The stock of First Horizon National Corp (NYSE:FHN) hit a new 52-week high and has $25.58 target or 57.00% above today’s $16.29 share price. The 7 months bullish chart indicates low risk for the $3.78B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $25.58 price target is reached, the company will be worth $2.15B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.06M shares traded hands. First Horizon National Corp (NYSE:FHN) has risen 21.51% since April 7, 2016 and is uptrending. It has outperformed by 16.72% the S&P500.
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. The firm has “Sector Perform” rating given on Monday, October 19 by RBC Capital Markets. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, January 20. The firm has “Equalweight” rating by Barclays Capital given on Monday, July 18. The company was maintained on Wednesday, August 12 by Deutsche Bank. The firm earned “Underperform” rating on Tuesday, August 23 by Wells Fargo. The stock of First Horizon National Corp (NYSE:FHN) earned “Buy” rating by Guggenheim on Thursday, October 8. The rating was maintained by Deutsche Bank on Monday, September 26 with “Hold”. Hovde Group upgraded the shares of FHN in a report on Tuesday, January 5 to “Outperform” rating. Hovde Group downgraded First Horizon National Corp (NYSE:FHN) on Monday, September 26 to “Market Perform” rating. The stock of First Horizon National Corp (NYSE:FHN) earned “Hold” rating by Deutsche Bank on Tuesday, January 26.
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 Q2 2016. Its up 0.59, from 0.83 in 2016Q1. The ratio improved, 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.
Delta Asset Mngmt Ltd Liability Company Tn has 42,011 shares for 0.1% of their US portfolio. Prudential Finance holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 299,630 shares. Marshall Wace Limited Liability Partnership holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 128,931 shares. The Kansas-based Mariner Wealth Advisors Ltd Com has invested 0.02% in First Horizon National Corp (NYSE:FHN). Proshare Advsrs Limited Co last reported 0.01% of its portfolio in the stock. Barclays Pcl has invested 0% of its portfolio in First Horizon National Corp (NYSE:FHN). Balyasny Asset Mngmt Limited Liability has invested 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN). D E Shaw, a New York-based fund reported 1.72M shares. Rmb Mgmt accumulated 442,506 shares or 0% of the stock. Jnba Financial Advsrs has 180 shares for 0% of their US portfolio. Citadel Advsr Ltd has 5.42 million shares for 0.08% of their US portfolio. Geode Cap Mngmt Limited Liability Company has invested 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN). Hgk Asset Management has 0.03% invested in the company for 15,776 shares. Millennium Mngmt Limited Company has 0.13% invested in the company for 4.06M shares. Royal Bank Of Canada holds 1.30 million shares or 0.01% of its portfolio.
Insider Transactions: Since May 12, 2016, the stock had 2 buys, and 7 sales for $13.66 million net activity. 110,422 shares were sold by POPWELL DAVID T, worth $1.67 million. Tuggle Charles T Jr sold $37,876 worth of stock. The insider Kisber Michael E sold $6.96 million. PALMER VICKI R had sold 6,362 shares worth $88,597 on Friday, June 10. Losch William C III sold 84,566 shares worth $1.27 million. Shares for $137,659 were sold by Daniel John M. MARTIN R BRAD bought $13,910 worth of First Horizon National Corp (NYSE:FHN) on Friday, June 10.
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.
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.