Royal Bank Of Canada reiterated their hold rating on shares of First Horizon National (NYSE:FHN) in a report released on Tuesday. The firm currently has a $22.00 price target on the financial services provider’s stock.

FHN has been the subject of a number of other research reports. UBS raised shares of First Horizon National from a market perform rating to an outperform rating in a research report on Thursday, August 10th. Raymond James Financial increased their price objective on shares of First Horizon National from $20.00 to $22.00 and gave the stock an outperform rating in a research report on Monday, October 16th. Morgan Stanley reaffirmed an equal weight rating and set a $20.00 price objective (up previously from $19.50) on shares of First Horizon National in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of First Horizon National from a buy rating to a sell rating in a research report on Tuesday, September 19th. Finally, ValuEngine cut shares of First Horizon National from a buy rating to a hold rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. First Horizon National currently has an average rating of Hold and an average price target of $20.75.

First Horizon National (NYSE:FHN) traded up $0.11 during mid-day trading on Tuesday, reaching $20.13. 4,071,600 shares of the company’s stock were exchanged, compared to its average volume of 703,116. The firm has a market cap of $4,689.29, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.58 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 has a 12 month low of $18.68 and a 12 month high of $45.00.

First Horizon National (NYSE:FHN) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $337.00 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.27 EPS. analysts anticipate that First Horizon National will post 1.11 earnings per share for the current year.

The firm 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 $0.09 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.79%. First Horizon National’s dividend payout ratio is presently 32.14%.

In other news, Director R Brad Martin sold 5,449 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $19.25, for a total transaction of $104,893.25. Following the transaction, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was 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 in the company, valued at $5,132,509.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,056 shares of company stock worth $1,010,022. 2.09% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of FHN. Public Employees Retirement System of Ohio boosted its stake in shares of First Horizon National by 3.8% in the third quarter. Public Employees Retirement System of Ohio now owns 88,447 shares of the financial services provider’s stock valued at $1,694,000 after purchasing an additional 3,222 shares during the period. Gofen & Glossberg LLC IL purchased a new position in shares of First Horizon National in the third quarter valued at $315,000. California Public Employees Retirement System boosted its stake in shares of First Horizon National by 3.0% in the third quarter. California Public Employees Retirement System now owns 627,657 shares of the financial services provider’s stock valued at $12,020,000 after purchasing an additional 18,418 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of First Horizon National by 133.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 5,438 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of First Horizon National by 362.5% in the third quarter. Cubist Systematic Strategies LLC now owns 42,554 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 33,354 shares during the period. Institutional investors and hedge funds own 89.03% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.watchlistnews.com/first-horizon-nationals-fhn-hold-rating-reiterated-at-royal-bank-of-canada/1752320.html.

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.

Analyst Recommendations for First Horizon National (NYSE:FHN)

Receive News & Ratings for First Horizon National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.