Goldman slashes price target on First Horizon National Corporation [FHN] – find out why.

First Horizon National Corporation [NYSE: FHN] closed the trading session at $9.69 on 08/24/20. The day’s price range saw the stock hit a low of $9.255, while the highest price level was $9.74. The company report on July 28, 2020 that First Horizon Declares Cash Dividends on Common and Preferred Stock.

First Horizon National Corp.’s (NYSE:FHN) board of directors has approved payment of a quarterly cash dividend on its common stock of $0.15 per share. The dividend is payable October 1, 2020 to the common shareholders of record on September 11, 2020.

The board also approved payment of cash dividends on First Horizon’s Series A, Series C, Series D and Series E Preferred Stock as described in the following paragraphs.

The stocks have a year to date performance of -41.49 percent and weekly performance of -2.42 percent. The stock has been moved at -35.70 percent over the last six months. The stock has performed 0.52 percent around the most recent 30 days and changed 2.54 percent over the most recent 3-months.

If compared to the average trading volume of 7.26M shares, FHN reached to a volume of 4295667 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about First Horizon National Corporation [FHN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FHN shares is $11.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FHN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for First Horizon National Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 20, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on August 17, 2020, representing the official price target for First Horizon National Corporation stock. Previously, the target price had yet another raise to $11, while Evercore ISI analysts kept a Outperform rating on FHN stock.

The Average True Range (ATR) for First Horizon National Corporation is set at 0.38, with the Price to Sales ratio for FHN stock in the period of the last 12 months amounting to 3.55. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 10.43.

FHN stock trade performance evaluation

First Horizon National Corporation [FHN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.42. With this latest performance, FHN shares gained by 0.52% in over the last four-week period, additionally sinking by -35.70% over the last 6 months – not to mention a drop of -36.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FHN stock in for the last two-week period is set at 50.16, with the RSI for the last a single of trading hit 52.33, and the three-weeks RSI is set at 51.39 for First Horizon National Corporation [FHN]. The present Moving Average for the last 50 days of trading for this stock 9.55, while it was recorded at 9.54 for the last single week of trading, and 11.97 for the last 200 days.

First Horizon National Corporation [FHN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and First Horizon National Corporation [FHN] shares currently have an operating margin of +30.20. First Horizon National Corporation’s Net Margin is presently recorded at +19.37.

Return on Total Capital for FHN is now 8.23, given the latest momentum, and Return on Invested Capital for the company is 8.66. Return on Equity for this stock inclined to 9.51, with Return on Assets sitting at 1.05. When it comes to the capital structure of this company, First Horizon National Corporation [FHN] has a Total Debt to Total Equity ratio set at 98.83. Additionally, FHN Total Debt to Total Capital is recorded at 49.71, with Total Debt to Total Assets ending up at 10.47. Long-Term Debt to Equity for the company is recorded at 11.09, with the Long-Term Debt to Total Capital now at 5.69.

Reflecting on the efficiency of the workforce at the company, First Horizon National Corporation [FHN] managed to generate an average of $87,883 per employee.

Earnings per share (EPS) analysis for First Horizon National Corporation [FHN] stock

With the latest financial reports released by the company, First Horizon National Corporation posted 0.43/share EPS, while the average EPS was predicted by analysts to be reported at 0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FHN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First Horizon National Corporation go to 9.50%.

First Horizon National Corporation [FHN]: Insider Ownership positions

There are presently around $5,016 million, or 57.60% of FHN stock, in the hands of institutional investors. The top three institutional holders of FHN stocks are: VANGUARD GROUP INC with ownership of 54,267,189, which is approximately -2.049% of the company’s market cap and around 1.70% of the total institutional ownership; BLACKROCK INC., holding 51,702,649 shares of the stock with an approximate value of $501.0 million in FHN stocks shares; and FMR LLC, currently with $224.45 million in FHN stock with ownership of nearly -22.475% of the company’s market capitalization.

Positions in First Horizon National Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 255 institutional holders increased their position in First Horizon National Corporation [NYSE:FHN] by around 64,332,476 shares. Additionally, 235 investors decreased positions by around 48,247,632 shares, while 73 investors held positions by with 405,106,324 shares. The mentioned changes placed institutional holdings at 517,686,432 shares, according to the latest SEC report filing. FHN stock had 77 new institutional investments in for a total of 20,091,252 shares, while 79 institutional investors sold positions of 12,768,534 shares during the same period.

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