Xact Kapitalforvaltning AB grew its holdings in First Horizon National Corp (NYSE:FHN) by 53.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,885 shares of the financial services provider’s stock after acquiring an additional 21,600 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in First Horizon National were worth $814,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in First Horizon National by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,152,044 shares of the financial services provider’s stock worth $520,425,000 after buying an additional 458,506 shares during the period. Vanguard Group Inc lifted its stake in First Horizon National by 1.5% in the third quarter. Vanguard Group Inc now owns 30,152,044 shares of the financial services provider’s stock valued at $520,425,000 after purchasing an additional 458,506 shares during the last quarter. FMR LLC lifted its stake in First Horizon National by 56.1% in the third quarter. FMR LLC now owns 19,482,189 shares of the financial services provider’s stock valued at $336,262,000 after purchasing an additional 7,001,217 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in First Horizon National by 21.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 14,669,760 shares of the financial services provider’s stock valued at $253,200,000 after purchasing an additional 2,617,314 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in First Horizon National by 2.8% in the third quarter. JPMorgan Chase & Co. now owns 7,152,621 shares of the financial services provider’s stock valued at $123,455,000 after purchasing an additional 192,610 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.
Shares of NYSE:FHN traded up $0.15 during trading on Monday, hitting $15.48. 448,928 shares of the company were exchanged, compared to its average volume of 3,575,468. The company has a market cap of $4.97 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.53 and a beta of 1.17. First Horizon National Corp has a 52-week low of $12.30 and a 52-week high of $20.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Thursday, March 14th. This is an increase from First Horizon National’s previous quarterly dividend of $0.12. First Horizon National’s dividend payout ratio (DPR) is 34.04%.
In other First Horizon National news, Director Scott M. Niswonger acquired 25,000 shares of the stock in a transaction that occurred on Monday, December 10th. The shares were bought at an average price of $14.55 per share, for a total transaction of $363,750.00. Following the completion of the transaction, the director now owns 689,951 shares of the company’s stock, valued at approximately $10,038,787.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.75% of the company’s stock.
Several research firms recently commented on FHN. Zacks Investment Research upgraded First Horizon National from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. Morgan Stanley dropped their price objective on First Horizon National from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 11th. Robert W. Baird began coverage on First Horizon National in a research note on Thursday, December 20th. They issued a “neutral” rating on the stock. ValuEngine downgraded First Horizon National from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Finally, Deutsche Bank upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price objective on the stock in a research note on Monday, November 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.15.
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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