Rockefeller Capital Management L.P. Buys Shares of 1,206,089 First Horizon National Corp (FHN)

Rockefeller Capital Management L.P. bought a new stake in First Horizon National Corp (NYSE:FHN) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,206,089 shares of the financial services provider’s stock, valued at approximately $20,817,000. Rockefeller Capital Management L.P. owned about 0.37% of First Horizon National at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC grew its position in shares of First Horizon National by 68.2% in the 3rd quarter. Private Advisor Group LLC now owns 19,276 shares of the financial services provider’s stock valued at $333,000 after buying an additional 7,815 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of First Horizon National by 6.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,106,663 shares of the financial services provider’s stock valued at $88,141,000 after buying an additional 306,921 shares during the last quarter. Arizona State Retirement System grew its position in shares of First Horizon National by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 230,768 shares of the financial services provider’s stock valued at $3,983,000 after buying an additional 3,604 shares during the last quarter. Mesirow Financial Investment Management Equity Management grew its position in shares of First Horizon National by 16.4% in the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 86,715 shares of the financial services provider’s stock valued at $1,497,000 after buying an additional 12,225 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of First Horizon National by 2.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 896,279 shares of the financial services provider’s stock valued at $15,469,000 after buying an additional 20,764 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider David T. Popwell bought 15,750 shares of First Horizon National stock in a transaction dated Wednesday, October 17th. The stock was bought at an average price of $15.88 per share, for a total transaction of $250,110.00. Following the purchase, the insider now owns 283,692 shares of the company’s stock, valued at $4,505,028.96. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Yousef A. Valine bought 3,000 shares of First Horizon National stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average price of $16.29 per share, with a total value of $48,870.00. Following the purchase, the executive vice president now directly owns 182,363 shares in the company, valued at approximately $2,970,693.27. The disclosure for this purchase can be found here. Insiders bought a total of 68,750 shares of company stock valued at $1,086,980 in the last 90 days. Company insiders own 1.75% of the company’s stock.

FHN has been the topic of a number of recent analyst reports. SunTrust Banks dropped their target price on shares of First Horizon National to $20.00 and set a “$17.03” rating on the stock in a research report on Wednesday, July 18th. Stephens reissued a “$17.03” rating and set a $18.50 price objective on shares of First Horizon National in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of First Horizon National from a “strong sell” rating to a “hold” rating in a research report on Friday, September 14th. UBS Group downgraded shares of First Horizon National from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $19.00 in a research report on Wednesday, July 18th. Finally, Wells Fargo & Co set a $20.00 price objective on shares of First Horizon National and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.82.

Shares of First Horizon National stock opened at $16.36 on Tuesday. First Horizon National Corp has a 1 year low of $14.94 and a 1 year high of $20.86. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93.

First Horizon National (NYSE:FHN) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. First Horizon National had a net margin of 18.17% and a return on equity of 9.60%. The company had revenue of $441.81 million for the quarter, compared to the consensus estimate of $448.62 million. During the same period last year, the firm posted $0.32 EPS. On average, research analysts forecast that First Horizon National Corp will post 1.41 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, December 13th. First Horizon National’s dividend payout ratio (DPR) is presently 43.24%.

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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.

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

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