Several brokerages have updated their recommendations and price targets on shares of First Horizon National Corporation (NYSE: FHN) in the last few weeks:

  • 10/9/2017 – First Horizon National Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of First Horizon have underperformed the industry so far this year. Yet, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. Further, First Horizon's focus on cost control and efforts to strengthen its core Tennessee banking franchise bode well for the long term. Moreover, its inorganic growth strategies are likely to support the top line. However, higher legal costs resulting from numerous litigations are likely to weigh on the company’s profitability. Further, high exposure to commercial and commercial real estate loans seems risky. Also, the company's capital deployment activities do not seem sustainable on account of unfavorable debt/equity and dividend payout ratios.”
  • 10/4/2017 – First Horizon National Corporation had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $20.00 price target on the stock, up previously from $19.50.
  • 10/3/2017 – First Horizon National Corporation had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $20.00 price target on the stock.
  • 9/27/2017 – First Horizon National Corporation had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $19.50 price target on the stock.
  • 9/19/2017 – First Horizon National Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “sell” rating. According to Zacks, “Shares of First Horizon have underperformed the industry so far this year. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Further, its focus on cost control and efforts to strengthen its core Tennessee banking franchise bode well for the long term. Also, the Fed rate hikes have eased the pressure on margins to some extent. Moreover, First Horizon’s inorganic growth strategies are likely to support the top line. Improving credit quality is also a tailwind.  However, higher legal costs resulting from numerous litigations are likely to weigh on the company’s profitability. Further, high exposure to commercial and commercial real estate loans seems risky.”
  • 9/18/2017 – First Horizon National Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock. According to Zacks, “Shares of First Horizon have outperformed the industry over the past year. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Further, its focus on cost control and efforts to strengthen its core Tennessee banking franchise bode well for the long term. Also, the Fed rate hikes have eased the pressure on margins to some extent. Moreover, First Horizon’s inorganic growth strategies are likely to support the top line. Improving credit quality is also a tailwind.  However, higher legal costs resulting from numerous litigations are likely to weigh on the company’s profitability.”
  • 9/13/2017 – First Horizon National Corporation had its “buy” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $20.00 price target on the stock.
  • 9/1/2017 – First Horizon National Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/26/2017 – First Horizon National Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

First Horizon National Corporation (FHN) opened at 19.12 on Thursday. The company’s 50-day moving average price is $17.92 and its 200-day moving average price is $17.78. First Horizon National Corporation has a 52 week low of $14.60 and a 52 week high of $20.84. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 17.23 and a beta of 1.05.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 annualized dividend and a yield of 1.88%. First Horizon National Corporation’s dividend payout ratio (DPR) is currently 32.43%.

In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total transaction of $840,343.41. Following the completion of the sale, the chief financial officer now directly owns 275,497 shares in the company, valued at approximately $5,132,509.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

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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