First Horizon National Corp (NYSE:FHN) Shares Sold by EJF Capital LLC

Share on StockTwits

EJF Capital LLC trimmed its stake in First Horizon National Corp (NYSE:FHN) by 33.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,705,565 shares of the financial services provider’s stock after selling 1,367,135 shares during the quarter. First Horizon National comprises about 5.0% of EJF Capital LLC’s holdings, making the stock its 4th biggest position. EJF Capital LLC owned 0.87% of First Horizon National worth $40,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in shares of First Horizon National by 443.0% in the first quarter. First Trust Advisors LP now owns 1,888,718 shares of the financial services provider’s stock valued at $26,404,000 after buying an additional 1,540,914 shares in the last quarter. Carlson Capital L P bought a new position in shares of First Horizon National in the second quarter valued at $17,714,000. BlackRock Inc. lifted its stake in shares of First Horizon National by 2.1% in the second quarter. BlackRock Inc. now owns 29,968,737 shares of the financial services provider’s stock valued at $447,432,000 after buying an additional 616,168 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Horizon National by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,449,014 shares of the financial services provider’s stock valued at $71,708,000 after buying an additional 428,555 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of First Horizon National by 10.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,896,830 shares of the financial services provider’s stock valued at $54,477,000 after buying an additional 381,537 shares in the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.

Shares of FHN traded up $0.05 during midday trading on Thursday, hitting $16.41. 39,554 shares of the company traded hands, compared to its average volume of 2,815,697. The stock has a 50-day moving average of $15.85 and a 200-day moving average of $14.98. First Horizon National Corp has a one year low of $12.30 and a one year high of $18.43. The firm has a market cap of $5.07 billion, a P/E ratio of 11.63, a PEG ratio of 2.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.94.

First Horizon National (NYSE:FHN) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. First Horizon National had a return on equity of 10.14% and a net margin of 24.57%. The firm had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $441.32 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that First Horizon National Corp will post 1.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Thursday, September 12th. First Horizon National’s payout ratio is 39.72%.

A number of research analysts recently weighed in on FHN shares. ValuEngine raised shares of First Horizon National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 29th. Piper Jaffray Companies began coverage on shares of First Horizon National in a research report on Wednesday, July 3rd. They set a “buy” rating and a $18.00 price target on the stock. Bank of America raised shares of First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research report on Tuesday, July 16th. UBS Group raised shares of First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Monday, August 5th. Finally, Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.31.

In other news, insider Michael E. Kisber sold 110,511 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $16.01, for a total transaction of $1,769,281.11. Following the completion of the sale, the insider now owns 422,227 shares of the company’s stock, valued at $6,759,854.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William C. Losch III sold 62,846 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $16.00, for a total value of $1,005,536.00. Following the sale, the chief financial officer now directly owns 325,901 shares of the company’s stock, valued at approximately $5,214,416. The disclosure for this sale can be found here. Insiders have sold 275,616 shares of company stock valued at $4,409,979 in the last three months. 1.88% of the stock is owned by insiders.

First Horizon National Company 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.

Featured Article: How to Invest in a Bull Market

Want to see what other hedge funds are holding FHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Horizon National Corp (NYSE:FHN).

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

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.