First Horizon National Corporation (FHN) Shares Bought by LS Investment Advisors LLC

LS Investment Advisors LLC increased its position in First Horizon National Corporation (NYSE:FHN) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,668 shares of the financial services provider’s stock after buying an additional 2,556 shares during the period. LS Investment Advisors LLC’s holdings in First Horizon National Corporation were worth $395,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FHN. BlackRock Inc. increased its position in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares during the last quarter. State Street Corp increased its position in shares of First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock worth $247,028,000 after buying an additional 2,358,324 shares in the last quarter. Parnassus Investments CA increased its position in shares of First Horizon National Corporation by 33.3% in the first quarter. Parnassus Investments CA now owns 5,000,000 shares of the financial services provider’s stock worth $92,500,000 after buying an additional 1,250,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of First Horizon National Corporation by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock worth $115,597,000 after buying an additional 1,132,844 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of First Horizon National Corporation by 38.9% in the first quarter. Schroder Investment Management Group now owns 3,991,543 shares of the financial services provider’s stock worth $75,320,000 after buying an additional 1,116,852 shares in the last quarter. 84.71% of the stock is owned by institutional investors.

Shares of First Horizon National Corporation (NYSE FHN) opened at 16.89 on Friday. The firm has a 50-day moving average of $17.55 and a 200-day moving average of $18.25. The company has a market capitalization of $3.95 billion, a P/E ratio of 15.22 and a beta of 1.06. First Horizon National Corporation has a one year low of $14.60 and a one year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The company had revenue of $328.37 million during the quarter, compared to the consensus estimate of $331.27 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that First Horizon National Corporation will post $1.10 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is currently 32.43%.

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A number of equities analysts have weighed in on FHN shares. Raymond James Financial, Inc. raised shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. ValuEngine upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Stephens restated a “hold” rating on shares of First Horizon National Corporation in a report on Thursday, May 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $20.00 target price on shares of First Horizon National Corporation in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.57.

In other news, Director Vicki R. Palmer sold 5,211 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the transaction, the director now owns 57,818 shares of the company’s stock, valued at approximately $1,020,487.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.09% of the company’s stock.

First Horizon National Corporation Company 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.

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

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