Analysts Set First Horizon National Co. (FHN) Target Price at $22.33

Shares of First Horizon National Co. (NYSE:FHN) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.33.

FHN has been the subject of a number of analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $21.00 price target on shares of First Horizon National in a research report on Monday, December 4th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of First Horizon National in a research report on Tuesday, December 5th. Morgan Stanley boosted their price target on First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Vining Sparks raised First Horizon National to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, January 8th. Finally, Zacks Investment Research raised First Horizon National from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 9th.

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In related news, insider Michael E. Kisber sold 160,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $20.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the insider now owns 568,904 shares of the company’s stock, valued at approximately $11,378,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John M. Daniel sold 22,389 shares of the business’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $19.79, for a total value of $443,078.31. The disclosure for this sale can be found here. Insiders have sold a total of 257,096 shares of company stock valued at $5,156,207 in the last three months. 1.75% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exane Derivatives bought a new position in First Horizon National during the fourth quarter valued at about $101,000. First Interstate Bank bought a new position in First Horizon National during the fourth quarter valued at about $103,000. Cerebellum GP LLC bought a new position in First Horizon National during the fourth quarter valued at about $124,000. Salem Investment Counselors Inc. bought a new position in First Horizon National during the fourth quarter valued at about $165,000. Finally, Bartlett & Co. LLC bought a new position in First Horizon National during the fourth quarter valued at about $179,000. 82.92% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:FHN traded down $0.32 on Monday, reaching $18.51. The company had a trading volume of 3,363,013 shares, compared to its average volume of 3,304,412. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.86. The stock has a market capitalization of $6,154.27, a P/E ratio of 16.68, a P/E/G ratio of 1.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90.

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

First Horizon National declared that its board has authorized a stock repurchase program on Tuesday, January 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, March 8th. This is a boost from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s payout ratio is currently 43.24%.

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About First Horizon National

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Analyst Recommendations for First Horizon National (NYSE:FHN)

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