First Horizon National Corporation (FHN) Receives $21.14 Average PT from Analysts
First Horizon National Corporation (NYSE:FHN) has been given a consensus rating of “Hold” by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.14.
A number of analysts recently weighed in on the stock. Raymond James Financial upped their target price on shares of First Horizon National from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (up from $19.50) on shares of First Horizon National in a research note on Wednesday, October 4th. UBS raised shares of First Horizon National from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of First Horizon National from a “buy” rating to a “sell” rating in a research note on Tuesday, September 19th. Finally, ValuEngine cut shares of First Horizon National from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
In other news, CFO William C. Losch III sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the sale, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William C. Losch III sold 45,107 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the sale, the chief financial officer now directly owns 275,497 shares in the company, valued at $5,132,509.11. The disclosure for this sale can be found here. Insiders have sold 54,056 shares of company stock worth $1,010,022 over the last ninety days. Insiders own 2.09% of the company’s stock.
First Horizon National (FHN) traded up $0.01 during midday trading on Friday, reaching $20.55. 2,799,036 shares of the company were exchanged, compared to its average volume of 3,172,226. The company has a market capitalization of $4,726.77, a PE ratio of 19.22, a P/E/G ratio of 2.60 and a beta of 1.03. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.84. 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 posted its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $340.48 million. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. During the same quarter in the previous year, the firm posted $0.27 earnings per share. equities analysts predict that First Horizon National will post 1.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.75%. First Horizon National’s dividend payout ratio is 32.14%.
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About First Horizon National
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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