Economy

LLC Boosts Position in First Horizon National Corporation (FHN)

LLC Boosts Position in First Horizon National Corporation (FHN)

Among 18 analysts covering First Horizon National Corporation (NYSE:FHN), 9 have Buy rating, 0 Sell and 9 Hold. The average investment recommendation on a scale of 1 to 5 (1 being a strong buy, 3 a hold, and 5 a sell) is 2.50, which implies that analysts are generally neutral in their outlook for FHN over the next year. VANGUARD GROUP INC owned 4.04% of First Horizon National Corporation (FHN) worth $458.93 million at the end of the most recent reporting period.The investor is now holding 22,843,440 shares thanks to an increase of 885,883 new shares in their portfolio. The mean target price as estimated by the analysts for the company has been recorded at $21.93. Royal Bank of Canada reaffirmed a "hold" rating and issued a $22.00 price target on shares of First Horizon National in a report on Tuesday, December 5th. Raymond James Financial lifted their price target on First Horizon National from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Monday, October 16th. Barclays boosted their target price on shares of First Horizon National from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 2nd. UBS Group raised First Horizon National from an "outperform" rating to a "strong-buy" rating in a research note on Wednesday, November 8th. Another trade for 5,449 shares valued at $104,917 was made by MARTIN R BRAD on Friday, October 20. For shareholders, given the total diluted outstanding shares of 236.34 million, this means overall earnings per share of 0.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Losch William C III sold $64,768 worth of stock or 3,500 shares. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41.

A public document filed with the SEC on January 9, 2018 revealed that Marc Hanover, the Chief Executive Officer of Gtx Inc, 's company sold 7,309 shares. The disclosure for this sale can be found here. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

Investors may also want to take a longer-term look at company shares. Hedge funds and other institutional investors own 88.97% of the company's stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Horizon National by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider's stock worth $148,000 after buying an additional 676 shares during the period. Mutual Of America Mngmt Ltd Liability reported 0.06% in First Horizon National Corporation (NYSE:FHN). Finally, Credit Suisse AG raised its stake in First Horizon National Corporation by 85.4% in the third quarter.

First Horizon National Corporation operates as the bank holding firm for First Tennessee Bank National Association that provides various financial services in the United States and internationally. Artemis Investment Management LLP raised its stake in First Horizon National Corporation by 105.2% in the fourth quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider's stock worth $233,000 after purchasing an additional 5,183 shares during the period.

More news: ED summons Karti to record statement

Shares of First Horizon National (NYSE:FHN) opened at $20.09 on Tuesday. 688,510 shares of the company were exchanged. GTx has $17 highest and $0.50 lowest target. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. First Horizon National Corporation has 52-Week high of $20.86 and 52-Week Low of $15.84. The financial services provider reported $0.32 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.30 by $0.02. The firm had revenue of $319.60 million for the quarter, compared to the consensus estimate of $330.89 million. First Horizon National Corporation (NYSE:FHN) has risen 21.88% since January 9, 2017 and is uptrending. During the same quarter in the prior year, the firm earned $0.27 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.75%. First Horizon National's payout ratio is 32.14%.

WARNING: This article was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of USA & global trademark & copyright legislation. First Horizon National Corp now has $6.59B valuation. 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. The Company has four segments: regional banking, fixed income, corporate and non-strategic. It also provides investment, financial planning, trust, asset management, and cash management services.


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