Cramer Rosenthal Mcglynn LLC lowered its position in First Horizon National Corporation (NYSE:FHN) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834,351 shares of the financial services provider’s stock after selling 6,660 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.36% of First Horizon National worth $15,978,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL grew its holdings in shares of First Horizon National by 15.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock worth $1,840,000 after acquiring an additional 13,900 shares during the period. CNA Financial Corp grew its holdings in shares of First Horizon National by 11.9% in the 2nd quarter. CNA Financial Corp now owns 64,800 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 6,900 shares during the period. Sei Investments Co. grew its holdings in shares of First Horizon National by 4.6% in the 2nd quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock worth $1,101,000 after acquiring an additional 2,761 shares during the period. Icon Advisers Inc. Co. acquired a new stake in shares of First Horizon National in the 2nd quarter worth approximately $620,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of First Horizon National by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock worth $116,124,000 after acquiring an additional 258,298 shares during the period. Institutional investors and hedge funds own 89.03% of the company’s stock.
In other First Horizon National news, CFO William C. Losch III sold 3,500 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the transaction, the chief financial officer now owns 233,890 shares of the company’s stock, valued at approximately $4,329,303.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the transaction, the director now directly owns 482,188 shares in the company, valued at approximately $9,282,119. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,056 shares of company stock worth $1,010,022. 2.09% of the stock is owned by insiders.
A number of research firms recently weighed in on FHN. UBS upgraded First Horizon National from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Raymond James Financial upped their price target on First Horizon National from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (up previously from $19.50) on shares of First Horizon National in a report on Wednesday, October 4th. Zacks Investment Research cut First Horizon National from a “buy” rating to a “sell” rating in a report on Tuesday, September 19th. Finally, ValuEngine cut First Horizon National from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. First Horizon National presently has a consensus rating of “Hold” and a consensus target price of $20.75.
Shares of First Horizon National Corporation (FHN) traded down $0.34 during trading hours on Wednesday, reaching $19.93. The company’s stock had a trading volume of 12,725,301 shares, compared to its average volume of 674,472. The firm has a market cap of $4,747.85, a PE ratio of 19.31, a PEG ratio of 2.61 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. First Horizon National Corporation has a 52-week low of $18.68 and a 52-week high of $45.00.
First Horizon National (NYSE:FHN) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $340.48 million. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. During the same quarter in the prior year, the firm earned $0.27 EPS. equities analysts anticipate that First Horizon National Corporation will post 1.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, November 2nd. First Horizon National’s dividend payout ratio (DPR) is presently 32.14%.
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About First Horizon National
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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