Retirement Systems of Alabama lowered its stake in First Horizon National Corporation (NYSE:FHN) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 724,135 shares of the financial services provider’s stock after selling 298 shares during the period. Retirement Systems of Alabama’s holdings in First Horizon National Corporation were worth $12,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake 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 valued at $395,561,000 after buying an additional 20,980,798 shares in the last quarter. State Street Corp boosted its stake 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 valued at $247,028,000 after buying an additional 2,358,324 shares in the last quarter. Parnassus Investments CA boosted its stake in First Horizon National Corporation by 33.3% in the first quarter. Parnassus Investments CA now owns 5,000,000 shares of the financial services provider’s stock valued at $92,500,000 after buying an additional 1,250,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $115,597,000 after buying an additional 1,132,844 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in First Horizon National Corporation by 38.9% in the first quarter. Schroder Investment Management Group now owns 3,991,543 shares of the financial services provider’s stock valued at $75,320,000 after buying an additional 1,116,852 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

First Horizon National Corporation (NYSE:FHN) opened at 17.69 on Thursday. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84. The company’s 50-day moving average is $17.52 and its 200-day moving average is $18.38. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 15.94 and a beta of 1.06.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $328.37 million for the quarter, compared to analysts’ expectations of $331.27 million. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, equities research analysts anticipate that First Horizon National Corporation will post $1.10 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.

COPYRIGHT VIOLATION NOTICE: This story was posted by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://www.dailypolitical.com/2017/08/10/retirement-systems-of-alabama-decreases-stake-in-first-horizon-national-corporation-fhn.html.

Several analysts recently commented on FHN shares. Vining Sparks upgraded shares of First Horizon National Corporation to an “outperform” rating in a report on Tuesday, April 18th. Deutsche Bank AG restated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Stephens restated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, April 17th. BidaskClub lowered shares of First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Barclays PLC cut their price objective on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.57.

In other First Horizon National Corporation news, Director Vicki R. Palmer sold 5,211 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total transaction of $91,974.15. Following the transaction, the director now owns 57,818 shares in the company, valued at approximately $1,020,487.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding FHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Horizon National Corporation (NYSE:FHN).

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

Receive News & Ratings for First Horizon National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.