Janney Montgomery Scott LLC boosted its stake in shares of First Horizon National Corp (NYSE:FHN) by 178.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 44,206 shares of the financial services provider’s stock after buying an additional 28,305 shares during the period. Janney Montgomery Scott LLC’s holdings in First Horizon National were worth $716,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FHN. NEXT Financial Group Inc bought a new position in First Horizon National in the 2nd quarter valued at $30,000. Steward Partners Investment Advisory LLC bought a new position in shares of First Horizon National during the 2nd quarter worth $38,000. Quest Capital Management Inc. ADV bought a new position in shares of First Horizon National during the 3rd quarter worth $42,000. Signaturefd LLC grew its position in shares of First Horizon National by 63.8% during the 2nd quarter. Signaturefd LLC now owns 2,761 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,075 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of First Horizon National by 283.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,479 shares of the financial services provider’s stock worth $52,000 after buying an additional 2,571 shares in the last quarter. Institutional investors own 84.50% of the company’s stock.
Shares of NYSE FHN traded up $0.02 during mid-day trading on Tuesday, reaching $16.82. 1,274,663 shares of the company were exchanged, compared to its average volume of 3,731,111. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.84 and a beta of 1.30. First Horizon National Corp has a 1 year low of $12.30 and a 1 year high of $17.42. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $15.39.
First Horizon National (NYSE:FHN) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $472.40 million during the quarter, compared to analysts’ expectations of $466.10 million. First Horizon National had a return on equity of 10.34% and a net margin of 19.09%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. On average, equities analysts forecast that First Horizon National Corp will post 1.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, December 12th. First Horizon National’s dividend payout ratio (DPR) is currently 39.72%.
In related news, EVP Yousef A. Valine sold 28,249 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.12, for a total transaction of $483,622.88. Following the completion of the sale, the executive vice president now directly owns 229,371 shares in the company, valued at approximately $3,926,831.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.88% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, July 19th. Keefe, Bruyette & Woods downgraded First Horizon National from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $17.00 to $17.50 in a research report on Wednesday, October 16th. UBS Group raised First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, August 5th. Raymond James raised First Horizon National from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Thursday, August 29th. Finally, Wells Fargo & Co increased their price target on First Horizon National from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $18.56.
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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