Crossmark Global Holdings Inc. Invests $481,000 in First Horizon National Corporation (FHN) Stock

Crossmark Global Holdings Inc. bought a new position in shares of First Horizon National Corporation (NYSE:FHN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 25,094 shares of the financial services provider’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in First Horizon National by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 19,672,261 shares of the financial services provider’s stock valued at $342,691,000 after acquiring an additional 435,264 shares in the last quarter. State Street Corp raised its stake in shares of First Horizon National by 6.4% during the 2nd quarter. State Street Corp now owns 14,203,778 shares of the financial services provider’s stock worth $247,425,000 after purchasing an additional 850,609 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Horizon National by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock worth $116,124,000 after purchasing an additional 258,298 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of First Horizon National by 6.3% during the 2nd quarter. Franklin Resources Inc. now owns 5,884,000 shares of the financial services provider’s stock worth $102,499,000 after purchasing an additional 349,900 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of First Horizon National by 5.1% during the 2nd quarter. Victory Capital Management Inc. now owns 5,307,967 shares of the financial services provider’s stock worth $92,465,000 after purchasing an additional 257,701 shares in the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.

In other First Horizon National news, Director R Brad Martin sold 5,449 shares of the business’s 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 sale, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total value of $840,343.41. Following the completion of the sale, the chief financial officer now owns 275,497 shares in the company, valued at $5,132,509.11. The disclosure for this sale can be found here. Insiders have sold 54,056 shares of company stock worth $1,010,022 over the last quarter. 2.09% of the stock is currently owned by corporate insiders.

Shares of First Horizon National Corporation (FHN) traded up $0.09 during trading on Wednesday, reaching $20.02. The company’s stock had a trading volume of 4,037,386 shares, compared to its average volume of 688,782. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. First Horizon National Corporation has a 12-month low of $18.68 and a 12-month high of $45.00. The firm has a market capitalization of $4,747.85, a PE ratio of 19.31, a PEG ratio of 2.61 and a beta of 1.03.

First Horizon National (NYSE:FHN) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company 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 previous year, the firm earned $0.27 earnings per share. analysts expect that First Horizon National Corporation will post 1.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.80%. First Horizon National’s dividend payout ratio (DPR) is currently 32.14%.

A number of research firms recently weighed in on FHN. J P Morgan Chase & Co restated a “buy” rating and issued a $20.00 price target on shares of First Horizon National in a research note on Wednesday, September 13th. ValuEngine lowered First Horizon National from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Barclays reissued an “equal weight” rating and set a $21.00 target price on shares of First Horizon National in a report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $19.50 target price on shares of First Horizon National in a report on Wednesday, September 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price objective on shares of First Horizon National in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.75.

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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.

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

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