Nordea Investment Management AB grew its stake in First Horizon National Corporation (NYSE:FHN) by 35.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,875 shares of the financial services provider’s stock after purchasing an additional 28,258 shares during the period. Nordea Investment Management AB’s holdings in First Horizon National Corporation were worth $1,862,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Horizon National Corporation by 8.7% in the 2nd 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 purchased a new stake in First Horizon National Corporation in the 1st quarter worth approximately $189,000. Greenwood Capital Associates LLC boosted its position in First Horizon National Corporation by 7.3% in the 2nd 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 boosted its position in First Horizon National Corporation by 1.3% in the 1st 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. purchased a new stake in First Horizon National Corporation in the 1st quarter worth approximately $225,000. Institutional investors and hedge funds own 85.05% of the company’s stock.

First Horizon National Corporation (NYSE:FHN) opened at 19.26 on Friday. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84. The stock’s 50 day moving average price is $17.66 and its 200-day moving average price is $17.75. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 17.35 and a beta of 1.05.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a return on equity of 9.10% and a net margin of 19.13%. The firm had revenue of $328.37 million for the quarter, compared to the consensus estimate of $331.27 million. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts predict that First Horizon National Corporation will post $1.10 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.87%. First Horizon National Corporation’s payout ratio is 32.43%.

In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $18.63, for a total transaction of $840,343.41. Following the sale, the chief financial officer now directly owns 275,497 shares in the company, valued at $5,132,509.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William C. Losch III sold 3,500 shares of the business’s 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 sale, the chief financial officer now 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 currently owned by insiders.

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A number of research analysts have recently issued reports on FHN shares. ValuEngine upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 target price on shares of First Horizon National Corporation in a research report on Monday, June 12th. J P Morgan Chase & Co reiterated a “buy” rating and set a $20.00 target price on shares of First Horizon National Corporation in a research report on Wednesday, September 13th. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, September 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.50 target price on shares of First Horizon National Corporation in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.44.

First Horizon National Corporation 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.

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

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