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.
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.
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.
