Rating Report: First Horizon National Corporation (NYSE:FHN) Hit With Upgrade by Jefferies, Time to Buy?

November 28, 2016 - By Darrin Black

Rating Report:  First Horizon National Corporation (NYSE:FHN) Hit With Upgrade by Jefferies, Time to Buy?

First Horizon National Corporation (NYSE:FHN) Upgrade

First Horizon National Corporation (NYSE:FHN)‘s rating was raised by stock research analysts at Jefferies from a Hold rating to a Buy rating in a analysts report revealed to clients on Monday morning.

First Horizon National Corp (NYSE:FHN) Ratings Coverage

Out of 8 analysts covering First Horizon National Corporation (NYSE:FHN), 2 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 25% are positive. $18 is the highest target while $13 is the lowest. The $15.71 average target is -16.26% below today’s ($18.76) stock price. First Horizon National Corporation has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Sector Perform” rating and $14 target price in Wednesday, January 20 report. Barclays Capital maintained First Horizon National Corp (NYSE:FHN) on Monday, July 18 with “Equalweight” rating. The company was downgraded on Monday, September 26 by Hovde Group. Guggenheim initiated the shares of FHN in a report on Thursday, October 8 with “Buy” rating. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 12. Deutsche Bank maintained the stock with “Hold” rating in Monday, September 26 report. The rating was maintained by SunTrust with “Buy” on Monday, October 19. On Tuesday, January 5 the stock rating was upgraded by Hovde Group to “Outperform”. As per Tuesday, August 23, the company rating was downgraded by Wells Fargo. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, October 19 report.

About 890,046 shares traded hands. First Horizon National Corp (NYSE:FHN) has risen 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 earnings per share, up 25.00% or $0.05 from last year’s $0.2 per share. FHN’s profit will be $58.37M for 18.76 P/E if the $0.25 EPS becomes a reality. After $0.27 actual earnings per share 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 2016 Q2. Its down 0.17, from 1.42 in 2016Q1. The ratio fall, 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.

Raymond James Services Advsr owns 13,751 shares or 0% of their US portfolio. Teachers Advsrs Inc reported 234,604 shares or 0.01% of all its holdings. Millennium Mngmt Ltd has invested 0.13% of its portfolio in First Horizon National Corp (NYSE:FHN). Carroll Fincl Associates reported 6,894 shares or 0.02% of all its holdings. Pacad Invest holds 0.02% of its portfolio in First Horizon National Corp (NYSE:FHN) for 10,900 shares. First Advsrs Ltd Partnership last reported 0% of its portfolio in the stock. Kanaly Tru Company has 0% invested in the company for 98 shares. Da Davidson & last reported 5,756 shares in the company. Calvert Inv Mgmt has 0.01% invested in the company for 18,779 shares. Jnba Financial has 180 shares for 0% of their US portfolio. Barclays Plc holds 55,469 shares or 0% of its portfolio. Denver Inv Advsr Limited Com holds 1.77M shares or 1.1% of its portfolio. North Star Investment Mgmt Corporation has 1 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in First Horizon National Corp (NYSE:FHN). Texas Permanent School Fund holds 177,811 shares or 0.03% of its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 2 buys, and 8 sales for $14.34 million net activity. MARTIN R BRAD bought $136,652 worth of stock. $2.14M worth of First Horizon National Corp (NYSE:FHN) was sold by Tuggle Charles T Jr. The insider POPWELL DAVID T sold $1.67 million. 59,196 shares with value of $890,874 were sold by Valine Yousef A. on Friday, August 26. $680,496 worth of First Horizon National Corp (NYSE:FHN) shares were sold by Daniel John M. Losch William C III sold $1.27M worth of stock or 84,566 shares. On Friday, June 10 the insider PALMER VICKI R sold $88,597.

First Horizon National Corporation is a bank holding company. The company has a market cap of $4.38 billion. The Firm provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). It has a 20.63 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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