First Horizon National Corp (FHN) is Downgraded by Wells Fargo to Underperform

First Horizon National Corp (FHN) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 23, 2016.

On the company’s financial health, First Horizon National Corp reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $0.23. The company had revenue of $321.80 million for the quarter, compared to analysts expectations of $315.46 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

First Horizon National Corp closed down -0.03 points or -0.20% at $15.1 with 26,48,481 shares getting traded on Friday. Post opening the session at $15.05, the shares hit an intraday low of $15.02 and an intraday high of $15.1201 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Jul 26, 2016, First Horizon National Corp announced a cash dividend of $0.0700. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

In a different news, on Jun 14, 2016, R Brad Martin (director) purchased 533 shares at $26.12 per share price. According to the SEC, on Jun 13, 2016, Vicki R Palmer (director) sold 6,362 shares at $13.93 per share price. On May 16, 2016, William C Iii Losch (EVP and CFO) sold 18,200 shares at $13.73 per share price, according to the Form-4 filing with the securities and exchange commission.

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary First Tennessee Bank National Association (the Bank). FHN operates through four segments: regional banking capital markets corporate and non-strategic. As of December 31 2014 FHN’s subsidiaries had over 200 business locations in the United States and Hong Kong. As of December 31 2014 the Bank had 182 branch locations in seven states: 168 branches in Tennessee; 2 branches in northwestern Georgia; 7 branches in northwestern Mississippi; 2 branches in North Carolina and one branch each in Virginia South Carolina and Florida. At December 31 2014 FTN Financial products and services were offered through 27 offices in total including 26 offices in 16 states across the United States plus an office in Hong Kong.

First Horizon National Corp

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