Comerica Bank lowered its position in First Horizon National Corp (NYSE:FHN) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 258,841 shares of the financial services provider’s stock after selling 30,995 shares during the period. Comerica Bank owned 0.08% of First Horizon National worth $4,150,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. NEXT Financial Group Inc bought a new position in First Horizon National in the second quarter worth approximately $30,000. Steward Partners Investment Advisory LLC bought a new position in First Horizon National in the second quarter worth approximately $38,000. Signaturefd LLC boosted its holdings in First Horizon National by 63.8% in the second quarter. Signaturefd LLC now owns 2,761 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,075 shares in the last quarter. Quest Capital Management Inc. ADV bought a new position in First Horizon National in the third quarter worth approximately $42,000. Finally, Parallel Advisors LLC boosted its holdings in First Horizon National by 283.1% in the second quarter. Parallel Advisors LLC now owns 3,479 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,571 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
In other news, EVP Yousef A. Valine sold 28,249 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.12, for a total value of $483,622.88. Following the transaction, the executive vice president now owns 229,371 shares in the company, valued at $3,926,831.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.
FHN stock opened at $17.04 on Friday. First Horizon National Corp has a twelve month low of $12.30 and a twelve month high of $17.42. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $16.12 and its 200-day moving average is $15.37. The firm has a market capitalization of $5.29 billion, a PE ratio of 12.09, a P/E/G ratio of 1.86 and a beta of 1.30.
First Horizon National (NYSE:FHN) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. First Horizon National had a return on equity of 10.34% and a net margin of 19.09%. The company had revenue of $472.40 million for the quarter, compared to analyst estimates of $466.10 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that First Horizon National Corp will post 1.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.14 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.29%. First Horizon National’s dividend payout ratio is presently 39.72%.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, July 19th. Raymond James upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Thursday, August 29th. Wells Fargo & Co increased their price target on First Horizon National from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered First Horizon National from an “outperform” rating to a “market perform” rating and raised their target price for the company from $17.00 to $17.50 in a report on Wednesday, October 16th. Finally, UBS Group upgraded First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.56.
First Horizon National Company 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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