J P Morgan Chase & Co reaffirmed their buy rating on shares of First Horizon National Corporation (NYSE:FHN) in a research report released on Wednesday. J P Morgan Chase & Co currently has a $20.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of First Horizon National Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub upgraded shares of First Horizon National Corporation from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Raymond James Financial, Inc. upgraded shares of First Horizon National Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. UBS AG upgraded shares of First Horizon National Corporation from a market perform rating to an outperform rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of First Horizon National Corporation from a sell rating to a hold rating in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $19.63.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 17.62 on Wednesday. The company’s 50-day moving average is $17.27 and its 200-day moving average is $17.86. First Horizon National Corporation has a 12-month low of $14.60 and a 12-month high of $20.84. The stock has a market cap of $4.13 billion, a P/E ratio of 15.87 and a beta of 1.04.

First Horizon National Corporation (NYSE:FHN) last posted its earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business 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%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, equities research analysts anticipate that First Horizon National Corporation will post $1.10 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 7th. First Horizon National Corporation’s payout ratio is currently 32.43%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neuburgh Advisers LLC increased its position in shares of First Horizon National Corporation by 16.1% during the 1st quarter. Neuburgh Advisers LLC now owns 7,392 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 1,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First Horizon National Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 676 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of First Horizon National Corporation by 16.1% during the 1st quarter. Glen Harbor Capital Management LLC now owns 10,164 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 1,408 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of First Horizon National Corporation during the 1st quarter valued at about $189,000. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of First Horizon National Corporation during the 1st quarter valued at about $192,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

About First Horizon National Corporation

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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