Dalton Greiner Hartman Maher & Co. lessened its stake in First Horizon National Corp (NYSE:FHN) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,021,501 shares of the financial services provider’s stock after selling 83,570 shares during the period. First Horizon National accounts for about 1.2% of Dalton Greiner Hartman Maher & Co.’s portfolio, making the stock its 22nd largest position. Dalton Greiner Hartman Maher & Co. owned 0.33% of First Horizon National worth $16,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of FHN. First Trust Advisors LP grew its holdings in First Horizon National by 15.7% during the 3rd quarter. First Trust Advisors LP now owns 3,171,723 shares of the financial services provider’s stock worth $51,382,000 after acquiring an additional 430,843 shares in the last quarter. Squarepoint Ops LLC grew its holdings in First Horizon National by 91.3% during the 3rd quarter. Squarepoint Ops LLC now owns 737,380 shares of the financial services provider’s stock worth $11,946,000 after acquiring an additional 351,963 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in First Horizon National by 6,980.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 42,482 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 41,882 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in First Horizon National by 258.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 412,316 shares of the financial services provider’s stock worth $6,680,000 after acquiring an additional 297,207 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in First Horizon National by 1,816.1% during the 3rd quarter. Millennium Management LLC now owns 2,764,117 shares of the financial services provider’s stock worth $44,778,000 after acquiring an additional 2,619,861 shares in the last quarter. 81.82% of the stock is currently owned by institutional investors.
In related news, EVP Yousef A. Valine sold 28,249 shares of First Horizon National stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.12, for a total value of $483,622.88. Following the completion of the sale, the executive vice president now directly owns 229,371 shares in the company, valued at approximately $3,926,831.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.
Shares of NYSE:FHN traded down $0.21 during trading on Wednesday, reaching $16.18. The stock had a trading volume of 2,210,459 shares, compared to its average volume of 3,789,472. First Horizon National Corp has a one year low of $13.30 and a one year high of $17.42. The company has a market capitalization of $5.03 billion, a P/E ratio of 11.47, a PEG ratio of 1.26 and a beta of 1.31. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $16.30 and its 200 day simple moving average is $16.00.
First Horizon National (NYSE:FHN) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $472.40 million for the quarter, compared to analysts’ expectations of $466.10 million. First Horizon National had a net margin of 19.09% and a return on equity of 10.34%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities research analysts forecast that First Horizon National Corp will post 1.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, December 12th. First Horizon National’s dividend payout ratio (DPR) is presently 39.72%.
Several research analysts have issued reports on the stock. Wells Fargo & Co increased their target price on shares of 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 cut shares of First Horizon National from an “outperform” rating to a “market perform” rating and raised their price target for the company from $17.00 to $17.50 in a report on Wednesday, October 16th. Bank of America upgraded shares of First Horizon National from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, November 5th. ValuEngine upgraded shares of First Horizon National from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Finally, Zacks Investment Research cut shares of First Horizon National from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.21.
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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