Is First Horizon National Corp’s Fuel For Real? The Stock Was Bought By Option Traders

 Is First Horizon National Corp's Fuel For Real? The Stock Was Bought By Option Traders

In today’s session First Horizon National Corp (FHN) registered an unusually high (250) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious FHN increase. With 250 contracts traded and 10804 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: FHN161118C00015000 closed last at: $0.4 or 33.3% down. About 780,312 shares traded hands. First Horizon National Corp (NYSE:FHN) has risen 12.46% since March 15, 2016 and is uptrending. It has outperformed by 6.98% the S&P500.

Analysts await First Horizon National Corp (NYSE:FHN) to report earnings on October, 21. They expect $0.25 earnings per share, down 13.79% or $0.04 from last year’s $0.29 per share. FHN’s profit will be $57.57 million for 14.72 P/E if the $0.25 EPS becomes a reality. After $0.24 actual earnings per share reported by First Horizon National Corp for the previous quarter, Wall Street now forecasts 4.17% EPS growth.

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. First Horizon National Corporation has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, September 26 the stock rating was maintained by Deutsche Bank with “Hold”. The firm earned “Hold” rating on Wednesday, August 12 by Deutsche Bank. The rating was maintained by Barclays Capital on Monday, July 18 with “Equalweight”. The company was upgraded on Tuesday, January 5 by Hovde Group. The stock of First Horizon National Corp (NYSE:FHN) has “Buy” rating given on Monday, October 19 by SunTrust. RBC Capital Markets maintained the shares of FHN in a report on Wednesday, January 20 with “Sector Perform” rating. The company was downgraded on Monday, September 26 by Hovde Group. The stock of First Horizon National Corp (NYSE:FHN) has “Hold” rating given on Tuesday, January 26 by Deutsche Bank. The firm has “Underperform” rating given on Tuesday, August 23 by Wells Fargo. Guggenheim initiated it with “Buy” rating and $18 target price in Thursday, October 8 report.

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.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.59, from 0.83 in 2016Q1. The ratio increased, 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.
Bluecrest Cap accumulated 0.03% or 47,828 shares. Moreover, Blackrock Gp Ltd has 0% invested in First Horizon National Corp (NYSE:FHN) for 310,527 shares. Wesbanco National Bank & Trust has invested 0.03% of its portfolio in First Horizon National Corp (NYSE:FHN). Ameriprise Financial last reported 966,059 shares in the company. North Star Invest Management last reported 0% of its portfolio in the stock. Blackrock Fund Advsrs last reported 8.58M shares in the company. Gemmer Asset Limited Liability Company reported 377 shares or 0% of all its holdings. Huber Ltd Co accumulated 3.66M shares or 2.07% of the stock. Lsv Asset Management last reported 0% of its portfolio in the stock. Nationwide Fund Advsrs accumulated 394,641 shares or 0.02% of the stock. State Street Corporation holds 0.01% or 9.44 million shares in its portfolio. Tiaa Cref Inv Ltd Liability last reported 0% of its portfolio in the stock. Artemis Invest Mngmt Llp, a United Kingdom-based fund reported 298,435 shares. Us Natl Bank De holds 14,340 shares or 0% of its portfolio. World Asset Mgmt has invested 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN).

Insider Transactions: Since May 12, 2016, the stock had 2 insider buys, and 10 insider sales for $14.08 million net activity. Another trade for 456,230 shares valued at $6.96 million was made by Kisber Michael E on Monday, August 29. Daniel John M sold $137,659 worth of stock. Shares for $1.67 million were sold by POPWELL DAVID T on Tuesday, September 6. The insider PALMER VICKI R sold 6,362 shares worth $88,597. 18,200 shares were sold by Losch William C III, worth $249,977 on Thursday, May 12. Another trade for 5,267 shares valued at $136,652 was made by MARTIN R BRAD on Tuesday, June 7. 59,196 shares were sold by Valine Yousef A., worth $890,874.

First Horizon National Corporation is a bank holding company. The company has a market cap of $3.39 billion. The Firm provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). It has a 16.18 P/E ratio. The Firm has four divisions: regional banking, fixed income, corporate and non-strategic.

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.

Another recent and important First Horizon National Corp (NYSE:FHN) news was published by Seekingalpha.com which published an article titled: “First Horizon National Corp.: Attuned To Growth Opportunities” on October 17, 2016.

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