First Horizon National Corp. (FHN) Sets New 12-Month High at $15.47
Shares of First Horizon National Corp. (NYSE:FHN) reached a new 52-week high during 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 changing hands. The stock had previously closed at $15.24.
A number of analysts have commented on the company. Zacks Investment Research upgraded First Horizon National Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, June 15th. Wells Fargo & Co. cut First Horizon National Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 23rd. Barclays PLC upped their price target on First Horizon National Corp. from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $15.50 price target on shares of First Horizon National Corp. in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.03.
The company’s 50-day moving average price is $14.90 and its 200 day moving average price is $13.88. The stock has a market capitalization of $3.59 billion and a P/E ratio of 17.55.
First Horizon National Corp. (NYSE:FHN) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. During the same period in the prior year, the company posted $0.22 earnings per share. The firm had revenue of $321.78 million for the quarter. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that First Horizon National Corp. will post $0.95 EPS for the current year.
The company also recently declared 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. The ex-dividend date is Wednesday, September 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.81%.
In related news, Director R Brad Martin acquired 5,267 shares of First Horizon National Corp. stock in a transaction on 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 purchase, the director now owns 191 shares of the company’s stock, valued at approximately $4,954.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman D Bryan Jordan sold 461,187 shares of First Horizon National Corp. stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $15.05, for a total value of $6,940,864.35. Following the transaction, the chairman now owns 821,178 shares of the company’s stock, valued at approximately $12,358,728.90. The disclosure for this sale can be found here.
An institutional investor recently raised its position in First Horizon National Corp. stock. State of Tennessee Treasury Department increased its position in shares of First Horizon National Corp. (NYSE:FHN) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the financial services provider’s stock after buying an additional 20,000 shares during the period. State of Tennessee Treasury Department owned 0.17% of First Horizon National Corp. worth $5,808,000 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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