Hovde Group Downgrades First Horizon National Corp to Market Perform

Brokerage firm Hovde Group Downgrades its rating on First Horizon National Corp(NYSE:FHN). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Hovde Group was issued on Sep 26, 2016.

In a different note, On Aug 23, 2016, Wells Fargo said it Downgrades its rating on First Horizon National Corp. The shares have been rated ‘Underperform’ by the firm. On Jul 18, 2016, Barclays said it Maintains its rating on First Horizon National Corp. In the research note, the firm Raises the price-target to $15.00 per share. The shares have been rated ‘Equalweight’ by the firm.

First Horizon National Corp (FHN) made into the market gainers list on Thursdays trading session with the shares advancing 1.06% or 0.16 points. Due to strong positive momentum, the stock ended at $15.3, which is also near the day’s high of $15.32. The stock began the session at $15.16 and the volume stood at 15,20,678 shares. The 52-week high of the shares is $15.5 and the 52 week low is $11.51. The company has a current market capitalization of $3,550 M and it has 23,20,19,030 shares in outstanding.

First Horizon National Corp(FHN) last announced its earnings results on Jul 15, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $321.78M. Analysts had an estimated revenue of $313.36M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Sep 7, 2016, David T Popwell (President-Banking) sold 110,422 shares at $15.11 per share price.Also, 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.

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