First Horizon National Corp. (FHN) Reaches New 52-Week High at $15.47
First Horizon National Corp. (NYSE:FHN) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $15.47 and last traded at $15.47, with a volume of 1,516,881 shares trading hands. The stock had previously closed at $15.24.
FHN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of First Horizon National Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, June 15th. Wells Fargo & Co. lowered shares of First Horizon National Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 23rd. Barclays PLC increased their price objective 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. reiterated a “hold” rating and issued a $15.50 price objective on shares of First Horizon National Corp. in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $15.03.
The company has a market cap of $3.59 billion and a price-to-earnings ratio of 17.55. The stock’s 50-day moving average is $14.90 and its 200-day moving average is $13.88.
First Horizon National Corp. (NYSE:FHN) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. During the same period in the previous year, the company earned $0.22 EPS. The company had revenue of $321.78 million for the quarter. The company’s revenue was up 8.4% on a year-over-year basis. On average, analysts predict that First Horizon National Corp. will post $0.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.81%.
In related news, Director R Brad Martin acquired 5,267 shares of First Horizon National Corp. stock in a transaction dated Wednesday, June 8th. The stock was acquired at an average price of $25.94 per share, for a total transaction of $136,625.98. Following the transaction, the director now owns 191 shares of the company’s stock, valued at $4,954.54. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Vicki R. Palmer sold 6,362 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $13.93, for a total transaction of $88,622.66. Following the sale, the director now owns 51,896 shares of the company’s stock, valued at approximately $722,911.28. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in First Horizon National Corp. stock. BlackRock Advisors LLC increased its stake in First Horizon National Corp. (NYSE:FHN) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 974,780 shares of the financial services provider’s stock after buying an additional 42,001 shares during the period. BlackRock Advisors LLC owned about 0.41% of First Horizon National Corp. worth $14,154,000 as of its most recent filing with the SEC.
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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