Twin Tree Management LP Purchases 37,093 Shares of First Horizon National Corp (FHN)

Twin Tree Management LP raised its position in First Horizon National Corp (NYSE:FHN) by 458.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,186 shares of the financial services provider’s stock after purchasing an additional 37,093 shares during the quarter. Twin Tree Management LP’s holdings in First Horizon National were worth $780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in First Horizon National by 2.3% during the first quarter. Principal Financial Group Inc. now owns 1,411,131 shares of the financial services provider’s stock valued at $26,573,000 after purchasing an additional 32,016 shares in the last quarter. State of Alaska Department of Revenue raised its stake in First Horizon National by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 31,996 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 9,130 shares in the last quarter. Bank of Montreal Can raised its stake in First Horizon National by 66.1% during the second quarter. Bank of Montreal Can now owns 1,024,871 shares of the financial services provider’s stock valued at $18,285,000 after purchasing an additional 408,012 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in First Horizon National during the second quarter valued at $229,000. Finally, Amalgamated Bank raised its stake in First Horizon National by 10.7% during the second quarter. Amalgamated Bank now owns 64,901 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 6,256 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Shares of FHN opened at $16.18 on Thursday. First Horizon National Corp has a twelve month low of $14.94 and a twelve month high of $20.86. The firm has a market capitalization of $5.23 billion, a PE ratio of 14.58, a PEG ratio of 1.09 and a beta of 0.93. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26.

First Horizon National (NYSE:FHN) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The business 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 quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that First Horizon National Corp will post 1.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, December 13th. First Horizon National’s payout ratio is presently 43.24%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of First Horizon National from a “strong sell” rating to a “hold” rating in a research note on Friday, September 14th. Wells Fargo & Co set a $20.00 target price on shares of First Horizon National and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Deutsche Bank raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 target price on the stock in a research note on Monday, November 12th. Finally, ValuEngine raised shares of First Horizon National from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. First Horizon National currently has an average rating of “Buy” and a consensus target price of $20.80.

In related news, EVP Yousef A. Valine purchased 3,000 shares of the business’s stock in a transaction dated 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 owns 182,363 shares in the company, valued at approximately $2,970,693.27. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott M. Niswonger purchased 50,000 shares of the business’s stock in a transaction dated Friday, October 19th. The stock was bought at an average price of $15.76 per share, for a total transaction of $788,000.00. Following the completion of the acquisition, the director now owns 640,951 shares of the company’s stock, valued at approximately $10,101,387.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 68,750 shares of company stock worth $1,086,980. Company insiders own 1.75% of the company’s stock.

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First Horizon National Company 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.

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

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