Last Updated: 18 Sep 2024
Executive Summary
First Horizon National Corporation (FHN) is a leading financial services provider in the United States. The company's stock has outperformed the broader market in recent years, and analysts are generally positive on its long-term prospects. However, the company faces some near-term challenges, including rising interest rates and a slowing economy.
Company Overview
First Horizon National Corporation is a bank holding company with approximately $85 billion in assets. The company operates through its primary subsidiary, First Horizon Bank, which provides a range of financial services to individuals, businesses, and municipalities. First Horizon Bank has a strong presence in the Southeastern United States, with over 400 branches in Tennessee, Mississippi, Alabama, Georgia, and Florida.
Fundamental Analysis
First Horizon National Corporation's financial performance has been solid in recent years. The company's revenue has grown at a compound annual growth rate (CAGR) of 5.2% over the past five years, and its earnings per share (EPS) have grown at a CAGR of 10.2% over the same period. The company's profitability metrics are also strong, with a net profit margin of 24.2% and a return on equity (ROE) of 8.17%.
First Horizon National Corporation's balance sheet is also strong. The company has a Tier 1 capital ratio of 11.2%, which is well above the regulatory minimum. The company also has a low level of non-performing loans, at just 0.54%.
Technical Analysis
First Horizon National Corporation's stock price has been trending higher in recent years. The stock is currently trading at $15.78, which is above its 50-day moving average of $15.97 and its 200-day moving average of $14.97. The stock's relative strength index (RSI) is 60.49, which indicates that the stock is overbought.
Short Term Outlook
First Horizon National Corporation's short-term outlook is mixed. The company faces some near-term challenges, including rising interest rates and a slowing economy. However, the company's strong financial performance and positive analyst sentiment suggest that the stock could continue to perform well in the short term.
Long Term Outlook
First Horizon National Corporation's long-term outlook is positive. The company's strong financial performance, positive analyst sentiment, and growing market share suggest that the stock could continue to perform well in the long term.
Analyst Recommendations
Analysts are generally positive on First Horizon National Corporation's long-term prospects. The consensus analyst rating for the stock is "Buy," with a price target of $18.27.
