First Horizon National Corp (FHN) Position Boosted by Silverleafe Capital Partners LLC
Silverleafe Capital Partners LLC boosted its position in shares of First Horizon National Corp (NYSE:FHN) by 3.5% in the 1st quarter, HoldingsChannel reports. The fund owned 126,408 shares of the financial services provider’s stock after purchasing an additional 4,304 shares during the period. First Horizon National makes up 1.0% of Silverleafe Capital Partners LLC’s holdings, making the stock its 26th largest holding. Silverleafe Capital Partners LLC’s holdings in First Horizon National were worth $1,767,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of FHN. Enlightenment Research LLC purchased a new position in First Horizon National during the fourth quarter valued at approximately $50,000. Toronto Dominion Bank purchased a new position in First Horizon National during the fourth quarter valued at approximately $73,000. ETF Managers Group LLC grew its stake in First Horizon National by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 942 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in First Horizon National during the fourth quarter valued at approximately $105,000. Finally, Advisor Group Inc. grew its stake in First Horizon National by 192.8% during the fourth quarter. Advisor Group Inc. now owns 9,492 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 6,250 shares in the last quarter. 90.38% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. TheStreet cut shares of First Horizon National from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. Jefferies Financial Group cut shares of First Horizon National from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Robert W. Baird assumed coverage on shares of First Horizon National in a research note on Thursday, December 20th. They issued a “neutral” rating for the company. Finally, Bank of America cut shares of First Horizon National from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. First Horizon National currently has an average rating of “Hold” and a consensus target price of $20.00.
First Horizon National (NYSE:FHN) last released its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The company had revenue of $412.80 million during the quarter, compared to analysts’ expectations of $443.30 million. During the same period in the prior year, the firm earned ($0.20) EPS. First Horizon National’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts expect that First Horizon National Corp will post 1.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.14 dividend. This is a boost from First Horizon National’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.91%. First Horizon National’s dividend payout ratio is 39.72%.
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First Horizon National 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.
Further Reading: What are Institutional Investors?
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