Allianz Asset Management GmbH bought a new stake in First Horizon National Corporation (NYSE:FHN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,445,900 shares of the financial services provider’s stock, valued at approximately $27,689,000. Allianz Asset Management GmbH owned 0.62% of First Horizon National at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its stake in First Horizon National by 1.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,052,633 shares of the financial services provider’s stock valued at $20,158,000 after purchasing an additional 16,633 shares during the last quarter. Barings LLC bought a new position in shares of First Horizon National during the 3rd quarter worth approximately $372,000. Wells Fargo & Company MN lifted its position in shares of First Horizon National by 8.2% during the 3rd quarter. Wells Fargo & Company MN now owns 1,774,624 shares of the financial services provider’s stock worth $33,985,000 after buying an additional 133,810 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of First Horizon National by 13.2% during the 3rd quarter. Schroder Investment Management Group now owns 4,924,091 shares of the financial services provider’s stock worth $93,705,000 after buying an additional 575,552 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in shares of First Horizon National by 12.1% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 118,400 shares of the financial services provider’s stock worth $2,267,000 after buying an additional 12,800 shares in the last quarter. Institutional investors own 89.03% of the company’s stock.
Several equities analysts have commented on FHN shares. Hovde Group lifted their target price on shares of First Horizon National from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. BidaskClub raised shares of First Horizon National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Raymond James Financial raised shares of First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Wednesday, November 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of First Horizon National in a report on Tuesday, December 5th. Finally, Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. First Horizon National presently has an average rating of “Hold” and a consensus target price of $20.75.
Shares of First Horizon National Corporation (NYSE:FHN) traded down $0.19 during mid-day trading on Monday, reaching $19.94. 3,302,100 shares of the company’s stock were exchanged, compared to its average volume of 714,082. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National Corporation has a 1-year low of $18.68 and a 1-year high of $45.00. The company has a market cap of $4,670.56, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.57 and a beta of 1.03.
First Horizon National (NYSE:FHN) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The business had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $340.48 million. During the same quarter in the previous year, the firm posted $0.27 EPS. analysts forecast that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.
The firm 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. 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 1.81%. First Horizon National’s payout ratio is 32.14%.
In other news, Director R Brad Martin sold 5,449 shares of the business’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 completion of the transaction, the director now directly owns 482,188 shares in the company, valued at approximately $9,282,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were 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 $4,329,303.90. The disclosure for this sale can be found here. Insiders have sold a total of 54,056 shares of company stock worth $1,010,022 in the last three months. Insiders own 2.09% of the company’s stock.
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First Horizon National 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.
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