First Horizon National Corp. Lowered to Sector Perform at RBC Capital (FHN)
First Horizon National Corp. (NYSE:FHN) was downgraded by investment analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $11.00 price target on the stock, down from their previous price target of $13.00. RBC Capital’s price objective would suggest a potential upside of 2.14% from the stock’s previous close.
Shares of First Horizon National Corp. (NYSE:FHN) traded down 1.19% on Monday, hitting $10.77. The stock had a trading volume of 1,910,212 shares. First Horizon National Corp. has a 52-week low of $8.90 and a 52-week high of $12.74. The stock has a 50-day moving average of $11.78 and a 200-day moving average of $11.24. The company has a market cap of $2.545 billion and a P/E ratio of 173.02.
First Horizon National Corp. (NYSE:FHN) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.19. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, analysts predict that First Horizon National Corp. will post $0.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, December 11th.
A number of other firms have also recently commented on FHN. Analysts at Guggenheim cut their price target on shares of First Horizon National Corp. from $13.50 to $12.50 in a research note to investors on Monday, September 30th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of First Horizon National Corp. in a research note to investors on Wednesday, September 18th. They now have a $12.00 price target on the stock. Finally, analysts at Compass Point upgraded shares of First Horizon National Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, September 12th. They now have a $13.00 price target on the stock, up previously from $11.50. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $11.44.
First Horizon National Corporation (NYSE:FHN) is a bank holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.