Pennsylvania Trust Co boosted its stake in shares of First Horizon National Corp (NYSE:FHN) by 123.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,500 shares of the financial services provider’s stock after acquiring an additional 52,300 shares during the period. Pennsylvania Trust Co’s holdings in First Horizon National were worth $1,631,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC acquired a new stake in shares of First Horizon National in the 2nd quarter valued at $205,000. AT Bancorp acquired a new stake in shares of First Horizon National in the 2nd quarter valued at $2,267,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of First Horizon National in the 2nd quarter valued at $4,460,000. Brown Advisory Inc. boosted its holdings in shares of First Horizon National by 117.2% in the 2nd quarter. Brown Advisory Inc. now owns 65,240 shares of the financial services provider’s stock valued at $1,164,000 after purchasing an additional 35,197 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of First Horizon National by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 227,164 shares of the financial services provider’s stock valued at $4,053,000 after purchasing an additional 6,030 shares in the last quarter. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FHN opened at $16.93 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.91 and a current ratio of 0.93. First Horizon National Corp has a twelve month low of $16.51 and a twelve month high of $20.86. The firm has a market cap of $5.61 billion, a P/E ratio of 15.25, a PEG ratio of 1.04 and a beta of 0.87.

First Horizon National (NYSE:FHN) last released its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. First Horizon National had a return on equity of 9.64% and a net margin of 10.74%. The company had revenue of $438.46 million for the quarter, compared to the consensus estimate of $447.95 million. On average, analysts forecast that First Horizon National Corp will post 1.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, September 6th. First Horizon National’s dividend payout ratio (DPR) is 43.24%.

In other news, Director Mark A. Emkes acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were bought at an average price of $17.68 per share, with a total value of $88,400.00. Following the acquisition, the director now directly owns 57,996 shares in the company, valued at approximately $1,025,369.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott M. Niswonger acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were purchased at an average cost of $18.20 per share, for a total transaction of $1,820,000.00. Following the acquisition, the director now owns 639,403 shares in the company, valued at $11,637,134.60. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 130,000 shares of company stock worth $2,352,400. 1.75% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on FHN shares. Zacks Investment Research downgraded First Horizon National from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. ValuEngine raised First Horizon National from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Royal Bank of Canada reduced their target price on First Horizon National from $21.00 to $19.00 and set a “$17.03” rating on the stock in a report on Wednesday, July 18th. Keefe, Bruyette & Woods reduced their target price on First Horizon National from $23.00 to $22.00 and set a “$17.03” rating on the stock in a report on Wednesday, July 18th. Finally, SunTrust Banks reduced their target price on First Horizon National to $20.00 and set a “$17.03” rating on the stock in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $20.82.

First Horizon National Company 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.

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

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