Peregrine Capital Management LLC Raises Stock Holdings in First Horizon National Corp (NYSE:FHN)

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Peregrine Capital Management LLC boosted its stake in First Horizon National Corp (NYSE:FHN) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 551,403 shares of the financial services provider’s stock after buying an additional 8,097 shares during the period. Peregrine Capital Management LLC owned approximately 0.18% of First Horizon National worth $5,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Twin Tree Management LP purchased a new stake in First Horizon National in the 1st quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in First Horizon National in the 1st quarter valued at about $32,000. Cerebellum GP LLC purchased a new stake in First Horizon National in the 2nd quarter valued at about $124,000. NuWave Investment Management LLC purchased a new stake in First Horizon National in the 2nd quarter valued at about $71,000. Finally, Sigma Planning Corp acquired a new position in First Horizon National in the 1st quarter valued at about $82,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Shares of First Horizon National stock opened at $9.27 on Friday. First Horizon National Corp has a one year low of $6.27 and a one year high of $17.42. The company has a market cap of $2.89 billion, a PE ratio of 9.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 0.95. The business has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $10.99.

First Horizon National (NYSE:FHN) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.01). The business had revenue of $511.61 million during the quarter, compared to analyst estimates of $477.52 million. First Horizon National had a net margin of 13.06% and a return on equity of 7.45%. During the same period last year, the company earned $0.42 earnings per share. On average, sell-side analysts predict that First Horizon National Corp will post 0.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Thursday, September 10th. First Horizon National’s dividend payout ratio (DPR) is 36.14%.

Several research firms have weighed in on FHN. SunTrust Banks dropped their target price on First Horizon National from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Raymond James dropped their target price on First Horizon National from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $10.00 target price on shares of First Horizon National in a research report on Monday, July 20th. Evercore ISI raised First Horizon National from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $11.00 in a research report on Monday, July 20th. Finally, UBS Group lifted their target price on First Horizon National from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.64.

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.

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

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