsche Bank raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price target on the stock in a research note on Monday, November 12th. Finally, Raymond James cut shares of First Horizon National from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th.
Shares of NYSE FHN traded up $0.31 during midday trading on Thursday, reaching $15.58. 2,129,701 shares of the stock were exchanged, compared to its average volume of 3,493,081. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.55 and a beta of 1.17. First Horizon National has a twelve month low of $12.30 and a twelve month high of $20.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.14 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.59%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.12. First Horizon National’s dividend payout ratio (DPR) is presently 34.04%.
In other news, Director Scott M. Niswonger acquired 25,000 shares of the firm’s stock in a transaction on Monday, December 10th. The shares were bought at an average price of $14.55 per share, for a total transaction of $363,750.00. Following the acquisition, the director now owns 689,951 shares of the company’s stock, valued at approximately $10,038,787.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FHN. FMR LLC lifted its holdings in First Horizon National by 559.4% in the 2nd quarter. FMR LLC now owns 12,480,972 shares of the financial services provider’s stock valued at $222,661,000 after purchasing an additional 10,588,072 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of First Horizon National by 21.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 14,669,760 shares of the financial services provider’s stock valued at $253,200,000 after acquiring an additional 2,617,314 shares during the period. EJF Capital LLC raised its stake in shares of First Horizon National by 90.3% in the third quarter. EJF Capital LLC now owns 3,657,814 shares of the financial services provider’s stock valued at $63,134,000 after acquiring an additional 1,735,314 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of First Horizon National by 1,226.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,709,155 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,580,286 shares during the period. Finally, NWQ Investment Management Company LLC grew its holdings in shares of First Horizon National by 48.8% in the third quarter. NWQ Investment Management Company LLC now owns 4,640,319 shares of the financial services provider’s stock worth $76,101,000 after purchasing an additional 1,521,079 shares during the last quarter. Institutional investors own 88.23% 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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