First Horizon National Corp. (FHN) Sees Unusually-High Trading Volume
First Horizon National Corp. (NYSE:FHN) saw strong trading volume on Friday . 2,173,938 shares changed hands during 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.
Several analysts have recently weighed in on the stock. 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. JPMorgan Chase & Co. reissued a “hold” rating and issued a $15.50 price target on shares of First Horizon National Corp. in a research note on Monday, July 18th. Finally, Barclays PLC increased their price target on shares of First Horizon National Corp. from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.03.
The firm has a market cap of $3.50 billion and a P/E ratio of 17.12. The stock has a 50 day moving average price of $14.54 and a 200-day moving average price of $13.67.
First Horizon National Corp. (NYSE:FHN) last announced its earnings results on Friday, July 15th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $321.78 million for the quarter. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Equities research analysts predict 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. Shareholders of record on Friday, September 9th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, September 7th.
In other First Horizon National Corp. news, Director Vicki R. Palmer sold 6,362 shares of First Horizon National Corp. 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 transaction, the director now owns 51,896 shares in the company, valued at $722,911.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Brad Martin bought 5,267 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were acquired at an average price of $25.94 per share, with a total value of $136,625.98. Following the transaction, the director now owns 191 shares of the company’s stock, valued at approximately $4,954.54. The disclosure for this purchase can be found here.
A number of institutional investors have made changes to their positions in FHN. Airain ltd acquired a new position in shares of First Horizon National Corp. during the fourth quarter worth about $1,762,000. BlackRock Advisors LLC increased 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. Finally, State of Tennessee Treasury Department increased its stake in shares of 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 worth $5,808,000 after buying an additional 20,000 shares during the period.
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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