First Horizon National Corp (NYSE:FHN) had its target price lowered by Hovde Group from $21.50 to $20.00 in a report published on Monday morning. Hovde Group currently has a market perform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on FHN. Zacks Investment Research upgraded First Horizon National Corp from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Tuesday, March 21st. Bank of America Corp upgraded First Horizon National Corp from an underperform rating to a neutral rating in a research note on Wednesday, December 21st. JPMorgan Chase & Co. upgraded First Horizon National Corp from a neutral rating to an overweight rating in a research note on Thursday, January 5th. JMP Securities started coverage on First Horizon National Corp in a research note on Thursday, February 2nd. They set a market perform rating for the company. Finally, Wells Fargo & Co upgraded First Horizon National Corp from an underperform rating to a market perform rating in a research note on Monday, January 9th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. First Horizon National Corp presently has an average rating of Hold and a consensus price target of $18.93.

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

Shares of First Horizon National Corp (NYSE:FHN) opened at 18.37 on Monday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 18.94 and a beta of 1.17. First Horizon National Corp has a one year low of $12.46 and a one year high of $20.84. The company’s 50 day moving average price is $18.70 and its 200 day moving average price is $18.58.

First Horizon National Corp (NYSE:FHN) last announced its earnings results on Thursday, April 13th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. First Horizon National Corp had a return on equity of 8.73% and a net margin of 16.57%. The firm earned $306.65 million during the quarter, compared to the consensus estimate of $324.31 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts expect that First Horizon National Corp will post $1.11 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from First Horizon National Corp’s previous quarterly dividend of $0.07. First Horizon National Corp’s dividend payout ratio (DPR) is currently 29.79%.

In other First Horizon National Corp news, EVP John M. Daniel sold 28,987 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $19.96, for a total value of $578,580.52. Following the completion of the sale, the executive vice president now owns 259,042 shares in the company, valued at approximately $5,170,478.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Oakbrook Investments LLC purchased a new stake in shares of First Horizon National Corp during the first quarter worth approximately $191,000. Patten & Patten Inc. TN increased its stake in shares of First Horizon National Corp by 91.8% in the first quarter. Patten & Patten Inc. TN now owns 25,692 shares of the financial services provider’s stock worth $475,000 after buying an additional 12,299 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of First Horizon National Corp by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 59,000 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 1,300 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of First Horizon National Corp during the first quarter worth approximately $556,000. Finally, Bank of Montreal Can increased its stake in shares of First Horizon National Corp by 93.3% in the first quarter. Bank of Montreal Can now owns 114,938 shares of the financial services provider’s stock worth $2,127,000 after buying an additional 55,470 shares in the last quarter. Institutional investors own 81.70% of the company’s stock.

First Horizon National Corp 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.

5 Day Chart for NYSE:FHN

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