UBS AG Upgrades First Horizon National Corporation (NYSE:FHN) to Outperform

First Horizon National Corporation (NYSE:FHN) was upgraded by equities researchers at UBS AG from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports.

A number of other brokerages also recently commented on FHN. Stephens reissued a “hold” rating on shares of First Horizon National Corporation in a research note on Thursday, May 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price objective on shares of First Horizon National Corporation in a research note on Monday, June 12th. 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. ValuEngine raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC reduced their price objective on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.57.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 17.69 on Thursday. The company has a 50 day moving average price of $17.52 and a 200 day moving average price of $18.38. The stock has a market cap of $4.14 billion, a P/E ratio of 15.94 and a beta of 1.06. First Horizon National Corporation has a 1-year low of $14.39 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $328.37 million during the quarter, compared to the consensus estimate 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 for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts anticipate that First Horizon National Corporation will post $1.10 EPS for the current 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 stock was 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 $1,020,487.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.09% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of First Horizon National Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 81,291 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 1,100 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of First Horizon National Corporation by 16.1% in the first quarter. Glen Harbor Capital Management LLC now owns 10,164 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,408 shares during the period. Acadian Asset Management LLC bought a new stake in shares of First Horizon National Corporation during the first quarter worth $1,735,000. ProShare Advisors LLC raised its stake in shares of First Horizon National Corporation by 3.8% in the first quarter. ProShare Advisors LLC now owns 63,544 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 2,334 shares during the period. Finally, Profund Advisors LLC raised its stake in shares of First Horizon National Corporation by 2.7% in the first quarter. Profund Advisors LLC now owns 40,631 shares of the financial services provider’s stock worth $752,000 after buying an additional 1,082 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

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

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