Wells Fargo & Co Boosts First Horizon National (NYSE:FHN) Price Target to $19.00

First Horizon National (NYSE:FHN) had its price objective hoisted by investment analysts at Wells Fargo & Co from $17.00 to $19.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 18.31% from the company’s current price.

A number of other equities research analysts have also commented on the company. Piper Jaffray Companies started coverage on First Horizon National in a research report on Wednesday, July 3rd. They set a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research raised First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, July 19th. Bank of America raised First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Tuesday, July 16th. Raymond James raised First Horizon National from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Thursday, August 29th. Finally, UBS Group raised First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. First Horizon National has a consensus rating of “Hold” and an average price target of $18.19.

NYSE:FHN traded up $0.22 during mid-day trading on Wednesday, hitting $16.06. The company had a trading volume of 2,722,740 shares, compared to its average volume of 3,210,565. First Horizon National has a fifty-two week low of $12.30 and a fifty-two week high of $17.49. The business’s fifty day moving average is $15.95 and its two-hundred day moving average is $15.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market cap of $4.98 billion, a P/E ratio of 11.39, a P/E/G ratio of 2.02 and a beta of 1.31.

First Horizon National (NYSE:FHN) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The company had revenue of $461.60 million for the quarter, compared to analyst estimates of $441.32 million. First Horizon National had a return on equity of 10.14% and a net margin of 24.57%. First Horizon National’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. Equities analysts forecast that First Horizon National will post 1.59 earnings per share for the current year.

In related news, EVP Yousef A. Valine sold 38,817 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $16.03, for a total transaction of $622,236.51. Following the completion of the transaction, the executive vice president now directly owns 239,939 shares in the company, valued at $3,846,222.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael E. Kisber sold 110,511 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $16.01, for a total value of $1,769,281.11. Following the transaction, the insider now owns 422,227 shares of the company’s stock, valued at $6,759,854.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,616 shares of company stock valued at $4,409,979. 1.88% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in shares of First Horizon National by 63.8% during the second quarter. Signaturefd LLC now owns 2,761 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,075 shares in the last quarter. Advisory Services Network LLC grew its stake in First Horizon National by 9.4% in the second quarter. Advisory Services Network LLC now owns 14,761 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 1,272 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Horizon National by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,159 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 1,549 shares in the last quarter. LPL Financial LLC grew its stake in First Horizon National by 5.7% in the second quarter. LPL Financial LLC now owns 32,948 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Loews Corp grew its stake in First Horizon National by 10.5% in the first quarter. Loews Corp now owns 18,973 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.

About First Horizon National

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

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Analyst Recommendations for First Horizon National (NYSE:FHN)

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