First Horizon National Corporation (NYSE:FHN)‘s stock had its “buy” rating restated by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday. They presently have a $20.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 4.33% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS AG raised shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Deutsche Bank AG reiterated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Zacks Investment Research raised shares of First Horizon National Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Morgan Stanley reissued an “equal weight” rating and set a $19.50 target price on shares of First Horizon National Corporation in a research note on Wednesday, September 27th. Finally, Hovde Group reduced their target price on shares of First Horizon National Corporation from $20.50 to $20.00 and set a “market perform” rating for the company in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. First Horizon National Corporation has an average rating of “Hold” and a consensus target price of $19.39.

Shares of First Horizon National Corporation (NYSE FHN) traded down 0.16% during mid-day trading on Tuesday, hitting $19.17. 2,617,649 shares of the company’s stock traded hands. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84. The stock has a 50 day moving average price of $17.57 and a 200-day moving average price of $17.73. The stock has a market cap of $4.49 billion, a P/E ratio of 17.27 and a beta of 1.05.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The firm had revenue of $328.37 million for the quarter, compared to analysts’ expectations of $331.27 million. During the same period in the previous year, the business earned $0.24 earnings per share. First Horizon National Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that First Horizon National Corporation will post $1.10 EPS for the current fiscal year.

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In other news, CFO William C. Losch III sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the sale, the chief financial officer now owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William C. Losch III sold 45,107 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the completion of 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 disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in First Horizon National Corporation by 5,232.8% during the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock valued at $395,561,000 after buying an additional 20,980,798 shares during the period. Millennium Management LLC lifted its position in shares of First Horizon National Corporation by 238.6% in the fourth quarter. Millennium Management LLC now owns 4,767,727 shares of the financial services provider’s stock worth $69,227,000 after purchasing an additional 3,359,462 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of First Horizon National Corporation by 404.0% in the fourth quarter. Franklin Resources Inc. now owns 4,175,200 shares of the financial services provider’s stock worth $83,546,000 after purchasing an additional 3,346,800 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of First Horizon National Corporation by 123.1% in the third quarter. Victory Capital Management Inc. now owns 5,721,506 shares of the financial services provider’s stock worth $87,139,000 after purchasing an additional 3,157,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of First Horizon National Corporation by 137.9% in the second quarter. Goldman Sachs Group Inc. now owns 4,862,020 shares of the financial services provider’s stock worth $84,697,000 after purchasing an additional 2,817,897 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

First Horizon National Corporation 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 Corporation (NYSE:FHN)

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