First Horizon National Corp. (FHN) Sees Unusually-High Trading Volume
First Horizon National Corp. (NYSE:FHN) saw unusually-high trading volume on Friday . Approximately 2,173,938 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 1,826,378 shares.The stock last traded at $15.09 and had previously closed at $15.13.
FHN has been the subject of a number of recent research reports. Zacks Investment Research cut shares of First Horizon National Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC lifted their price target on shares of First Horizon National Corp. from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $15.50 price target on shares of First Horizon National Corp. in a research note on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.03.
The stock’s 50 day moving average is $14.54 and its 200-day moving average is $13.67. The company has a market capitalization of $3.50 billion and a P/E ratio of 17.12.
First Horizon National Corp. (NYSE:FHN) last issued its earnings results on Friday, July 15th. The financial services provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The business earned $321.78 million during the quarter. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS. Equities analysts anticipate that First Horizon National Corp. will post $0.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, September 7th.
In other First Horizon National Corp. news, Director R Brad Martin bought 5,267 shares of First Horizon National Corp. stock in a transaction dated Wednesday, June 8th. The stock was acquired at an average cost of $25.94 per share, for a total transaction of $136,625.98. Following the completion of the transaction, the director now directly owns 191 shares of the company’s stock, valued at $4,954.54. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vicki R. Palmer sold 6,362 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $13.93, for a total transaction of $88,622.66. Following the completion of the sale, the director now owns 51,896 shares of the company’s stock, valued at $722,911.28. The disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. BlackRock Advisors LLC boosted its stake in shares of First Horizon National Corp. by 4.5% in the fourth quarter. BlackRock Advisors LLC now owns 974,780 shares of the financial services provider’s stock worth $14,154,000 after buying an additional 42,001 shares during the period. State of Tennessee Treasury Department boosted its stake in First Horizon National Corp. by 5.3% in the fourth quarter. State of Tennessee Treasury Department now owns 400,000 shares of the financial services provider’s stock valued at $5,808,000 after buying an additional 20,000 shares during the last quarter. Finally, Airain ltd purchased a new stake in First Horizon National Corp. during the fourth quarter valued at about $1,762,000.
First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.
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