Hovde Group Analysts Give First Horizon National (FHN) a $22.00 Price Target

First Horizon National (NYSE:FHN) has been assigned a $22.00 price objective by research analysts at Hovde Group in a report issued on Monday. The firm currently has a “hold” rating on the financial services provider’s stock. Hovde Group’s target price would suggest a potential upside of 9.45% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $22.00 price target on shares of First Horizon National in a report on Tuesday, December 5th. Morgan Stanley raised their price target on shares of First Horizon National from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Raymond James Financial raised their price target 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. UBS Group raised shares of First Horizon National from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of First Horizon National from a “sell” rating to a “hold” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.11.

First Horizon National (NYSE FHN) traded down $0.06 during midday trading on Monday, hitting $20.10. 6,697,167 shares of the stock traded hands, compared to its average volume of 3,929,169. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $6,540.00, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. First Horizon National has a 12 month low of $15.84 and a 12 month high of $20.86.

First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $375.30 million during the quarter, compared to analyst estimates of $368.93 million. First Horizon National had a net margin of 11.18% and a return on equity of 8.80%. First Horizon National’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. research analysts expect that First Horizon National will post 1.42 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in FHN. Bartlett & Co. LLC bought a new position in shares of First Horizon National during the fourth quarter worth $179,000. Macquarie Group Ltd. bought a new position in shares of First Horizon National during the third quarter worth $182,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of First Horizon National by 133.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,503 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,438 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of First Horizon National during the fourth quarter worth $232,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of First Horizon National by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 286 shares in the last quarter. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

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First Horizon National 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 (NYSE:FHN)

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