Rating Worth Watching: Time To Buy First Horizon (NYSE:FHN), Jefferies Upgrades It

November 28, 2016 - By Darrin Black

Rating Worth Watching:  Time To Buy First Horizon (NYSE:FHN), Jefferies Upgrades It

First Horizon (NYSE:FHN) Upgrade

New York-listed First Horizon (NYSE:FHN), was increased by investment analysts at Jefferies. The firm increased its rating on the $4.36 billion market cap company to a Buy from a previous Hold.

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 -15.99% below today’s ($18.7) 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 $15 target price in Monday, October 19 report. Hovde Group upgraded the shares of FHN in a report on Tuesday, January 5 to “Outperform” rating. Guggenheim initiated the stock with “Buy” rating in Thursday, October 8 report. The stock has “Equalweight” rating given by Barclays Capital on Monday, July 18. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, January 20. Deutsche Bank maintained First Horizon National Corp (NYSE:FHN) rating on Wednesday, August 12. Deutsche Bank has “Hold” rating and $15 price target. SunTrust maintained the stock with “Buy” rating in Monday, October 19 report. Deutsche Bank maintained it with “Hold” rating and $15.50 target price in Monday, September 26 report. As per Tuesday, August 23, the company rating was downgraded by Wells Fargo. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, January 26.

About 487,020 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 EPS, up 25.00% or $0.05 from last year’s $0.2 per share. FHN’s profit will be $58.29 million for 18.70 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 is negative, 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.

Legal And General Group Inc Public Limited Com reported 112,114 shares or 0% of all its holdings. Alpenglow Capital Limited Partnership has invested 7.04% of its portfolio in First Horizon National Corp (NYSE:FHN). State Board Of Administration Of Florida Retirement accumulated 0.02% or 446,524 shares. Us Financial Bank De last reported 0% of its portfolio in the stock. Renaissance Techs Ltd Com reported 230,000 shares or 0.01% of all its holdings. Tci Wealth reported 80 shares or 0% of all its holdings. Employees Retirement Association Of Colorado has 0.01% invested in the company for 54,546 shares. Barclays Public Limited Company last reported 55,469 shares in the company. Mutual Of America Capital Mgmt Limited Co, a New York-based fund reported 169,706 shares. Barnett & Co holds 0.02% or 2,500 shares in its portfolio. Advantus Mngmt holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 28,164 shares. Moreover, Millennium Mgmt Limited Liability Co has 0.13% invested in First Horizon National Corp (NYSE:FHN) for 4.06 million shares. Blair William And Communication Il has 15,693 shares for 0% of their US portfolio. Bluecrest Cap Mgmt Limited holds 0.03% or 47,828 shares in its portfolio. Victory Capital Mgmt last reported 0.14% of its portfolio in the stock.

Insider Transactions: Since June 7, 2016, the stock had 2 insider purchases, and 8 sales for $14.34 million net activity. Daniel John M also sold $680,496 worth of First Horizon National Corp (NYSE:FHN) on Wednesday, November 9. Shares for $13,910 were bought by MARTIN R BRAD. Shares for $6.96 million were sold by Kisber Michael E. POPWELL DAVID T also sold $1.67 million worth of First Horizon National Corp (NYSE:FHN) shares. 59,196 shares were sold by Valine Yousef A., worth $890,874 on Friday, August 26. $2.14M worth of First Horizon National Corp (NYSE:FHN) was sold by Tuggle Charles T Jr on Friday, August 26. $1.27M worth of First Horizon National Corp (NYSE:FHN) was sold by Losch William C III.

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 20.56 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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