Analysts Set First Horizon National Co. (FHN) Target Price at $22.09

First Horizon National Co. (NYSE:FHN) has received an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.09.

Several equities research analysts recently weighed in on FHN shares. Barclays upped their price objective on shares of First Horizon National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Wells Fargo raised First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Thursday, April 5th. UBS started coverage on First Horizon National in a research note on Thursday, March 22nd. They set a “buy” rating and a $25.00 target price for the company. FIG Partners raised First Horizon National from a “market perform” rating to an “outperform” rating in a research note on Monday, April 16th. Finally, Zacks Investment Research downgraded First Horizon National from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th.

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

Institutional investors have recently added to or reduced their stakes in the company. Oak Hill Capital Management LLC acquired a new position in shares of First Horizon National in the fourth quarter valued at approximately $107,835,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Horizon National by 54.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,361 shares of the financial services provider’s stock valued at $287,000 after buying an additional 5,073 shares during the period. First Interstate Bank acquired a new position in shares of First Horizon National in the fourth quarter valued at approximately $103,000. New Mexico Educational Retirement Board acquired a new position in shares of First Horizon National in the fourth quarter valued at approximately $1,600,000. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of First Horizon National by 2.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,733,922 shares of the financial services provider’s stock valued at $34,661,000 after buying an additional 33,639 shares during the period. 83.03% of the stock is owned by institutional investors.

FHN opened at $18.67 on Friday. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90. The stock has a market cap of $6,101.98, a P/E ratio of 15.18, a PEG ratio of 1.83 and a beta of 0.99.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. First Horizon National had a net margin of 12.30% and a return on equity of 9.37%. The business had revenue of $437.20 million during the quarter, compared to analysts’ expectations of $438.60 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. First Horizon National’s revenue was up 42.6% compared to the same quarter last year. analysts anticipate that First Horizon National will post 1.45 EPS for the current fiscal year.

First Horizon National declared that its board has initiated a stock buyback plan on Tuesday, January 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.57%. This is an increase from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s dividend payout ratio is currently 43.24%.

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First Horizon National Company Profile

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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