GSA Capital Partners LLP Invests $421,000 in First Horizon National Corporation (FHN)

GSA Capital Partners LLP bought a new position in shares of First Horizon National Corporation (NYSE:FHN) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 24,184 shares of the financial services provider’s stock, valued at approximately $421,000.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Horizon National Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 676 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of First Horizon National Corporation during the 1st quarter worth about $189,000. Greenwood Capital Associates LLC grew its holdings in shares of First Horizon National Corporation by 7.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 757 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of First Horizon National Corporation by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 286 shares during the period. Finally, United Capital Financial Advisers LLC grew its holdings in shares of First Horizon National Corporation by 1.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.

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First Horizon National Corporation (FHN) opened at 18.81 on Friday. The stock has a market cap of $4.40 billion, a PE ratio of 16.95 and a beta of 1.05. First Horizon National Corporation has a 12-month low of $14.60 and a 12-month high of $20.84. The firm has a 50-day moving average price of $17.97 and a 200-day moving average price of $17.78.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s payout ratio is 32.43%.

In related news, CFO William C. Losch III sold 45,107 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the transaction, the chief financial officer now directly owns 275,497 shares of the company’s stock, valued at approximately $5,132,509.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William C. Losch III sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the transaction, the chief financial officer now directly owns 233,890 shares in the company, valued at $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded First Horizon National Corporation from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price (up previously from $19.50) on shares of First Horizon National Corporation in a report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 price target on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. J P Morgan Chase & Co restated a “buy” rating and issued a $20.00 price target on shares of First Horizon National Corporation in a report on Wednesday, September 13th. Finally, ValuEngine cut First Horizon National Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. First Horizon National Corporation has a consensus rating of “Hold” and an average price target of $19.44.

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.

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

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