ValuEngine Downgrades First Horizon National (FHN) to Sell

First Horizon National (NYSE:FHN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other research firms have also weighed in on FHN. SunTrust Banks dropped their price objective on shares of First Horizon National to $20.00 and set a “$17.03” rating on the stock in a research note on Wednesday, July 18th. Stephens reaffirmed a “$17.03” rating and issued a $18.50 price objective on shares of First Horizon National in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of First Horizon National from a “strong sell” rating to a “hold” rating in a research note on Friday, September 14th. UBS Group lowered shares of First Horizon National from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $19.00 in a research note on Wednesday, July 18th. Finally, Raymond James lowered shares of First Horizon National from a “strong-buy” rating to an “outperform” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.89.

NYSE FHN traded down $0.17 on Thursday, hitting $17.23. 5,016,500 shares of the company were exchanged, compared to its average volume of 3,415,146. The firm has a market cap of $5.80 billion, a PE ratio of 15.52, a P/E/G ratio of 1.08 and a beta of 0.85. First Horizon National has a 12 month low of $16.51 and a 12 month high of $20.86. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.28.

First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. First Horizon National had a net margin of 10.74% and a return on equity of 9.64%. The business had revenue of $438.46 million for the quarter, compared to analyst estimates of $447.95 million. equities analysts predict that First Horizon National will post 1.43 earnings per share for the current year.

In other news, Chairman D Bryan Jordan purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average cost of $17.76 per share, with a total value of $444,000.00. Following the completion of the transaction, the chairman now directly owns 611,832 shares of the company’s stock, valued at $10,866,136.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott M. Niswonger purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were purchased at an average cost of $18.20 per share, for a total transaction of $1,820,000.00. Following the completion of the transaction, the director now directly owns 639,403 shares of the company’s stock, valued at $11,637,134.60. The disclosure for this purchase can be found here. Insiders have purchased 130,000 shares of company stock worth $2,352,400 over the last three months. 1.75% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Capital Advantage Inc. bought a new position in shares of First Horizon National during the second quarter valued at about $100,000. Qube Research & Technologies Ltd bought a new position in shares of First Horizon National during the second quarter valued at about $148,000. Point72 Hong Kong Ltd lifted its position in shares of First Horizon National by 29,974.2% during the second quarter. Point72 Hong Kong Ltd now owns 9,323 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 9,292 shares in the last quarter. Signition LP bought a new position in shares of First Horizon National during the second quarter valued at about $180,000. Finally, Hartford Investment Management Co. bought a new position in shares of First Horizon National during the second quarter valued at about $187,000. 85.67% of the stock is currently owned by institutional investors.

First Horizon National Company Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Horizon National (NYSE:FHN)

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