First Horizon National Corp (NYSE:FHN) Receives $15.05 Average Price Target from Brokerages

First Horizon National Corp (NYSE:FHN) has been given a consensus recommendation of “Hold” by the fourteen research firms that are presently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.05.

FHN has been the topic of a number of recent research reports. RBC Capital cut their price target on shares of First Horizon National Corp from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Monday, October 19th. Guggenheim started coverage on shares of First Horizon National Corp in a report on Thursday, October 8th. They issued a “buy” rating and a $18.00 target price on the stock. Jefferies Group restated a “hold” rating and issued a $13.00 target price on shares of First Horizon National Corp in a report on Monday, October 19th. Barclays dropped their target price on shares of First Horizon National Corp from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Finally, Deutsche Bank boosted their target price on shares of First Horizon National Corp from $12.00 to $13.00 and gave the company a “hold” rating in a report on Monday, November 2nd.

In other news, Director Vicki R. Palmer sold 5,579 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $15.30, for a total value of $85,358.70. Following the transaction, the director now owns 22,020 shares of the company’s stock, valued at approximately $336,906. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

A hedge fund recently raised its stake in First Horizon National Corp stock. KBC Group increased its stake in First Horizon National Corp (NYSE:FHN) by 48.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,646 shares of the financial services provider’s stock after buying an additional 70,845 shares during the period. KBC Group owned 0.09% of First Horizon National Corp worth $3,058,000 as of its most recent filing with the SEC.

First Horizon National Corp (NYSE:FHN) traded down 3.24% during trading on Monday, reaching $14.05. The company’s stock had a trading volume of 1,046,681 shares. The company has a market cap of $3.29 billion and a P/E ratio of 42.71. The stock’s 50-day moving average is $14.67 and its 200 day moving average is $14.88. First Horizon National Corp has a 12 month low of $11.97 and a 12 month high of $16.35.

First Horizon National Corp (NYSE:FHN) last issued its quarterly earnings results on Friday, October 16th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The business had revenue of $288.70 million for the quarter, compared to analyst estimates of $297.73 million. During the same quarter last year, the firm posted $0.19 EPS. First Horizon National Corp’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts forecast that First Horizon National Corp will post $0.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 9th.

12 Month Chart for NYSE:FHN

First Horizon National Corporation (NYSE:FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). FHN operates through four segments: regional banking, capital markets, corporate and non-strategic. As of December 31, 2014, FHN’s subsidiaries had over 200 business locations in the United States and Hong Kong. As of December 31, 2014, the Bank had 182 branch locations in seven states: 168 branches in Tennessee; 2 branches in northwestern Georgia; 7 branches in northwestern Mississippi; 2 branches in North Carolina, and one branch each in Virginia, South Carolina, and Florida. At December 31, 2014, FTN Financial products and services were offered through 27 offices in total, including 26 offices in 16 states across the United States plus an office in Hong Kong.

 

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