First Horizon National Corp (NYSE:FHN) EVP Yousef A. Valine sold 28,249 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.12, for a total value of $483,622.88. Following the completion of the transaction, the executive vice president now owns 229,371 shares in the company, valued at approximately $3,926,831.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of FHN stock opened at $17.04 on Friday. The company’s fifty day simple moving average is $16.12 and its two-hundred day simple moving average is $15.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.96 and a quick ratio of 0.94. First Horizon National Corp has a 1 year low of $12.30 and a 1 year high of $17.42. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.86 and a beta of 1.30.
First Horizon National (NYSE:FHN) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. First Horizon National had a net margin of 19.09% and a return on equity of 10.34%. The business had revenue of $472.40 million for the quarter, compared to analysts’ expectations of $466.10 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that First Horizon National Corp will post 1.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.56 dividend on an annualized basis and a yield of 3.29%. First Horizon National’s payout ratio is 39.72%.
Hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc bought a new stake in First Horizon National during the 2nd quarter valued at $30,000. Steward Partners Investment Advisory LLC bought a new stake in First Horizon National during the 2nd quarter valued at $38,000. Signaturefd LLC raised its holdings in First Horizon National by 63.8% during the 2nd quarter. Signaturefd LLC now owns 2,761 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,075 shares during the period. Quest Capital Management Inc. ADV bought a new stake in First Horizon National during the 3rd quarter valued at $42,000. Finally, Parallel Advisors LLC raised its holdings in First Horizon National by 283.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,479 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 2,571 shares during the period. 84.86% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on FHN. Zacks Investment Research upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday, July 19th. Bank of America upgraded First Horizon National from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday. Wells Fargo & Co upped their price objective on First Horizon National from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. UBS Group upgraded First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, August 5th. Finally, Raymond James upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. First Horizon National presently has a consensus rating of “Hold” and an average price target of $18.56.
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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