Schwab Charles Investment Management Inc. lowered its position in First Horizon National Corporation (NYSE:FHN) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,036,000 shares of the financial services provider’s stock after selling 17,740 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.44% of First Horizon National Corporation worth $18,048,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in First Horizon National Corporation during the 1st quarter worth about $189,000. United Capital Financial Advisers LLC increased its position in First Horizon National Corporation by 1.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 157 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in First Horizon National Corporation during the 1st quarter worth about $225,000. Gotham Asset Management LLC purchased a new stake in First Horizon National Corporation during the 1st quarter worth about $243,000. Finally, World Asset Management Inc increased its position in First Horizon National Corporation by 1.8% during the 1st quarter. World Asset Management Inc now owns 14,468 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

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A number of analysts recently commented on FHN shares. BidaskClub upgraded First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reiterated 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. ValuEngine upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Deutsche Bank AG reiterated a “hold” rating on shares of First Horizon National Corporation in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $20.00 price objective on shares of First Horizon National Corporation in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. First Horizon National Corporation presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Shares of First Horizon National Corporation (NYSE:FHN) opened at 17.96 on Friday. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 16.18 and a beta of 1.04. First Horizon National Corporation has a 52 week low of $14.60 and a 52 week high of $20.84. The firm has a 50-day moving average price of $17.29 and a 200-day moving average price of $17.79.

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 the consensus estimate of $0.26 by $0.01. The firm had revenue of $328.37 million for the quarter, compared to analyst estimates of $331.27 million. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. First Horizon National Corporation’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts expect that First Horizon National Corporation will post $1.10 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 2.01%. The ex-dividend date is Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.

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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