Kiwi Wealth Investments Limited Partnership Purchases Shares of 385,828 First Horizon National Corp (FHN)

Kiwi Wealth Investments Limited Partnership purchased a new position in shares of First Horizon National Corp (NYSE:FHN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 385,828 shares of the financial services provider’s stock, valued at approximately $7,265,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Hill Capital Management LLC acquired a new position in First Horizon National during the fourth quarter worth approximately $107,835,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Horizon National by 54.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,361 shares of the financial services provider’s stock worth $287,000 after buying an additional 5,073 shares during the last quarter. First Interstate Bank acquired a new position in First Horizon National during the fourth quarter worth approximately $103,000. New Mexico Educational Retirement Board acquired a new position in First Horizon National during the fourth quarter worth approximately $1,600,000. Finally, Amundi Pioneer Asset Management Inc. increased its position in First Horizon National by 2.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,733,922 shares of the financial services provider’s stock worth $34,661,000 after buying an additional 33,639 shares during the last quarter. 82.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on FHN. Piper Jaffray Companies began coverage on First Horizon National in a research report on Monday, April 9th. They set an “overweight” rating and a $22.00 price target on the stock. FIG Partners raised First Horizon National from a “market perform” rating to an “outperform” rating in a research report on Monday, April 16th. Hovde Group set a $21.00 price target on First Horizon National and gave the stock a “hold” rating in a research report on Monday, April 16th. Wells Fargo & Co raised First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Thursday, April 5th. Finally, UBS Group initiated coverage on First Horizon National in a research report on Thursday, March 22nd. They issued a “buy” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. First Horizon National has a consensus rating of “Buy” and an average target price of $22.17.

First Horizon National stock opened at $19.05 on Thursday. First Horizon National Corp has a 12 month low of $15.84 and a 12 month high of $20.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market capitalization of $6.25 billion, a PE ratio of 17.19, a PEG ratio of 1.86 and a beta of 0.98.

First Horizon National (NYSE:FHN) last posted its earnings results on Friday, April 13th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $437.20 million for the quarter, compared to the consensus estimate of $438.60 million. First Horizon National had a return on equity of 9.37% and a net margin of 12.30%. The firm’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. analysts anticipate that First Horizon National Corp will post 1.47 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Thursday, June 7th. First Horizon National’s dividend payout ratio is currently 43.24%.

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

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