BRC Investment Management LLC bought a new position in shares of First Horizon National Corporation (NYSE:FHN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 252,132 shares of the financial services provider’s stock, valued at approximately $3,840,000. BRC Investment Management LLC owned 0.11% of First Horizon National Corporation at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FHN. Carroll Financial Associates Inc. increased its position in First Horizon National Corporation by 1.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,000 shares of the financial services provider’s stock worth $106,000 after buying an additional 106 shares during the period. Sei Investments Co. increased its position in First Horizon National Corporation by 97.7% in the second quarter. Sei Investments Co. now owns 9,315 shares of the financial services provider’s stock worth $129,000 after buying an additional 4,603 shares during the period. Trexquant Investment LP acquired a new position in First Horizon National Corporation during the second quarter worth approximately $189,000. Loews Corp increased its position in First Horizon National Corporation by 2.2% in the second quarter. Loews Corp now owns 14,073 shares of the financial services provider’s stock worth $194,000 after buying an additional 300 shares during the period. Finally, LS Investment Advisors LLC increased its position in First Horizon National Corporation by 73.3% in the second quarter. LS Investment Advisors LLC now owns 14,107 shares of the financial services provider’s stock worth $194,000 after buying an additional 5,969 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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

First Horizon National Corporation (NYSE:FHN) traded down 1.78% during mid-day trading on Friday, reaching $19.91. 5,653,785 shares of the company’s stock traded hands. The stock has a market capitalization of $4.64 billion, a PE ratio of 21.95 and a beta of 1.19. First Horizon National Corporation has a 52 week low of $11.51 and a 52 week high of $20.76. The stock’s 50 day moving average is $19.97 and its 200-day moving average is $16.34.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business had revenue of $319.60 million for the quarter. First Horizon National Corporation had a return on equity of 8.54% and a net margin of 16.40%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities analysts anticipate that First Horizon National Corporation will post $0.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, December 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.38%. First Horizon National Corporation’s dividend payout ratio is presently 30.77%.

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A number of research firms have commented on FHN. Barclays PLC raised their target price on shares of First Horizon National Corporation from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 6th. Zacks Investment Research raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Monday, December 19th. J P Morgan Chase & Co raised shares of First Horizon National Corporation from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 5th. Wells Fargo & Company raised shares of First Horizon National Corporation from an “underperform” rating to a “market perform” rating in a research report on Monday. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $16.00 price objective on shares of First Horizon National Corporation in a research report on Wednesday, October 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. First Horizon National Corporation currently has an average rating of “Hold” and an average target price of $17.22.

In other news, EVP John M. Daniel sold 42,531 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $16.00, for a total transaction of $680,496.00. Following the sale, the executive vice president now owns 272,586 shares of the company’s stock, valued at $4,361,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

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.

5 Day Chart for NYSE:FHN

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