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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.42
FHN's Cash to Debt is ranked lower than
72% of the 970 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.49 vs. FHN: 0.42 )
Ranked among companies with meaningful Cash to Debt only.
FHN' s 10-Year Cash to Debt Range
Min: 0.07  Med: 0.38 Max: 3.07
Current: 0.42
0.07
3.07
Equity to Asset 0.09
FHN's Equity to Asset is ranked lower than
58% of the 1323 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. FHN: 0.09 )
Ranked among companies with meaningful Equity to Asset only.
FHN' s 10-Year Equity to Asset Range
Min: 0.06  Med: 0.07 Max: 0.12
Current: 0.09
0.06
0.12
Interest Coverage 3.80
FHN's Interest Coverage is ranked higher than
74% of the 1239 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.65 vs. FHN: 3.80 )
Ranked among companies with meaningful Interest Coverage only.
FHN' s 10-Year Interest Coverage Range
Min: 0.09  Med: 0.66 Max: 3.8
Current: 3.8
0.09
3.8
F-Score: 6
WACC vs ROIC
9.66%
3.28%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 12.61
FHN's Operating margin (%) is ranked lower than
83% of the 1388 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 29.90 vs. FHN: 12.61 )
Ranked among companies with meaningful Operating margin (%) only.
FHN' s 10-Year Operating margin (%) Range
Min: -20.7  Med: 22.71 Max: 30.04
Current: 12.61
-20.7
30.04
Net-margin (%) 8.40
FHN's Net-margin (%) is ranked lower than
86% of the 1388 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.60 vs. FHN: 8.40 )
Ranked among companies with meaningful Net-margin (%) only.
FHN' s 10-Year Net-margin (%) Range
Min: -13.28  Med: 16.28 Max: 21.39
Current: 8.4
-13.28
21.39
ROE (%) 4.03
FHN's ROE (%) is ranked lower than
79% of the 1390 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.16 vs. FHN: 4.03 )
Ranked among companies with meaningful ROE (%) only.
FHN' s 10-Year ROE (%) Range
Min: -10.48  Med: 19.25 Max: 26.11
Current: 4.03
-10.48
26.11
ROA (%) 0.40
FHN's ROA (%) is ranked lower than
76% of the 1399 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.84 vs. FHN: 0.40 )
Ranked among companies with meaningful ROA (%) only.
FHN' s 10-Year ROA (%) Range
Min: -0.95  Med: 1.26 Max: 1.96
Current: 0.4
-0.95
1.96
ROC (Joel Greenblatt) (%) 34.64
FHN's ROC (Joel Greenblatt) (%) is ranked lower than
72% of the 1381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 76.24 vs. FHN: 34.64 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
FHN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -32.57  Med: 57.00 Max: 303.99
Current: 34.64
-32.57
303.99
Revenue Growth (3Y)(%) -4.20
FHN's Revenue Growth (3Y)(%) is ranked lower than
76% of the 1174 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.00 vs. FHN: -4.20 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
FHN' s 10-Year Revenue Growth (3Y)(%) Range
Min: -20.7  Med: -4.20 Max: 22.2
Current: -4.2
-20.7
22.2
EBITDA Growth (3Y)(%) 19.40
FHN's EBITDA Growth (3Y)(%) is ranked higher than
77% of the 1035 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.40 vs. FHN: 19.40 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
FHN' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -25.3  Med: 14.60 Max: 28
Current: 19.4
-25.3
28
EPS Growth (3Y)(%) 24.20
FHN's EPS Growth (3Y)(%) is ranked higher than
77% of the 1042 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.40 vs. FHN: 24.20 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
FHN' s 10-Year EPS Growth (3Y)(%) Range
Min: -56.6  Med: 11.30 Max: 27.1
Current: 24.2
-56.6
27.1
» FHN's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2014

FHN Guru Trades in Q2 2014

HOTCHKIS & WILEY 14,648,355 sh (+9.91%)
Diamond Hill Capital 1,724,220 sh (+9.20%)
Jim Simons Sold Out
David Dreman 778,515 sh (-2.03%)
RS Investment Management 11,921,814 sh (-5.53%)
Arnold Schneider 2,156,275 sh (-15.92%)
» More
Q3 2014

FHN Guru Trades in Q3 2014

John Burbank 12,902 sh (New)
Diamond Hill Capital 1,851,030 sh (+7.35%)
David Dreman 788,860 sh (+1.33%)
HOTCHKIS & WILEY 14,076,753 sh (-3.90%)
Arnold Schneider 2,042,280 sh (-5.29%)
RS Investment Management 10,696,789 sh (-10.28%)
» More
Q4 2014

FHN Guru Trades in Q4 2014

Joel Greenblatt 20,128 sh (New)
Jim Simons 382,581 sh (New)
Diamond Hill Capital 2,670,101 sh (+44.25%)
David Dreman 831,842 sh (+5.45%)
HOTCHKIS & WILEY 10,767,418 sh (unchged)
RS Investment Management 10,646,591 sh (unchged)
John Burbank Sold Out
RS Investment Management 10,646,591 sh (-0.47%)
Arnold Schneider 1,564,866 sh (-23.38%)
HOTCHKIS & WILEY 10,767,418 sh (-23.51%)
» More
Q1 2015

FHN Guru Trades in Q1 2015

Pioneer Investments 1,515,925 sh (New)
Paul Tudor Jones 14,600 sh (New)
Joel Greenblatt 24,201 sh (+20.24%)
Diamond Hill Capital 2,901,245 sh (+8.66%)
Jim Simons Sold Out
David Dreman 732,463 sh (-11.95%)
RS Investment Management 7,605,529 sh (-28.56%)
HOTCHKIS & WILEY 4,863,405 sh (-54.83%)
Arnold Schneider 75,155 sh (-95.20%)
» More
» Details

Insider Trades

Latest Guru Trades with FHN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Preferred stocks of First Horizon National Corp

SymbolPriceYieldDescription
FHNPRA24.736.27

Guru Investment Theses on First Horizon National Corp

Diamond Hill Capital Comments on First Horizon National Corp - Jun 26, 2014

First Horizon National Corp. (FHN) is a Tennessee-based bank whose stock underperformed peers in 2013 due to lingering litigation concerns and continued sluggish performance within its fixed income trading business. The bank has the highest market share in Tennessee, and as one of the more asset-sensitive banks, we believe earnings should increase more quickly in a rising interest rate environment.



From Diamond Hill Capital's Small Cap Fund Commentary – First Quarter 2014.



Check out Diamond Hill Capital latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 42.11
FHN's P/E(ttm) is ranked lower than
93% of the 1251 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. FHN: 42.11 )
Ranked among companies with meaningful P/E(ttm) only.
FHN' s 10-Year P/E(ttm) Range
Min: 9.03  Med: 16.75 Max: 440.77
Current: 42.11
9.03
440.77
Forward P/E 15.95
FHN's Forward P/E is ranked lower than
82% of the 710 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.17 vs. FHN: 15.95 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 41.80
FHN's PE(NRI) is ranked lower than
93% of the 1248 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. FHN: 41.80 )
Ranked among companies with meaningful PE(NRI) only.
FHN' s 10-Year PE(NRI) Range
Min: 11.25  Med: 18.21 Max: 286.5
Current: 41.8
11.25
286.5
P/B 1.76
FHN's P/B is ranked lower than
84% of the 1349 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. FHN: 1.76 )
Ranked among companies with meaningful P/B only.
FHN' s 10-Year P/B Range
Min: 0.49  Med: 1.27 Max: 2.81
Current: 1.76
0.49
2.81
P/S 3.20
FHN's P/S is ranked lower than
55% of the 1371 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.99 vs. FHN: 3.20 )
Ranked among companies with meaningful P/S only.
FHN' s 10-Year P/S Range
Min: 0.44  Med: 1.87 Max: 3.22
Current: 3.2
0.44
3.22
PFCF 20.66
FHN's PFCF is ranked lower than
77% of the 803 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.27 vs. FHN: 20.66 )
Ranked among companies with meaningful PFCF only.
FHN' s 10-Year PFCF Range
Min: 1.39  Med: 4.61 Max: 191.8
Current: 20.66
1.39
191.8
POCF 17.27
FHN's POCF is ranked lower than
77% of the 916 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.79 vs. FHN: 17.27 )
Ranked among companies with meaningful POCF only.
FHN' s 10-Year POCF Range
Min: 0.37  Med: 3.96 Max: 224
Current: 17.27
0.37
224
EV-to-EBIT 34.77
FHN's EV-to-EBIT is ranked lower than
87% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.99 vs. FHN: 34.77 )
Ranked among companies with meaningful EV-to-EBIT only.
FHN' s 10-Year EV-to-EBIT Range
Min: -125.3  Med: 14.00 Max: 503.5
Current: 34.77
-125.3
503.5
Days Sales Outstanding 59.67
FHN's Days Sales Outstanding is ranked lower than
67% of the 769 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 33.98 vs. FHN: 59.67 )
Ranked among companies with meaningful Days Sales Outstanding only.
FHN' s 10-Year Days Sales Outstanding Range
Min: 13.17  Med: 197.47 Max: 362.25
Current: 59.67
13.17
362.25

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.39
FHN's Dividend Yield is ranked lower than
78% of the 2204 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.60 vs. FHN: 1.39 )
Ranked among companies with meaningful Dividend Yield only.
FHN' s 10-Year Dividend Yield Range
Min: 0.09  Med: 1.79 Max: 18.52
Current: 1.39
0.09
18.52
Dividend Payout 0.54
FHN's Dividend Payout is ranked lower than
60% of the 1287 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9999.00 vs. FHN: 0.54 )
Ranked among companies with meaningful Dividend Payout only.
FHN' s 10-Year Dividend Payout Range
Min: 0.06  Med: 0.36 Max: 2.94
Current: 0.54
0.06
2.94
Dividend growth (3y) 71.00
FHN's Dividend growth (3y) is ranked higher than
96% of the 657 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.50 vs. FHN: 71.00 )
Ranked among companies with meaningful Dividend growth (3y) only.
FHN' s 10-Year Dividend growth (3y) Range
Min: 0  Med: 10.00 Max: 71
Current: 71
0
71
Yield on cost (5-Year) 1.40
FHN's Yield on cost (5-Year) is ranked lower than
79% of the 2195 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.03 vs. FHN: 1.40 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
FHN' s 10-Year Yield on cost (5-Year) Range
Min: 0.09  Med: 1.79 Max: 18.52
Current: 1.4
0.09
18.52
Share Buyback Rate 3.40
FHN's Share Buyback Rate is ranked higher than
94% of the 997 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.90 vs. FHN: 3.40 )
Ranked among companies with meaningful Share Buyback Rate only.
FHN' s 10-Year Share Buyback Rate Range
Min: 3.4  Med: -0.30 Max: -16
Current: 3.4

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.92
FHN's Price/Tangible Book is ranked lower than
81% of the 1328 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.18 vs. FHN: 1.92 )
Ranked among companies with meaningful Price/Tangible Book only.
FHN' s 10-Year Price/Tangible Book Range
Min: 0.61  Med: 3.02 Max: 30.69
Current: 1.92
0.61
30.69
Price/Projected FCF 0.59
FHN's Price/Projected FCF is ranked higher than
62% of the 775 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.67 vs. FHN: 0.59 )
Ranked among companies with meaningful Price/Projected FCF only.
FHN' s 10-Year Price/Projected FCF Range
Min: 0.23  Med: 0.50 Max: 20.21
Current: 0.59
0.23
20.21
Price/Median PS Value 1.71
FHN's Price/Median PS Value is ranked lower than
91% of the 1280 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.09 vs. FHN: 1.71 )
Ranked among companies with meaningful Price/Median PS Value only.
FHN' s 10-Year Price/Median PS Value Range
Min: 0.27  Med: 1.21 Max: 2.07
Current: 1.71
0.27
2.07
Price/Graham Number 1.68
FHN's Price/Graham Number is ranked lower than
92% of the 1155 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.86 vs. FHN: 1.68 )
Ranked among companies with meaningful Price/Graham Number only.
FHN' s 10-Year Price/Graham Number Range
Min: 0.67  Med: 1.59 Max: 5.3
Current: 1.68
0.67
5.3
Earnings Yield (Greenblatt) (%) 2.90
FHN's Earnings Yield (Greenblatt) (%) is ranked lower than
78% of the 1372 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.70 vs. FHN: 2.90 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
FHN' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 0.2  Med: 3.60 Max: 9.5
Current: 2.9
0.2
9.5
Forward Rate of Return (Yacktman) (%) 7.41
FHN's Forward Rate of Return (Yacktman) (%) is ranked lower than
64% of the 765 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.43 vs. FHN: 7.41 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
FHN' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -4.8  Med: 40.65 Max: 100.9
Current: 7.41
-4.8
100.9

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Traded in other countries:FT2.Germany,
First Horizon National Corp is a Tennessee corporation incorporated in 1968. It is a bank holding company. The Company provides financial services through its principal subsidiary, First Tennessee Bank National Association "Bank" and its subsidiaries. The Company has four business segments; regional banking, capital markets, corporate, and non-strategic. The regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and surrounding markets. Regional banking provides investments, financial planning, trust services and asset management, credit card, cash management, and first lien mortgage originations within the Tennessee footprint. Additionally, the regional banking segment includes correspondent banking which provides credit, depository, and other banking related services to other financial institutions; The capital markets segment consists of fixed income sales, trading, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory, and derivative sales. The corporate segment consists of gains on the extinguishment of debt, unallocated corporate expenses, expense on subordinated debt issuances and preferred stock, 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, low income housing investment activities, and various charges related to restructuring, repositioning, and efficiency; The nonstrategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements including servicing fees, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses along with the associated restructuring, repositioning, and efficiency charges. The Corporation and its subsidiaries face competition in all aspects of the businesses in which they engage from national and state banks located in its Tennessee markets and out-of-state and non-U.S. banks as well as from savings and loan associations, credit unions, other financial institutions, consumer finance companies, trust companies, investment counseling firms, money market and other mutual funds, insurance companies and agencies, securities firms, mortgage banking companies and others. The Corporation is subject to the regulation and supervision of and examination by the Federal Reserve under the BHCA.
» More Articles for FHN

Headlines

Articles On GuruFocus.com
Diamond Hill Capital Comments on First Horizon National Corp Jun 26 2014 
50 Stocks with Fastest Dividend Growth in January 2013 Jan 30 2013 
4 Heavily Traded Stocks To Buy Now, 1 To Avoid Mar 03 2012 
Arnold Schneider Bought Selected Financials and Energy Stocks Last Quarter Dec 28 2011 
Weekly CEO Buys Highlight: PTP, CTFO, TWMC, FHN, WINA Oct 22 2011 
insiders paulson Oct 17 2011 
Big Time Investors Who Made Big Time Mistakes Example #2 - Tom Brown Prominent Bank Stock Analyst of Sep 03 2010 
First Horizon National Corp. Reports Operating Results (10-Q) Nov 05 2009 
Is John Paulson Seriously Bullish About Bank of America, Capital One Financial, Fifth Third Bancorp, Aug 14 2009 
Tom Brown: Is it a Bottom in Financial Stocks? Jul 24 2008 

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