FTB Advisors Inc. Sells 5,905 Shares of First Horizon National Corp (FHN)

FTB Advisors Inc. cut its holdings in shares of First Horizon National Corp (NYSE:FHN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,183 shares of the financial services provider’s stock after selling 5,905 shares during the period. FTB Advisors Inc.’s holdings in First Horizon National were worth $5,775,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. LPL Financial LLC acquired a new position in shares of First Horizon National in the 1st quarter worth approximately $543,000. Principal Financial Group Inc. lifted its position in shares of First Horizon National by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,411,131 shares of the financial services provider’s stock worth $26,573,000 after purchasing an additional 32,016 shares during the period. State of Alaska Department of Revenue lifted its position in shares of First Horizon National by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 31,996 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 9,130 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of First Horizon National in the 2nd quarter worth approximately $16,056,000. Finally, Dalton Greiner Hartman Maher & Co. lifted its position in shares of First Horizon National by 9.8% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,057,968 shares of the financial services provider’s stock worth $18,874,000 after purchasing an additional 94,118 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

NYSE:FHN opened at $16.67 on Thursday. The firm has a market capitalization of $5.35 billion, a PE ratio of 12.11, a P/E/G ratio of 1.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National Corp has a twelve month low of $14.94 and a twelve month high of $20.86.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $441.81 million for the quarter, compared to the consensus estimate of $448.62 million. First Horizon National had a net margin of 18.17% and a return on equity of 9.60%. During the same period in the previous year, the firm earned $0.32 EPS. Analysts forecast that First Horizon National Corp will post 1.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, December 13th. First Horizon National’s dividend payout ratio is 43.24%.

A number of brokerages have recently issued reports on FHN. Barclays dropped their price target on shares of First Horizon National from $23.00 to $21.00 and set a “$17.03” rating on the stock in a research report on Wednesday, July 18th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of First Horizon National in a research report on Friday, July 13th. Stephens restated a “$17.03” rating and issued a $18.50 price target on shares of First Horizon National in a research report on Wednesday, July 18th. Morgan Stanley dropped their price target on shares of First Horizon National from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. Finally, ValuEngine downgraded shares of First Horizon National from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.82.

In other news, insider David T. Popwell acquired 15,750 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were purchased at an average cost of $15.88 per share, with a total value of $250,110.00. Following the acquisition, the insider now directly owns 283,692 shares of the company’s stock, valued at $4,505,028.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Yousef A. Valine acquired 3,000 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were purchased at an average cost of $16.29 per share, for a total transaction of $48,870.00. Following the completion of the acquisition, the executive vice president now directly owns 182,363 shares in the company, valued at $2,970,693.27. The disclosure for this purchase can be found here. Insiders have acquired a total of 68,750 shares of company stock worth $1,086,980 over the last ninety days. Insiders own 1.75% of the company’s stock.

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First Horizon National Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Read More: Hedge Funds

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Institutional Ownership by Quarter for First Horizon National (NYSE:FHN)

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