Newest Rating: Is First Horizon (FHN) a Stock to Buy After Jefferies Upgrade?

November 28, 2016 - By Dolores Ford

Newest Rating:  Is First Horizon (FHN) a Stock to Buy After Jefferies Upgrade?

First Horizon (FHN) Upgrade

First Horizon (FHN)‘s stock was upgraded to Buy by expert analysts at Jefferies. FHN’s Hold rating is no longer valid.

First Horizon National Corp (NYSE:FHN) Ratings Coverage

Out of 2 analysts covering First Horizon (FHN), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. First Horizon has been the topic of 2 analyst reports since August 23, 2016 according to StockzIntelligence Inc. Hovde Group downgraded First Horizon National Corp (NYSE:FHN) rating on Monday, September 26. Hovde Group has “Market Perform” rating and $16.5 price target. On Tuesday, August 23 the stock rating was downgraded by Wells Fargo to “Underperform”.

It is down 30.20% since April 25, 2016 and is uptrending. It has outperformed by 24.19% the S&P500.

Analysts await First Horizon National Corp (NYSE:FHN) to report earnings on January, 17. They expect $0.25 EPS, up 25.00% or $0.05 from last year’s $0.2 per share. FHN’s profit will be $58.26 million for 18.71 P/E if the $0.25 EPS becomes a reality. After $0.27 actual EPS reported by First Horizon National Corp for the previous quarter, Wall Street now forecasts -7.41% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.25 in Q2 2016. Its down 0.17, from 1.42 in 2016Q1. The ratio dropped, as 18 funds sold all First Horizon National Corp shares owned while 63 reduced positions. 25 funds bought stakes while 90 increased positions. They now own 180.85 million shares or 1.18% less from 183.00 million shares in 2016Q1.

Delta Asset Management Ltd Tn has invested 0.1% of its portfolio in First Horizon National Corp (NYSE:FHN). Pnc Finance Service Gp last reported 0% of its portfolio in the stock. Alpenglow Capital Limited Partnership has invested 7.04% of its portfolio in First Horizon National Corp (NYSE:FHN). Nordea Inv Management last reported 182,824 shares in the company. The Illinois-based North Star Inv has invested 0% in First Horizon National Corp (NYSE:FHN). California Public Employees Retirement System accumulated 0.02% or 703,839 shares. The Illinois-based Northern Corporation has invested 0.01% in First Horizon National Corp (NYSE:FHN). Us Bank & Trust De reported 14,340 shares or 0% of all its holdings. Asset Management accumulated 0.01% or 11,515 shares. Oregon Public Employees Retirement Fund, a Oregon-based fund reported 80,739 shares. Prudential Financial has invested 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN). Bnp Paribas Investment Prns has 23,588 shares for 0% of their US portfolio. Hsbc Hldg Public Limited Liability Co accumulated 0% or 17,910 shares. The New York-based Mutual Of America Mgmt Ltd Liability Com has invested 0.05% in First Horizon National Corp (NYSE:FHN). Teacher Retirement Sys Of Texas last reported 33,358 shares in the company.

Insider Transactions: Since June 7, 2016, the stock had 2 insider purchases, and 8 insider sales for $14.34 million net activity. On Tuesday, June 7 MARTIN R BRAD bought $136,652 worth of the stock or 5,267 shares. $680,496 worth of First Horizon National Corp (NYSE:FHN) was sold by Daniel John M on Wednesday, November 9. Kisber Michael E had sold 456,230 shares worth $6.96M. On Tuesday, September 6 the insider POPWELL DAVID T sold $1.67 million. Tuggle Charles T Jr also sold $2.14 million worth of First Horizon National Corp (NYSE:FHN) shares. Valine Yousef A. also sold $890,874 worth of First Horizon National Corp (NYSE:FHN) on Friday, August 26. The insider Losch William C III sold $1.27M.

First Horizon National Corporation is a bank holding company. The company has a market cap of $4.36 billion. The Firm provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). It has a 20.57 P/E ratio. The Firm has four divisions: regional banking, fixed income, corporate and non-strategic.

According to Zacks Investment Research, “The First Horizon National family of companies provides financial services to individual and business customers through: First Horizon Home Loans, FTN Financial, First Tennessee Bank, and First Horizon Merchant Services.”

FHN Company Profile

First Horizon National Corporation (FHN), incorporated on September 23, 1968, is a bank holding company. The Firm provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Firm operates through four divisions: regional banking, fixed income, corporate and non-strategic. The Company’s subsidiaries have over 200 business locations in the United States. The Bank has various branch locations in approximately eight states, which include over 160 branches in Tennessee; approximately two branches in northwestern Georgia; approximately six branches in northwestern Mississippi; approximately seven branches in North Carolina, and a branch each in Virginia, South Carolina, Florida and Texas.

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