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Trade-Ideas LLC identified First Horizon National (FHN) as a strong and under the radar candidate
First Horizon National (FHN) stock is slightly lower in early market trade as the company was upgraded to 'outperform' from 'market perform' at Keefe, Bruyette & Woods (KBW).
First Horizon National (NYSE:FHN) has been downgraded by TheStreet Ratings from from a buy to hold.
Upgrades: BID, BIO, CHH, FMS, HPTX, PTRY, QLIK, RDI Downgrades: ARCO, CVU, DTV, EDU, FHN, GTE, IRG, MTSL, PBA Initiations: ECOM Read on to get TheStreet Quant Ratings' detailed report:
In trading on Thursday, shares of First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.55), with shares changing hands as low as $23.77 on the day. This compares to an average yield of 5.68% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Investors in First Horizon National Corp saw new options begin trading this week, for the February 2015 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 241 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
On 6/23/14, First Horizon National Corp's Non-Cumulative Perpetual Preferred Stock, Series A will trade ex-dividend, for its quarterly dividend of $0.3875, payable on 7/10/14. As a percentage of FHN.
Bank stocks are likely see material weakness in the second half of 2014 unless the economy picks up and interest rates begin to rise, analysts contend.
Legal costs are a wild card while lower revenues from trading and mortgage origination are widely expected as JPMorgan Chase prepares to report first quarter earnings ahead of the opening bell on Friday.
First Horizon National was a winner within the banking industry, rising $0.15 (1.2%) to $12.56 on light volume
A Different Nonprofit to Receive $5,000 Each Day for 150 Days as Part of First Tennessee Bank's 150th Anniversary Celebration
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