Connable Office Inc. purchased a new stake in shares of First Horizon National Corporation (NYSE:FHN) during the second quarter, Holdings Channel reports. The firm purchased 14,601 shares of the financial services provider’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in shares of First Horizon National Corporation by 23.8% in the second quarter. Canada Pension Plan Investment Board now owns 26,000 shares of the financial services provider’s stock valued at $453,000 after buying an additional 5,000 shares in the last quarter. Pioneer Investment Management Inc. increased its stake in First Horizon National Corporation by 10.7% in the second quarter. Pioneer Investment Management Inc. now owns 1,755,341 shares of the financial services provider’s stock worth $30,578,000 after buying an additional 169,554 shares during the period. Sei Investments Co. increased its stake in First Horizon National Corporation by 4.6% in the second quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 2,761 shares during the last quarter. Texas Permanent School Fund increased its stake in First Horizon National Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 170,686 shares of the financial services provider’s stock worth $2,973,000 after buying an additional 1,501 shares during the last quarter. Finally, World Asset Management Inc increased its stake in First Horizon National Corporation by 2.2% in the second quarter. World Asset Management Inc now owns 14,781 shares of the financial services provider’s stock worth $257,000 after buying an additional 313 shares during the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Shares of First Horizon National Corporation (FHN) opened at 17.25 on Friday. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84. The firm has a market capitalization of $4.04 billion, a P/E ratio of 15.54 and a beta of 1.06. The company has a 50 day moving average of $17.54 and a 200-day moving average of $18.36.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm had revenue of $328.37 million for the quarter, compared to analyst estimates of $331.27 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. Analysts predict that First Horizon National Corporation will post $1.10 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.

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FHN has been the topic of a number of research reports. Deutsche Bank AG reiterated a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Stephens reaffirmed a “hold” rating on shares of First Horizon National Corporation in a research report on Thursday, May 4th. Hovde Group lowered their price objective on shares of First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating on the stock in a research report on Monday, April 17th. ValuEngine raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Horizon National Corporation in a research report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.57.

In related news, Director Vicki R. Palmer sold 5,211 shares of the company’s 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 completion of the sale, the director now owns 57,818 shares in the company, valued at $1,020,487.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.09% of the stock is owned by corporate insiders.

About First Horizon National Corporation

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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