Somewhat Favorable Media Coverage Somewhat Unlikely to Impact First Horizon National (FHN) Stock Price
Media stories about First Horizon National (NYSE:FHN) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern scores the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. First Horizon National earned a coverage optimism score of 0.21 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 45.5621446459058 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
FHN has been the topic of several recent research reports. Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, September 18th. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Horizon National in a report on Wednesday, September 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $20.00 price target on shares of First Horizon National in a report on Tuesday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target (up from $19.50) on shares of First Horizon National in a report on Wednesday, October 4th. Finally, ValuEngine lowered shares of First Horizon National from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.22.
First Horizon National (FHN) traded up $0.56 during mid-day trading on Tuesday, hitting $19.06. 4,355,930 shares of the stock traded hands, compared to its average volume of 2,846,468. 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 twelve month low of $15.84 and a twelve month high of $20.84. The stock has a market cap of $4,319.21, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.37 and a beta of 1.02.
First Horizon National (NYSE:FHN) last posted its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The business had revenue of $337.00 million for the quarter, compared to analyst estimates of $340.48 million. During the same period in the prior year, the company posted $0.27 EPS. research analysts expect that First Horizon National will post 1.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, November 2nd. First Horizon National’s payout ratio is currently 32.14%.
In other news, CFO William C. Losch III sold 45,107 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,132,509.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin sold 5,449 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $19.25, for a total transaction of $104,893.25. Following the sale, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,056 shares of company stock worth $1,010,022. Corporate insiders own 2.09% of the company’s stock.
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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.
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