First Horizon National Corp (FHN) Position Decreased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lessened its holdings in First Horizon National Corp (NYSE:FHN) by 81.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,757 shares of the financial services provider’s stock after selling 72,505 shares during the period. BNP Paribas Arbitrage SA’s holdings in First Horizon National were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in First Horizon National by 4.8% in the 4th quarter. Private Advisor Group LLC now owns 20,197 shares of the financial services provider’s stock worth $266,000 after buying an additional 921 shares during the last quarter. ETF Managers Group LLC boosted its holdings in First Horizon National by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock worth $91,000 after buying an additional 942 shares during the last quarter. Pennsylvania Trust Co boosted its holdings in First Horizon National by 0.7% in the 1st quarter. Pennsylvania Trust Co now owns 140,500 shares of the financial services provider’s stock worth $1,964,000 after buying an additional 1,000 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in First Horizon National by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,875 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 1,006 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in First Horizon National by 2.2% in the 4th quarter. Virginia Retirement Systems ET AL now owns 55,200 shares of the financial services provider’s stock worth $726,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

In other news, EVP Susan L. Springfield sold 29,625 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $14.89, for a total transaction of $441,116.25. Following the transaction, the executive vice president now directly owns 161,006 shares in the company, valued at approximately $2,397,379.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Several research firms recently issued reports on FHN. Zacks Investment Research cut First Horizon National from a “hold” rating to a “sell” rating in a report on Friday, March 8th. TheStreet upgraded First Horizon National from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Jefferies Financial Group cut First Horizon National from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Stephens reiterated a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Finally, ValuEngine cut First Horizon National from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. First Horizon National presently has an average rating of “Hold” and an average target price of $20.00.

Shares of First Horizon National stock opened at $14.01 on Friday. The company has a market cap of $4.42 billion, a PE ratio of 9.94, a P/E/G ratio of 1.53 and a beta of 1.20. First Horizon National Corp has a 1-year low of $12.30 and a 1-year high of $19.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.95.

First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $435.60 million for the quarter, compared to analysts’ expectations of $428.95 million. First Horizon National had a return on equity of 10.02% and a net margin of 23.95%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts expect that First Horizon National Corp will post 1.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, June 13th. First Horizon National’s dividend payout ratio is currently 39.72%.

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About First Horizon National

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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