First Horizon National (FHN) Upgraded to “Outperform” by Hovde Group

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Hovde Group upgraded shares of First Horizon National (NYSE:FHN) from a market perform rating to an outperform rating in a research report report published on Friday, Marketbeat reports. Hovde Group currently has $21.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. UBS Group initiated coverage on shares of First Horizon National in a research note on Thursday, March 22nd. They issued a buy rating and a $25.00 target price for the company. FIG Partners raised shares of First Horizon National from a market perform rating to an outperform rating in a research note on Monday, April 16th. Piper Jaffray Companies initiated coverage on shares of First Horizon National in a research note on Monday, April 9th. They issued an overweight rating and a $22.00 target price for the company. Finally, Wells Fargo & Co raised shares of 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $22.17.

First Horizon National opened at $17.84 on Friday, MarketBeat Ratings reports. First Horizon National has a 1-year low of $15.84 and a 1-year 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 firm has a market capitalization of $5.84 billion, a P/E ratio of 16.07, a PEG ratio of 1.73 and a beta of 0.98.

First Horizon National (NYSE:FHN) last released its earnings results on Friday, April 13th. The financial services provider reported $0.34 earnings per share for the quarter, beating the 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 period last year, the business earned $0.23 earnings per share. The firm’s revenue was up 42.6% on a year-over-year basis. sell-side analysts anticipate that First Horizon National will post 1.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, June 7th. First Horizon National’s dividend payout ratio is 43.24%.

A number of institutional investors have recently made changes to their positions in FHN. First Mercantile Trust Co. lifted its holdings in First Horizon National by 91.8% during the 1st quarter. First Mercantile Trust Co. now owns 7,615 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 3,644 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in First Horizon National during the 4th quarter valued at $165,000. Twin Tree Management LP acquired a new stake in First Horizon National during the 1st quarter valued at $177,000. Timber Hill LLC acquired a new stake in First Horizon National during the 1st quarter valued at $192,000. Finally, Jefferies Group LLC acquired a new stake in First Horizon National during the 4th quarter valued at $212,000. 82.89% of the stock is owned by institutional investors and hedge funds.

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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