First Horizon National Corp (FHN) is Downgraded by Hovde Group to Market Perform, Price Target at $16.50

First Horizon National Corp (FHN) was Downgraded by Hovde Group to ” Market Perform” and the brokerage firm has set the Price Target at $16.50. Earlier the firm had a rating of “Outperform ” on the company shares. Hovde Group advised their investors in a research report released on Sep 26, 2016.

Many Wall Street Analysts have commented on First Horizon National Corp. First Horizon National Corp was Downgraded by Wells Fargo to ” Underperform” 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 opened for trading at $15.16 and hit $15.32 on the upside on Thursday, eventually ending the session at $15.3, with a gain of 1.06% or 0.16 points. The heightened volatility saw the trading volume jump to 15,20,678 shares. Company has a market cap of $3,550 M.

In a different news, on Sep 7, 2016, David T Popwell (President-Banking) sold 110,422 shares at $15.11 per share price. According to the SEC, on Aug 31, 2016, Michael E Kisber (President-FTN Financial) sold 456,230 shares at $15.25 per share price. On Aug 30, 2016, Charles T Jr Tuggle (EVP and General Counsel) sold 142,220 shares at $15.02 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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