First Horizon National (NYSE:FHN) was upgraded by stock analysts at Vining Sparks to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $25.00 target price on the financial services provider’s stock. Vining Sparks’ price target would suggest a potential upside of 24.44% from the stock’s previous close.
FHN has been the subject of several other research reports. Raymond James Financial increased their target price on shares of First Horizon National from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective (up previously from $19.50) on shares of First Horizon National in a report on Wednesday, October 4th. UBS Group upgraded shares of First Horizon National from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, November 8th. Barclays raised their price objective on shares of First Horizon National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Zacks Investment Research downgraded shares of First Horizon National from a “buy” rating to a “sell” rating in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.67.
Shares of First Horizon National (NYSE FHN) traded down $0.18 during mid-day trading on Monday, hitting $20.09. 2,645,313 shares of the stock traded hands, compared to its average volume of 3,430,750. The stock has a market capitalization of $4,747.85, a P/E ratio of 17.94, a P/E/G ratio of 2.25 and a beta of 1.03. 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 52 week low of $15.84 and a 52 week high of $20.86.
In other news, Director R Brad Martin sold 5,449 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the transaction, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FHN. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Horizon National by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 676 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in First Horizon National in the third quarter valued at approximately $182,000. Ladenburg Thalmann Financial Services Inc. raised its stake in First Horizon National by 133.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 5,438 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in First Horizon National by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 286 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in First Horizon National by 63.2% in the second quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 5,183 shares in the last quarter. Institutional investors own 88.97% of the company’s stock.
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About First Horizon National
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.
