First Horizon National Corporation (FHN) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of First Horizon National Corporation (NYSE:FHN) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,672,261 shares of the financial services provider’s stock after purchasing an additional 435,264 shares during the quarter. Vanguard Group Inc. owned approximately 8.40% of First Horizon National Corporation worth $342,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in First Horizon National Corporation by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 676 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in First Horizon National Corporation during the first quarter worth approximately $189,000. Greenwood Capital Associates LLC raised its holdings in First Horizon National Corporation by 7.3% during the second quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 757 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in First Horizon National Corporation by 1.3% during the first quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 157 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in First Horizon National Corporation during the first quarter worth approximately $225,000. 85.05% of the stock is currently owned by institutional investors.

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In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total value of $840,343.41. Following the sale, the chief financial officer now directly owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William C. Losch III sold 3,500 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the sale, the chief financial officer now directly owns 233,890 shares in the company, valued at $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

FHN has been the topic of a number of research analyst reports. BidaskClub cut shares of First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Deutsche Bank AG reissued a “hold” rating on shares of First Horizon National Corporation in a report on Monday, July 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $20.00 price objective on shares of First Horizon National Corporation in a report on Friday, July 7th. Hovde Group cut their target price on shares of First Horizon National Corporation from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, July 10th. Finally, Zacks Investment Research cut shares of First Horizon National Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.80.

Shares of First Horizon National Corporation (NYSE:FHN) traded up 0.079% during trading on Wednesday, reaching $18.965. 548,720 shares of the company’s stock traded hands. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.086 and a beta of 1.05. The company has a 50 day moving average of $18.04 and a 200-day moving average of $17.78. First Horizon National Corporation has a 1-year low of $14.60 and a 1-year high of $20.84.

First Horizon National Corporation (NYSE:FHN) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. First Horizon National Corporation had a return on equity of 9.40% and a net margin of 19.36%. The firm had revenue of $337.00 million for the quarter, compared to analyst estimates of $340.48 million. During the same period last year, the company earned $0.27 earnings per share. Equities analysts predict that First Horizon National Corporation will post $1.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is presently 32.14%.

About First Horizon National Corporation

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.

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

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