Huber Capital Management LLC trimmed its position in shares of First Horizon National Corp (NYSE:FHN) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,057,807 shares of the financial services provider’s stock after selling 79,721 shares during the period. First Horizon National makes up approximately 2.3% of Huber Capital Management LLC’s holdings, making the stock its 8th biggest holding. Huber Capital Management LLC owned approximately 0.64% of First Horizon National worth $35,518,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System raised its holdings in First Horizon National by 1.6% during 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 period. Summit Asset Management LLC raised its holdings in First Horizon National by 5.8% during the 3rd quarter. Summit Asset Management LLC now owns 68,950 shares of the financial services provider’s stock valued at $1,190,000 after buying an additional 3,780 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in First Horizon National by 3.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 127,254 shares of the financial services provider’s stock valued at $2,270,000 after buying an additional 4,714 shares during the period. State of Wisconsin Investment Board raised its holdings in First Horizon National by 8.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 63,449 shares of the financial services provider’s stock valued at $1,132,000 after buying an additional 5,133 shares during the period. Finally, American International Group Inc. raised its holdings in First Horizon National by 0.8% during the 2nd quarter. American International Group Inc. now owns 658,463 shares of the financial services provider’s stock valued at $11,747,000 after buying an additional 5,369 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider David T. Popwell purchased 15,750 shares of the company’s stock in a transaction dated Wednesday, October 17th. The shares were acquired at an average price of $15.88 per share, with a total value of $250,110.00. Following the transaction, the insider now owns 283,692 shares of the company’s stock, valued at $4,505,028.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Yousef A. Valine purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average cost of $16.29 per share, for a total transaction of $48,870.00. Following the transaction, 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. In the last quarter, insiders acquired 68,750 shares of company stock worth $1,086,980. Insiders own 1.75% of the company’s stock.
FHN stock opened at $15.59 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.94. First Horizon National Corp has a twelve month low of $14.94 and a twelve month high of $20.86. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92.
First Horizon National (NYSE:FHN) last released its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. First Horizon National had a return on equity of 9.60% and a net margin of 18.17%. The business had revenue of $441.81 million for the quarter, compared to analyst estimates of $448.62 million. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that First Horizon National Corp will post 1.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 3.08%. First Horizon National’s payout ratio is 43.24%.
Several analysts recently weighed in on the company. ValuEngine lowered First Horizon National from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded First Horizon National from a “strong sell” rating to a “hold” rating in a report on Friday, September 14th. Wells Fargo & Co set a $20.00 price target on First Horizon National and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, Deutsche Bank upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 price target on the stock in a report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $20.80.
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About First Horizon National
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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