Today’s Rating: Time To Buy First Horizon National Corporation (NYSE:FHN), Jefferies & Co Upgrades It

November 28, 2016 - By Peter Kolinski

Today's Rating:  Time To Buy First Horizon National Corporation (NYSE:FHN), Jefferies & Co Upgrades It

First Horizon National Corporation (NYSE:FHN) Upgrade

New York-listed First Horizon National Corporation (NYSE:FHN), was increased by research analysts at Jefferies & Co. The firm increased its rating on the $4.35B 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 -15.85% below today’s ($18.67) stock price. First Horizon National Corporation has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Monday, October 19, the company rating was maintained by SunTrust. The firm has “Hold” rating by Deutsche Bank given on Tuesday, January 26. The firm earned “Underperform” rating on Tuesday, August 23 by Wells Fargo. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 12. The rating was maintained by Deutsche Bank on Monday, September 26 with “Hold”. The company was maintained on Monday, July 18 by Barclays Capital. The stock of First Horizon National Corp (NYSE:FHN) earned “Market Perform” rating by Hovde Group on Monday, September 26. The stock of First Horizon National Corp (NYSE:FHN) has “Sector Perform” rating given on Wednesday, January 20 by RBC Capital Markets. The firm has “Buy” rating by Guggenheim given on Thursday, October 8. RBC Capital Markets maintained First Horizon National Corp (NYSE:FHN) on Monday, October 19 with “Sector Perform” rating.

About 1.13 million 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 $58.25 million for 18.67 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 2016 Q2. Its down 0.17, from 1.42 in 2016Q1. The ratio worsened, 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.

Renaissance Tech Ltd Llc holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 230,000 shares. Wells Fargo & Mn last reported 2.60M shares in the company. Bnp Paribas Ptnrs Sa last reported 23,588 shares in the company. New York State Common Retirement Fund has 0.01% invested in the company for 543,200 shares. Broadview Lc holds 1.05% of its portfolio in First Horizon National Corp (NYSE:FHN) for 510,925 shares. Gemmer Asset Mgmt Ltd last reported 0% of its portfolio in the stock. Balyasny Asset Mgmt Llc holds 73,747 shares or 0.01% of its portfolio. Barnett Comm holds 0.02% of its portfolio in First Horizon National Corp (NYSE:FHN) for 2,500 shares. Catalyst Capital Advisors Ltd Limited Liability Company has invested 0.08% of its portfolio in First Horizon National Corp (NYSE:FHN). Stifel Financial holds 0.02% of its portfolio in First Horizon National Corp (NYSE:FHN) for 264,262 shares. The New York-based Mendon Advsr Corp has invested 0.36% in First Horizon National Corp (NYSE:FHN). Vanguard Group Inc holds 0.01% or 17.26M shares in its portfolio. Waters Parkerson And Limited Liability Corp accumulated 11,022 shares or 0.02% of the stock. Moreover, Victory Capital Management has 0.14% invested in First Horizon National Corp (NYSE:FHN) for 2.56M shares. Bokf Na holds 0.01% or 20,278 shares in its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 2 insider purchases, and 8 insider sales for $14.34 million net activity. POPWELL DAVID T had sold 110,422 shares worth $1.67 million. PALMER VICKI R had sold 6,362 shares worth $88,597 on Friday, June 10. $13,910 worth of First Horizon National Corp (NYSE:FHN) shares were bought by MARTIN R BRAD. The insider Daniel John M sold $680,496. Valine Yousef A. had sold 59,196 shares worth $890,874. 456,230 First Horizon National Corp (NYSE:FHN) shares with value of $6.96 million were sold by Kisber Michael E. Losch William C III sold $1.27M worth of stock or 84,566 shares.

First Horizon National Corporation is a bank holding company. The company has a market cap of $4.35 billion. The Firm provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). It has a 20.53 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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