Morgan Stanley reissued their equal weight rating on shares of First Horizon National Corporation (NYSE:FHN) in a research note released on Wednesday morning. They currently have a $20.00 price target on the financial services provider’s stock, up from their prior price target of $19.50.

FHN has been the subject of several other reports. UBS AG upgraded First Horizon National Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Keefe, Bruyette & Woods restated a buy rating and issued a $21.00 target price on shares of First Horizon National Corporation in a research note on Monday, June 12th. Deutsche Bank AG reaffirmed a hold rating on shares of First Horizon National Corporation in a research report on Monday, July 3rd. Zacks Investment Research raised shares of First Horizon National Corporation from a sell rating to a hold rating in a research report on Tuesday, July 18th. Finally, Hovde Group dropped their price target on shares of First Horizon National Corporation from $20.50 to $20.00 and set a market perform rating on the stock in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. First Horizon National Corporation currently has a consensus rating of Hold and an average price target of $19.44.

Shares of First Horizon National Corporation (FHN) traded down 0.21% during mid-day trading on Wednesday, hitting $19.22. The stock had a trading volume of 2,665,140 shares. The firm’s 50 day moving average price is $17.73 and its 200 day moving average price is $17.75. The company has a market cap of $4.50 billion, a P/E ratio of 17.32 and a beta of 1.05. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last issued its earnings results on Friday, July 14th. The financial services provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $328.37 million during the quarter, compared to the consensus estimate of $331.27 million. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. Analysts predict that First Horizon National Corporation will post $1.10 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. First Horizon National Corporation’s dividend payout ratio is currently 32.43%.

In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of First Horizon National Corporation 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 transaction, the chief financial officer now owns 275,497 shares of the company’s stock, valued at approximately $5,132,509.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William C. Losch III sold 3,500 shares of First Horizon National Corporation stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the transaction, the chief financial officer now directly owns 233,890 shares in the company, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of First Horizon National Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after buying an additional 676 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of First Horizon National Corporation during the 1st quarter worth approximately $189,000. Greenwood Capital Associates LLC lifted its position in shares of First Horizon National Corporation by 7.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after buying an additional 757 shares in the last quarter. United Capital Financial Advisers LLC lifted its position in shares of First Horizon National Corporation by 1.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after buying an additional 157 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of First Horizon National Corporation during the 1st quarter worth approximately $225,000. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

About First Horizon National Corporation

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.

Analyst Recommendations for First Horizon National Corporation (NYSE:FHN)

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