The stock of First Horizon National Corp (NYSE:FHN) hit a new 52-week high and has $20.29 target or 4.00% above today’s $19.51 share price. The 6 months bullish chart indicates low risk for the $4.64 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $20.29 price target is reached, the company will be worth $185.60 million 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 1.25M shares traded hands. First Horizon National Corp (NYSE:FHN) has risen 34.65% since April 28, 2016 and is uptrending. It has outperformed by 28.73% the S&P500.
Analysts await First Horizon National Corp (NYSE:FHN) to report earnings on January, 17. They expect $0.25 earnings per share, up 25.00% or $0.05 from last year’s $0.2 per share. FHN’s profit will be $59.46 million for 19.51 P/E if the $0.25 EPS becomes a reality. After $0.27 actual earnings per share 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), 3 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 38% are positive. First Horizon National Corporation has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of First Horizon National Corp (NYSE:FHN) has “Buy” rating given on Monday, November 28 by Jefferies. The firm has “Hold” rating by Deutsche Bank given on Tuesday, January 26. The company was maintained on Monday, September 26 by Deutsche Bank. The stock has “Buy” rating given by SunTrust on Monday, October 19. The rating was initiated by Guggenheim on Thursday, October 8 with “Buy”. Barclays Capital maintained the stock with “Equalweight” rating in Monday, July 18 report. The firm has “Sector Perform” rating given on Monday, October 19 by RBC Capital Markets. The firm has “Sector Perform” rating given on Wednesday, January 20 by RBC Capital Markets. The rating was downgraded by Hovde Group to “Market Perform” on Monday, September 26. The firm earned “Underperform” rating on Tuesday, August 23 by Wells Fargo.
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 turned negative, 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.
Patten & Patten Inc Tn, a Tennessee-based fund reported 13,343 shares. Rs Invest Mgmt Co Limited Liability Company last reported 3.89 million shares in the company. Moreover, Northern Trust Corporation has 0.01% invested in First Horizon National Corp (NYSE:FHN) for 2.43M shares. Moreover, Marshall Wace Llp has 0.01% invested in First Horizon National Corp (NYSE:FHN) for 128,931 shares. Balyasny Asset Mgmt Limited Liability Corp holds 0.01% of its portfolio in First Horizon National Corp (NYSE:FHN) for 73,747 shares. Bnp Paribas Investment Prns holds 0% of its portfolio in First Horizon National Corp (NYSE:FHN) for 23,588 shares. Loews Corporation has 0% invested in the company for 14,073 shares. Gateway Advisers Ltd holds 0.01% or 86,613 shares in its portfolio. Gotham Asset Mngmt Lc holds 0% or 13,280 shares in its portfolio. First Advsrs L P, a Illinois-based fund reported 103,068 shares. Utah Retirement owns 42,047 shares or 0.02% of their US portfolio. New South Cap Management has 20,217 shares for 0.01% of their US portfolio. Qs Invsts Limited Co has 14,830 shares for 0% of their US portfolio. Jpmorgan Chase & has 4.49M shares for 0.02% of their US portfolio. Neuberger Berman Group Incorporated Ltd accumulated 15,261 shares or 0% of the stock.
Insider Transactions: Since June 7, 2016, the stock had 2 buys, and 8 insider sales for $14.34 million net activity. $136,652 worth of First Horizon National Corp (NYSE:FHN) was bought by MARTIN R BRAD. $88,597 worth of shares were sold by PALMER VICKI R on Friday, June 10. Shares for $6.96M were sold by Kisber Michael E on Monday, August 29. $1.27M worth of First Horizon National Corp (NYSE:FHN) shares were sold by Losch William C III. $2.14 million worth of shares were sold by Tuggle Charles T Jr on Friday, August 26. The insider POPWELL DAVID T sold 110,422 shares worth $1.67M. Daniel John M also sold $680,496 worth of First Horizon National Corp (NYSE:FHN) shares.
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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