ETF Managers Group LLC increased its position in First Horizon National Corp (NYSE:FHN) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,714 shares of the financial services provider’s stock after purchasing an additional 792 shares during the period. ETF Managers Group LLC’s holdings in First Horizon National were worth $108,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc boosted its stake in First Horizon National by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 30,152,044 shares of the financial services provider’s stock worth $520,425,000 after purchasing an additional 458,506 shares in the last quarter. BlackRock Inc. boosted its stake in First Horizon National by 0.9% in the 4th quarter. BlackRock Inc. now owns 29,426,776 shares of the financial services provider’s stock worth $387,255,000 after purchasing an additional 275,221 shares in the last quarter. FMR LLC boosted its stake in First Horizon National by 35.6% in the 4th quarter. FMR LLC now owns 26,423,350 shares of the financial services provider’s stock worth $347,731,000 after purchasing an additional 6,941,161 shares in the last quarter. Parnassus Investments CA boosted its stake in First Horizon National by 17.7% in the 4th quarter. Parnassus Investments CA now owns 9,542,251 shares of the financial services provider’s stock worth $125,576,000 after purchasing an additional 1,432,640 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in First Horizon National by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,449,014 shares of the financial services provider’s stock worth $71,708,000 after purchasing an additional 428,555 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.
In other news, EVP Susan L. Springfield sold 29,625 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the completion of the sale, the executive vice president now owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is owned by corporate insiders.
A number of equities analysts recently issued reports on FHN shares. ValuEngine cut shares of First Horizon National from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Zacks Investment Research upgraded shares of First Horizon National from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Stephens reiterated a “neutral” rating on shares of First Horizon National in a research note on Tuesday, April 16th. Jefferies Financial Group lowered First Horizon National from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, TheStreet raised First Horizon National from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.00.
Shares of NYSE:FHN opened at $14.01 on Monday. First Horizon National Corp has a fifty-two week low of $12.30 and a fifty-two week high of $19.43. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20.
First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. First Horizon National had a return on equity of 10.02% and a net margin of 23.95%. The business had revenue of $435.60 million during the quarter, compared to analyst estimates of $428.95 million. During the same quarter in the previous year, the firm earned $0.34 EPS. First Horizon National’s revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that First Horizon National Corp will post 1.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, June 13th. First Horizon National’s payout ratio is currently 39.72%.
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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