First Horizon National Corporation (NYSE:FHN) was upgraded by analysts at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday.

Several other brokerages have also recently issued reports on FHN. Hovde Group dropped their price objective on shares of First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating on the stock in a research note on Monday, April 17th. Barclays PLC dropped their price objective on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 19th. ValuEngine raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. BidaskClub raised shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Stephens reissued a “hold” rating on shares of First Horizon National Corporation in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.57.

Shares of First Horizon National Corporation (FHN) opened at 17.69 on Thursday. First Horizon National Corporation has a 52-week low of $14.60 and a 52-week high of $20.84. The company’s 50-day moving average is $17.52 and its 200 day moving average is $18.38. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 15.94 and a beta of 1.06.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $328.37 million for the quarter, compared to analysts’ expectations of $331.27 million. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. First Horizon National Corporation’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, analysts expect that First Horizon National Corporation will post $1.10 earnings per share for the current fiscal year.

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In other news, Director Vicki R. Palmer sold 5,211 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the transaction, the director now directly owns 57,818 shares of the company’s stock, valued at approximately $1,020,487.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.09% of the company’s stock.

A number of large investors have recently modified their holdings of FHN. LSV Asset Management acquired a new stake in shares of First Horizon National Corporation during the second quarter worth approximately $9,065,000. Calamos Advisors LLC boosted its stake in shares of First Horizon National Corporation by 78.8% in the second quarter. Calamos Advisors LLC now owns 581,328 shares of the financial services provider’s stock worth $10,127,000 after buying an additional 256,224 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of First Horizon National Corporation by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock worth $116,124,000 after buying an additional 258,298 shares during the last quarter. Swiss National Bank boosted its stake in shares of First Horizon National Corporation by 1.3% in the second quarter. Swiss National Bank now owns 389,300 shares of the financial services provider’s stock worth $6,782,000 after buying an additional 5,000 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of First Horizon National Corporation during the second quarter worth approximately $242,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon National Corporation Company Profile

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.

Analyst Recommendations for First Horizon National Corporation (NYSE:FHN)

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