California State Teachers Retirement System Sells 45,742 Shares of First Horizon National Corporation (NYSE:FHN)

California State Teachers Retirement System trimmed its holdings in First Horizon National Corporation (NYSE:FHN) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 426,477 shares of the financial services provider’s stock after selling 45,742 shares during the period. California State Teachers Retirement System owned 0.18% of First Horizon National Corporation worth $7,430,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Horizon National Corporation by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 676 shares during the period. Tudor Investment Corp ET AL acquired a new position in First Horizon National Corporation during the first quarter worth about $189,000. Greenwood Capital Associates LLC grew its position in First Horizon National Corporation by 7.3% during the second quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after buying an additional 757 shares during the period. United Capital Financial Advisers LLC grew its position in First Horizon National Corporation by 1.3% during the first quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after buying an additional 157 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in First Horizon National Corporation during the first quarter worth about $225,000. 84.95% of the stock is owned by institutional investors and hedge funds.

First Horizon National Corporation (FHN) traded up $0.03 during trading hours on Friday, reaching $18.05. 1,549,200 shares of the company’s stock were exchanged, compared to its average volume of 2,862,773. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The stock has a market capitalization of $4,230.00, a P/E ratio of 17.16, a P/E/G ratio of 2.33 and a beta of 1.02. First Horizon National Corporation has a 12 month low of $15.84 and a 12 month high of $20.84.

First Horizon National Corporation (NYSE:FHN) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. First Horizon National Corporation had a net margin of 19.36% and a return on equity of 9.40%. The company had revenue of $337.00 million during the quarter, compared to analyst estimates of $340.48 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. research analysts anticipate that First Horizon National Corporation will post 1.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, November 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, November 2nd. First Horizon National Corporation’s payout ratio is currently 32.14%.

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Several research analysts have weighed in on the stock. UBS AG upgraded shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. upped their target price on shares of First Horizon National Corporation from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (up from $19.50) on shares of First Horizon National Corporation in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of First Horizon National Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, ValuEngine lowered shares of First Horizon National Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $20.22.

In other news, CFO William C. Losch III sold 45,107 shares of the 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 of the company’s stock, valued at $5,132,509.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Brad Martin sold 5,449 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $19.25, for a total transaction of $104,893.25. Following the sale, the director now directly owns 482,188 shares of the company’s stock, valued at $9,282,119. The disclosure for this sale can be found here. Insiders sold 54,056 shares of company stock valued at $1,010,022 in the last three months. Company insiders own 2.09% of the company’s stock.

First Horizon National Corporation Company Profile

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 Corporation (NYSE:FHN)

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