Avalon Advisors LLC Has $1.43 Million Holdings in First Horizon National Corp (FHN)

Avalon Advisors LLC trimmed its stake in First Horizon National Corp (NYSE:FHN) by 43.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,100 shares of the financial services provider’s stock after selling 58,204 shares during the quarter. Avalon Advisors LLC’s holdings in First Horizon National were worth $1,433,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FHN. Franklin Resources Inc. boosted its holdings in First Horizon National by 149.5% in the fourth quarter. Franklin Resources Inc. now owns 15,912,075 shares of the financial services provider’s stock worth $318,083,000 after acquiring an additional 9,534,594 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of First Horizon National by 93.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,660,074 shares of the financial services provider’s stock worth $153,125,000 after purchasing an additional 3,709,208 shares during the last quarter. Scout Investments Inc. purchased a new position in shares of First Horizon National in the first quarter worth $44,083,000. Lord Abbett & CO. LLC raised its stake in shares of First Horizon National by 32.4% in the first quarter. Lord Abbett & CO. LLC now owns 9,069,107 shares of the financial services provider’s stock worth $170,771,000 after purchasing an additional 2,221,494 shares during the last quarter. Finally, NWQ Investment Management Company LLC raised its stake in shares of First Horizon National by 71.1% in the fourth quarter. NWQ Investment Management Company LLC now owns 4,511,778 shares of the financial services provider’s stock worth $90,190,000 after purchasing an additional 1,875,082 shares during the last quarter. 82.89% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. Hovde Group upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday. Piper Jaffray Companies assumed coverage on First Horizon National in a research note on Monday, April 9th. They issued an “overweight” rating and a $22.00 price target for the company. FIG Partners upgraded First Horizon National from a “market perform” rating to an “outperform” rating in a research note on Monday, April 16th. Wells Fargo & Co upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Thursday, April 5th. Finally, UBS Group assumed coverage on First Horizon National in a research note on Thursday, March 22nd. They issued a “buy” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $22.17.

First Horizon National opened at $17.84 on Friday, MarketBeat Ratings reports. The firm has a market cap of $5.94 billion, a P/E ratio of 16.07, a PEG ratio of 1.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90. First Horizon National Corp has a one year low of $15.84 and a one year high of $20.86.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $437.20 million during the quarter, compared to analysts’ expectations of $438.60 million. First Horizon National had a return on equity of 9.37% and a net margin of 12.30%. First Horizon National’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. research analysts anticipate that First Horizon National Corp will post 1.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, June 7th. First Horizon National’s dividend payout ratio (DPR) is presently 43.24%.

First Horizon National 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.

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

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