Today: First Horizon National Corp. (FHN) Upgrade to Buy at Jefferies Group

Today: First Horizon National Corp. (FHN) Upgrade to Buy at Jefferies Group

First Horizon National Corp. (NYSE:FHN) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded First Horizon National Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, October 4th. Deutsche Bank AG lifted their price objective on First Horizon National Corp. from $13.50 to $15.50 and gave the stock a “hold” rating in a report on Monday, September 26th. Wells Fargo & Co. lowered First Horizon National Corp. from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 23rd. Finally, Hovde Group lowered First Horizon National Corp. from an “outperform” rating to a “market perform” rating and set a $16.50 price objective for the company. in a report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. First Horizon National Corp. has an average rating of “Hold” and a consensus target price of $15.83.

Shares of First Horizon National Corp. (NYSE:FHN) opened at 18.71 on Monday. The stock has a market cap of $4.36 billion, a PE ratio of 20.63 and a beta of 1.07. First Horizon National Corp. has a one year low of $11.51 and a one year high of $19.26. The company’s 50-day moving average price is $16.25 and its 200-day moving average price is $14.96.

First Horizon National Corp. (NYSE:FHN) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. First Horizon National Corp. had a return on equity of 8.54% and a net margin of 16.40%. During the same period in the previous year, the company earned $0.23 earnings per share. Equities research analysts anticipate that First Horizon National Corp. will post $0.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, December 7th. First Horizon National Corp.’s dividend payout ratio (DPR) is 30.77%.

In other news, insider Michael E. Kisber sold 338,187 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $15.25, for a total value of $5,157,351.75. Following the completion of the transaction, the insider now owns 473,309 shares of the company’s stock, valued at $7,217,962.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David T. Popwell sold 110,422 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $15.12, for a total value of $1,669,580.64. Following the completion of the transaction, the insider now directly owns 299,844 shares of the company’s stock, valued at approximately $4,533,641.28. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FHN. Carroll Financial Associates Inc. raised its position in First Horizon National Corp. by 1.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,000 shares of the financial services provider’s stock worth $106,000 after buying an additional 106 shares during the period. Riverhead Capital Management LLC raised its position in First Horizon National Corp. by 1,280.7% in the third quarter. Riverhead Capital Management LLC now owns 7,000 shares of the financial services provider’s stock worth $107,000 after buying an additional 6,493 shares during the period. BlackRock Japan Co. Ltd raised its position in First Horizon National Corp. by 101,900.0% in the third quarter. BlackRock Japan Co. Ltd now owns 7,140 shares of the financial services provider’s stock worth $109,000 after buying an additional 7,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Horizon National Corp. by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,796 shares of the financial services provider’s stock worth $119,000 after buying an additional 853 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in First Horizon National Corp. by 1,937.4% in the third quarter. Tower Research Capital LLC TRC now owns 8,231 shares of the financial services provider’s stock worth $125,000 after buying an additional 7,827 shares during the period. 82.65% of the stock is owned by hedge funds and other institutional investors.

First Horizon National Corp. Company Profile

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