First Horizon National Corp (NYSE:FHN) insider Michael E. Kisber sold 44,707 shares of First Horizon National stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $20.21, for a total transaction of $903,528.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
First Horizon National Corp (FHN) traded down $0.08 during trading on Monday, hitting $20.29. 2,991,885 shares of the stock traded hands, compared to its average volume of 3,395,220. The stock has a market capitalization of $6,657.60, a P/E ratio of 29.41, a P/E/G ratio of 2.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. First Horizon National Corp has a 1-year low of $15.84 and a 1-year high of $20.86.
First Horizon National (NYSE:FHN) last released its earnings results on Friday, January 19th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $375.30 million for the quarter, compared to the consensus estimate of $368.93 million. First Horizon National had a net margin of 11.18% and a return on equity of 8.80%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. research analysts predict that First Horizon National Corp will post 1.42 earnings per share for the current fiscal year.
First Horizon National declared that its board has authorized a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently issued reports on FHN shares. Barclays reaffirmed an “equal weight” rating and issued a $21.00 price objective on shares of First Horizon National in a research note on Monday, December 4th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $22.00 price objective on shares of First Horizon National in a research note on Tuesday, December 5th. Morgan Stanley lifted their price objective on shares of First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Vining Sparks raised shares of First Horizon National to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, January 8th. Finally, Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.11.
Institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives purchased a new position in shares of First Horizon National in the fourth quarter worth approximately $101,000. First Interstate Bank acquired a new stake in shares of First Horizon National during the fourth quarter worth approximately $103,000. Cerebellum GP LLC acquired a new stake in shares of First Horizon National during the fourth quarter worth approximately $124,000. Salem Investment Counselors Inc. acquired a new stake in shares of First Horizon National during the fourth quarter worth approximately $165,000. Finally, Bartlett & Co. LLC acquired a new stake in shares of First Horizon National during the fourth quarter worth approximately $179,000. 82.92% of the stock is currently owned by institutional investors and hedge funds.
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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.
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