First Horizon National Corporation (FHN) Stake Lowered by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of First Horizon National Corporation (NYSE:FHN) by 59.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,887 shares of the financial services provider’s stock after selling 65,666 shares during the period. SG Americas Securities LLC’s holdings in First Horizon National were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Horizon National by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 676 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in First Horizon National by 7.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 757 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in First Horizon National by 2.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 286 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in First Horizon National by 63.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 5,183 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in First Horizon National by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 13,800 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 89.03% of the company’s stock.

A number of research firms have weighed in on FHN. UBS raised First Horizon National from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Raymond James Financial raised First Horizon National from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. BidaskClub raised First Horizon National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. ValuEngine lowered First Horizon National from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $20.00 price objective on shares of First Horizon National in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.50.

In related news, CFO William C. Losch III sold 45,107 shares of the company’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 transaction of $840,343.41. Following the completion of the transaction, the chief financial officer now owns 275,497 shares in the company, valued at $5,132,509.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William C. Losch III sold 3,500 shares of the company’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 transaction, the chief financial officer now owns 233,890 shares of the company’s stock, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. Insiders sold 54,056 shares of company stock valued at $1,010,022 in the last quarter. Corporate insiders own 2.09% of the company’s stock.

First Horizon National Corporation (FHN) traded up $0.41 during trading hours on Tuesday, reaching $20.27. The company had a trading volume of 24,031,600 shares, compared to its average volume of 622,752. The company has a market cap of $4,651.82, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.56 and a beta of 1.03. First Horizon National Corporation has a one year low of $18.68 and a one year high of $45.00. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. The firm had revenue of $337.00 million during the quarter, compared to the consensus estimate of $340.48 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. research analysts anticipate that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be given a $0.09 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.78%. First Horizon National’s payout ratio is currently 32.14%.

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About First Horizon National

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 (NYSE:FHN)

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