Verition Fund Management LLC purchased a new position in First Horizon National Corporation (NYSE:FHN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,101 shares of the financial services provider’s stock, valued at approximately $490,000.

A number of other hedge funds have also recently modified their holdings of FHN. UBS Asset Management Americas Inc. grew its stake in First Horizon National Corporation by 16.1% in the first quarter. UBS Asset Management Americas Inc. now owns 170,756 shares of the financial services provider’s stock worth $3,159,000 after purchasing an additional 23,691 shares during the period. Prudential Financial Inc. grew its stake in First Horizon National Corporation by 6.5% in the first quarter. Prudential Financial Inc. now owns 158,430 shares of the financial services provider’s stock worth $2,931,000 after purchasing an additional 9,710 shares during the period. Principal Financial Group Inc. grew its stake in First Horizon National Corporation by 3.8% in the first quarter. Principal Financial Group Inc. now owns 953,972 shares of the financial services provider’s stock worth $17,651,000 after purchasing an additional 34,523 shares during the period. Teachers Advisors LLC grew its stake in First Horizon National Corporation by 8.7% in the first quarter. Teachers Advisors LLC now owns 242,964 shares of the financial services provider’s stock worth $4,495,000 after purchasing an additional 19,401 shares during the period. Finally, California Public Employees Retirement System grew its stake in First Horizon National Corporation by 9.7% in the first quarter. California Public Employees Retirement System now owns 693,139 shares of the financial services provider’s stock worth $12,823,000 after purchasing an additional 61,400 shares during the period. 85.05% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on FHN shares. Deutsche Bank AG reaffirmed a “hold” rating on shares of First Horizon National Corporation in a research note on Monday, July 3rd. BidaskClub cut First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. ValuEngine cut First Horizon National Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. J P Morgan Chase & Co reissued a “buy” rating and issued a $20.00 target price on shares of First Horizon National Corporation in a research note on Wednesday, September 13th. Finally, Zacks Investment Research raised First Horizon National Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.80.

First Horizon National Corporation (NYSE FHN) opened at 19.02 on Thursday. First Horizon National Corporation has a one year low of $14.92 and a one year high of $20.84. The stock’s 50 day moving average price is $18.18 and its 200-day moving average price is $17.80. The company has a market capitalization of $4.46 billion, a P/E ratio of 16.98 and a beta of 1.05.

First Horizon National Corporation (NYSE:FHN) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. First Horizon National Corporation had a return on equity of 9.40% and a net margin of 19.36%. The firm had revenue of $337.00 million for the quarter, compared to the consensus estimate of $340.48 million. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts forecast that First Horizon National Corporation will post $1.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.36 annualized dividend and a yield of 1.89%. First Horizon National Corporation’s dividend payout ratio (DPR) is 32.14%.

In related news, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total transaction of $840,343.41. Following the transaction, the chief financial officer now directly owns 275,497 shares in the company, valued at approximately $5,132,509.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total value of $64,785.00. Following the transaction, the chief financial officer now owns 233,890 shares in the company, valued at $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

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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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