Credit Suisse AG decreased its position in First Horizon National Corporation (NYSE:FHN) by 54.1% during the first quarter, Holdings Channel reports. The firm owned 381,511 shares of the financial services provider’s stock after selling 449,218 shares during the period. Credit Suisse AG’s holdings in First Horizon National Corporation were worth $7,059,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in FHN. BlackRock Inc. boosted its position in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares during the period. Vanguard Group Inc. boosted its position in First Horizon National Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 19,236,997 shares of the financial services provider’s stock worth $355,884,000 after buying an additional 1,039,986 shares during the period. State Street Corp boosted its position in First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares during the period. JPMorgan Chase & Co. boosted its position in First Horizon National Corporation by 20.0% in the first quarter. JPMorgan Chase & Co. now owns 6,407,836 shares of the financial services provider’s stock worth $118,546,000 after buying an additional 1,066,846 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 17.71 on Tuesday. The company has a 50-day moving average of $17.35 and a 200 day moving average of $18.86. The firm has a market capitalization of $4.14 billion, a P/E ratio of 18.26 and a beta of 1.06. First Horizon National Corporation has a 52 week low of $14.29 and a 52 week high of $20.84.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The business had revenue of $328.37 million during the quarter, compared to the consensus estimate of $331.27 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that First Horizon National Corporation will post $1.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, June 7th. First Horizon National Corporation’s payout ratio is 32.43%.

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FHN has been the subject of a number of research reports. Hovde Group lowered their target price on First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating for the company in a report on Monday, April 17th. Zacks Investment Research upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 21st. Barclays PLC reduced their price objective on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. ValuEngine upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.06.

In other First Horizon National Corporation news, Director Vicki R. Palmer sold 5,211 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.65, for a total value of $91,974.15. Following the completion of the sale, the director now directly owns 57,818 shares of the company’s stock, valued at approximately $1,020,487.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.09% of the company’s stock.

First Horizon National Corporation Company Profile

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.

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

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