Raymond James analyst Michael Rose maintains $First Horizon National (FHN.US)$ with a buy rating, and adjusts the target price from $18 to $23.
According to TipRanks data, the analyst has a success rate of 51.0% and a total average return of 6.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $First Horizon National (FHN.US)$'s main analysts recently are as follows:
As the Q4 earnings season for regional banks approaches, expectations are set on minimal growth in loans and deposits, slight declines in net intercessor margins, while credit trends are predicted to maintain stability overall. Further attention will be given to projections for 2025 during the earnings discussions, which are anticipated to factor in the current 'higher for a bit longer' interest rate situation. Optimism remains for regional bank stocks heading into 2025, albeit with caution due to expectations of a 'less aggressive rate cutting' stance from the Federal Reserve.
The recent shifts in the rate environment and economic projections, combined with growing optimism about the new U.S. administration, are likely to shift the focus towards 2025 outlooks in the upcoming quarterly discussions for regional banks. It is anticipated that the banks will report solid results for the fourth quarter, but key topics for the near to medium term include the pathways of deposit betas, net interest margins, and potential growth scenarios. These discussions will mainly reflect minor adjustments in margin assumptions and somewhat moderated expectations for near-term loan growth.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
