Country Club Trust Company n.a. decreased its position in shares of First Horizon National Corp (NYSE:FHN) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,600 shares of the financial services provider’s stock after selling 3,215 shares during the period. Country Club Trust Company n.a.’s holdings in First Horizon National were worth $2,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FHN. Scout Investments Inc. acquired a new position in First Horizon National during the 1st quarter worth $44,083,000. Lord Abbett & CO. LLC lifted its position in First Horizon National by 32.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 9,069,107 shares of the financial services provider’s stock worth $170,771,000 after acquiring an additional 2,221,494 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in First Horizon National during the 1st quarter worth $26,997,000. OppenheimerFunds Inc. lifted its position in First Horizon National by 86.2% during the 1st quarter. OppenheimerFunds Inc. now owns 1,953,343 shares of the financial services provider’s stock worth $36,782,000 after acquiring an additional 904,396 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in First Horizon National during the 2nd quarter worth $16,056,000. 83.45% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on FHN. FIG Partners raised shares of First Horizon National from a “market perform” rating to an “outperform” rating in a research report on Monday, April 16th. Hovde Group set a $21.00 price objective on shares of First Horizon National and gave the company a “hold” rating in a research report on Monday, April 16th. Royal Bank of Canada cut their price objective on shares of First Horizon National from $21.00 to $19.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Keefe, Bruyette & Woods cut their price objective on shares of First Horizon National from $23.00 to $22.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Finally, SunTrust Banks cut their price objective on shares of First Horizon National to $20.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.83.

In other First Horizon National news, Director Scott M. Niswonger bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were acquired at an average price of $18.20 per share, with a total value of $1,820,000.00. Following the completion of the purchase, the director now directly owns 639,403 shares in the company, valued at approximately $11,637,134.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman D Bryan Jordan bought 25,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $444,000.00. Following the purchase, the chairman now owns 611,832 shares of the company’s stock, valued at $10,866,136.32. The disclosure for this purchase can be found here. In the last three months, insiders purchased 130,000 shares of company stock worth $2,352,400. 1.75% of the stock is currently owned by insiders.

First Horizon National opened at $18.33 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $5.95 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. First Horizon National Corp has a twelve month low of $15.84 and a twelve month high of $20.86. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.28.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 2.62%. First Horizon National’s payout ratio is currently 43.24%.

First Horizon National Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

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

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