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Wells Fargo Reaffirms Their Hold Rating on First Horizon (FHN)

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Wells Fargo analyst Jared Shaw maintained a Hold rating on First Horizon (FHNResearch Report) yesterday and set a price target of $25.00. The company’s shares closed last Tuesday at $23.06, close to its 52-week high of $24.24.

According to TipRanks.com, Shaw is a 4-star analyst with an average return of 7.3% and a 54.4% success rate. Shaw covers the Financial sector, focusing on stocks such as Bank of NT Butterfield & Son, First Interstate Bancsystem, and Pinnacle Financial Partners.

Currently, the analyst consensus on First Horizon is a Hold with an average price target of $23.06, a -0.1% downside from current levels. In a report issued on March 7, Jefferies also downgraded the stock to Hold with a $25.00 price target.

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The company has a one-year high of $24.24 and a one-year low of $14.67. Currently, First Horizon has an average volume of 8.99M.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FHN in relation to earlier this year. Earlier this month, Susan Springfield, the Sr EVP & Chief Credit Officer of FHN sold 80,850 shares for a total of $1,925,604.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

First Horizon National Corp. operates as a financial holding company, which offers checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Fixed Income, Corporate, and Non-strategic. The Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers. The Fixed Income segment provides financial services for depository and non depository institutions through the sale and distribution of fixed income securities, loan sales, portfolio advisory services, and derivative sales. The Corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, gains on the extinguishment of debt, acquisition-related costs, and various charges related to restructuring and repositioning. The Non-strategic segment includes wind down national consumer lending activities, loan portfolios, service lines and other discontinued products. The company was founded by Frank S. Davis in 1864 and is headquartered in Memphis, TN.

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