Mason Street Advisors LLC trimmed its position in shares of First Horizon National Corp (NYSE:FHN) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 163,870 shares of the financial services provider’s stock after selling 4,223 shares during the quarter. Mason Street Advisors LLC’s holdings in First Horizon National were worth $2,655,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. NEXT Financial Group Inc acquired a new position in First Horizon National during the second quarter worth about $30,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of First Horizon National in the second quarter valued at about $38,000. Quest Capital Management Inc. ADV purchased a new stake in shares of First Horizon National in the third quarter valued at about $42,000. Signaturefd LLC lifted its holdings in shares of First Horizon National by 63.8% in the second quarter. Signaturefd LLC now owns 2,761 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of First Horizon National by 283.1% in the second quarter. Parallel Advisors LLC now owns 3,479 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 2,571 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.
In related news, EVP Yousef A. Valine sold 28,249 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.12, for a total transaction of $483,622.88. Following the completion of the transaction, the executive vice president now owns 229,371 shares of the company’s stock, valued at $3,926,831.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.88% of the company’s stock.
First Horizon National (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $472.40 million for the quarter, compared to the consensus estimate of $466.10 million. First Horizon National had a net margin of 19.09% and a return on equity of 10.34%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Research analysts forecast that First Horizon National Corp will post 1.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, December 12th. First Horizon National’s payout ratio is 39.72%.
Several brokerages have issued reports on FHN. Zacks Investment Research raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, July 19th. Bank of America raised shares of First Horizon National from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, November 5th. Wells Fargo & Co upped their price objective on shares of First Horizon National from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods downgraded shares of First Horizon National from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $17.00 to $17.50 in a research note on Wednesday, October 16th. Finally, UBS Group raised shares of First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.31.
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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