The stock of First Horizon National Corp (NYSE:FHN) hit a new 52-week high and has $19.44 target or 4.00% above today’s $18.69 share price. The 8 months bullish chart indicates low risk for the $4.37B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $19.44 price target is reached, the company will be worth $174.80M 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 645,515 shares traded hands. First Horizon National Corp (NYSE:FHN) has risen 29.05% since April 21, 2016 and is uptrending. It has outperformed by 23.72% 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 $58.45 million for 18.69 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.
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. Deutsche Bank maintained the shares of FHN in a report on Wednesday, August 12 with “Hold” rating. The firm has “Buy” rating by Guggenheim given on Thursday, October 8. RBC Capital Markets maintained First Horizon National Corp (NYSE:FHN) rating on Monday, October 19. RBC Capital Markets has “Sector Perform” rating and $15 price target. The stock of First Horizon National Corp (NYSE:FHN) has “Equalweight” rating given on Monday, July 18 by Barclays Capital. The stock of First Horizon National Corp (NYSE:FHN) earned “Buy” rating by SunTrust on Monday, October 19. On Monday, September 26 the stock rating was maintained by Deutsche Bank with “Hold”. The company was downgraded on Monday, September 26 by Hovde Group. The stock of First Horizon National Corp (NYSE:FHN) earned “Outperform” rating by Hovde Group on Tuesday, January 5. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, January 20. Wells Fargo downgraded the stock to “Underperform” rating in Tuesday, August 23 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 decreased to 1.25 in Q2 2016. Its down 0.17, from 1.42 in 2016Q1. The ratio dived, 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.
Raymond James Associates holds 0% of its portfolio in First Horizon National Corp (NYSE:FHN) for 24,879 shares. Moreover, Engineers Gate Manager Limited Partnership has 0.3% invested in First Horizon National Corp (NYSE:FHN) for 303,282 shares. Raymond James Fincl Advsr Inc last reported 0% of its portfolio in the stock. M&T Bank Corp holds 0% or 15,467 shares in its portfolio. Gemmer Asset Management Limited Liability has 377 shares for 0% of their US portfolio. Northern Corp holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 2.43 million shares. Goldman Sachs Grp holds 0.01% or 2.00M shares in its portfolio. Voya Investment Mgmt Limited Com holds 0% of its portfolio in First Horizon National Corp (NYSE:FHN) for 75,663 shares. Security National holds 0% of its portfolio in First Horizon National Corp (NYSE:FHN) for 9 shares. Bluecrest Management Limited accumulated 47,828 shares or 0.03% of the stock. Thrivent Fincl For Lutherans holds 0% or 32,580 shares in its portfolio. Amalgamated Bank holds 0.03% or 31,390 shares in its portfolio. New York State Teachers Retirement reported 498,300 shares or 0.02% of all its holdings. Profund Advsrs Limited Liability Co has invested 0.02% of its portfolio in First Horizon National Corp (NYSE:FHN). Hsbc Public Limited Co holds 0% or 17,910 shares in its portfolio.
Insider Transactions: Since June 7, 2016, the stock had 2 insider buys, and 8 sales for $14.34 million net activity. PALMER VICKI R sold $88,597 worth of stock. On Friday, August 26 Losch William C III sold $1.27M worth of the stock or 84,566 shares. 5,267 shares were bought by MARTIN R BRAD, worth $136,652 on Tuesday, June 7. $1.67 million worth of First Horizon National Corp (NYSE:FHN) shares were sold by POPWELL DAVID T. Valine Yousef A. sold $890,874 worth of First Horizon National Corp (NYSE:FHN) on Friday, August 26. The insider Daniel John M sold 53,048 shares worth $791,957. The insider Tuggle Charles T Jr sold $2.14M.
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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