UBS Initiates Coverage on First Horizon National (FHN)

UBS initiated coverage on shares of First Horizon National (NYSE:FHN) in a research note published on Thursday morning, www.benzinga.com reports. The brokerage issued a buy rating and a $25.00 price objective on the financial services provider’s stock.

FHN has been the topic of a number of other research reports. Vining Sparks raised shares of First Horizon National to a buy rating and set a $25.00 price target on the stock in a research note on Monday, January 8th. Barclays reissued an equal weight rating and issued a $21.00 price target on shares of First Horizon National in a research note on Monday, December 4th. Morgan Stanley lifted their price target on shares of First Horizon National from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Wednesday, December 13th. Royal Bank of Canada reissued a hold rating and issued a $22.00 price target on shares of First Horizon National in a research note on Tuesday, December 5th. Finally, Hovde Group set a $22.00 price target on shares of First Horizon National and gave the company a hold rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $22.40.

How to Become a New Pot Stock Millionaire

Shares of First Horizon National stock opened at $18.38 on Thursday. The company has a market cap of $6,007.19, a P/E ratio of 26.64, a PEG ratio of 1.86 and a beta of 0.99. First Horizon National has a one year low of $15.84 and a one year high of $20.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92.

First Horizon National (NYSE:FHN) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $375.30 million for the quarter, compared to analysts’ expectations of $368.93 million. First Horizon National had a net margin of 11.18% and a return on equity of 8.80%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. research analysts forecast that First Horizon National will post 1.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.12 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.61%. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s dividend payout ratio (DPR) is presently 69.57%.

First Horizon National declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In other First Horizon National news, Director Peter N. Foss sold 30,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $20.32, for a total value of $609,600.00. Following the transaction, the director now owns 56,220 shares in the company, valued at approximately $1,142,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael E. Kisber sold 44,707 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $20.21, for a total value of $903,528.47. The disclosure for this sale can be found here. Insiders sold a total of 257,096 shares of company stock worth $5,156,207 in the last 90 days. 1.75% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in FHN. Exane Derivatives purchased a new position in First Horizon National in the 4th quarter valued at $101,000. First Interstate Bank purchased a new position in First Horizon National in the 4th quarter valued at $103,000. Cerebellum GP LLC purchased a new position in First Horizon National in the 4th quarter valued at $124,000. Salem Investment Counselors Inc. purchased a new position in First Horizon National in the 4th quarter valued at $165,000. Finally, Bartlett & Co. LLC purchased a new position in First Horizon National in the 4th quarter valued at $179,000. Institutional investors own 82.92% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3301286/ubs-initiates-coverage-on-first-horizon-national-fhn.html.

About First Horizon National

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 (NYSE:FHN)

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Dogecoin  Price Reaches $0.0051
Dogecoin Price Reaches $0.0051
NuBits  Trading 5% Lower  Over Last 7 Days
NuBits Trading 5% Lower Over Last 7 Days
Stratis Market Capitalization Achieves $569.21 Million
Stratis Market Capitalization Achieves $569.21 Million
Foundation Medicine  Receives Consensus Recommendation of “Hold” from Analysts
Foundation Medicine Receives Consensus Recommendation of “Hold” from Analysts
US Foods Holding Corp.  Expected to Post Earnings of $0.31 Per Share
US Foods Holding Corp. Expected to Post Earnings of $0.31 Per Share
Alexion Pharmaceuticals  Given Average Rating of “Buy” by Analysts
Alexion Pharmaceuticals Given Average Rating of “Buy” by Analysts


© 2006-2018 Ticker Report. Google+.