California Public Employees Retirement System lowered its position in First Horizon National Corporation (NYSE:FHN) by 4.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 673,839 shares of the financial services provider’s stock after selling 30,000 shares during the period. California Public Employees Retirement System’s holdings in First Horizon National Corporation were worth $10,263,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Citadel Advisors LLC boosted its position in First Horizon National Corporation by 110.3% in the second quarter. Citadel Advisors LLC now owns 5,415,762 shares of the financial services provider’s stock worth $74,630,000 after buying an additional 2,840,255 shares in the last quarter. Citigroup Inc. boosted its position in First Horizon National Corporation by 893.6% in the second quarter. Citigroup Inc. now owns 986,573 shares of the financial services provider’s stock worth $13,595,000 after buying an additional 887,280 shares in the last quarter. Vanguard Group Inc. boosted its position in First Horizon National Corporation by 4.1% in the second quarter. Vanguard Group Inc. now owns 17,259,984 shares of the financial services provider’s stock worth $237,842,000 after buying an additional 679,074 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in First Horizon National Corporation by 8.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,349,946 shares of the financial services provider’s stock worth $101,282,000 after buying an additional 576,009 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in First Horizon National Corporation during the second quarter worth $4,179,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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

Shares of First Horizon National Corporation (NYSE:FHN) opened at 19.89 on Friday. First Horizon National Corporation has a 52-week low of $11.51 and a 52-week high of $20.76. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 21.93 and a beta of 1.19. The firm has a 50-day moving average price of $19.97 and a 200-day moving average price of $16.40.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.02. First Horizon National Corporation had a net margin of 16.40% and a return on equity of 8.54%. The firm had revenue of $319.60 million for the quarter, compared to analysts’ expectations of $330.71 million. During the same period last year, the firm posted $0.21 EPS. First Horizon National Corporation’s revenue was up 6.9% on a year-over-year basis. Analysts predict that First Horizon National Corporation will post $0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, December 7th. First Horizon National Corporation’s dividend payout ratio (DPR) is presently 30.77%.

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A number of equities analysts have recently weighed in on FHN shares. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, October 4th. Deutsche Bank AG increased their price target on First Horizon National Corporation from $13.50 to $15.50 and gave the stock a “hold” rating in a report on Monday, September 26th. Jefferies Group upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating in a report on Monday, November 28th. Hovde Group lowered First Horizon National Corporation from an “outperform” rating to a “market perform” rating and set a $16.50 target price on the stock. in a research note on Monday, September 26th. Finally, Bank of America Corporation raised First Horizon National Corporation from an “underperform” rating to a “neutral” rating in a research note on Wednesday, December 21st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. First Horizon National Corporation has an average rating of “Hold” and an average price target of $17.22.

In other First Horizon National Corporation news, EVP John M. Daniel sold 42,531 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $16.00, for a total transaction of $680,496.00. Following the completion of the sale, the executive vice president now owns 272,586 shares of the company’s stock, valued at $4,361,376. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

First Horizon National Corporation Company Profile

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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