First Horizon National Upgraded by Keefe, Bruyette & Woods to Outperform (FHN)
First Horizon National (NYSE:FHN) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $15.00 price target on the stock, up from their previous price target of $12.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 24.58% from the company’s current price.
First Horizon National (NYSE:FHN) traded down 0.66% during mid-day trading on Wednesday, hitting $12.04. 1,483,075 shares of the company’s stock traded hands. First Horizon National has a 52-week low of $10.60 and a 52-week high of $12.74. The stock has a 50-day moving average of $11.7 and a 200-day moving average of $11.7. The company has a market cap of $2.855 billion and a price-to-earnings ratio of 45.74.
First Horizon National (NYSE:FHN) last announced its earnings results on Friday, July 18th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.03. The company had revenue of $283.69 million for the quarter, compared to the consensus estimate of $284.32 million. During the same quarter last year, the company posted $0.17 earnings per share. First Horizon National’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that First Horizon National will post $0.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, September 10th.
Separately, analysts at Compass Point cut their price target on shares of First Horizon National from $14.50 to $13.50 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.55.
First Horizon National Corporation (NYSE:FHN) is a bank holding company.
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