First Horizon National Corporation (FHN) Stake Increased by Comerica Bank

Comerica Bank increased its position in First Horizon National Corporation (NYSE:FHN) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 337,427 shares of the financial services provider’s stock after buying an additional 2,037 shares during the period. Comerica Bank’s holdings in First Horizon National Corporation were worth $6,711,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of First Horizon National Corporation by 5.6% in the third quarter. BlackRock Fund Advisors now owns 9,057,078 shares of the financial services provider’s stock worth $137,939,000 after buying an additional 479,504 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of First Horizon National Corporation by 21.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,895,097 shares of the financial services provider’s stock worth $135,472,000 after buying an additional 1,545,151 shares during the period. Victory Capital Management Inc. boosted its stake in shares of First Horizon National Corporation by 123.1% in the third quarter. Victory Capital Management Inc. now owns 5,721,506 shares of the financial services provider’s stock worth $87,139,000 after buying an additional 3,157,460 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of First Horizon National Corporation by 7.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,571,230 shares of the financial services provider’s stock worth $91,470,000 after buying an additional 303,799 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of First Horizon National Corporation by 2.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,653,095 shares of the financial services provider’s stock worth $55,637,000 after buying an additional 101,440 shares during the period. Hedge funds and other institutional investors own 81.70% of the company’s stock.

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

Shares of First Horizon National Corporation (NYSE:FHN) traded up 1.26% on Tuesday, hitting $20.14. The stock had a trading volume of 663,095 shares. The stock has a 50 day moving average price of $19.97 and a 200-day moving average price of $17.26. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 21.43 and a beta of 1.17. First Horizon National Corporation has a 12-month low of $11.66 and a 12-month high of $20.84.

First Horizon National Corporation (NYSE:FHN) last released its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.02. The firm earned $319.60 million during the quarter, compared to analyst estimates of $330.89 million. First Horizon National Corporation had a return on equity of 8.73% and a net margin of 16.57%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities analysts expect that First Horizon National Corporation will post $1.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from First Horizon National Corporation’s previous quarterly dividend of $0.07. First Horizon National Corporation’s dividend payout ratio is currently 29.79%.

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A number of equities research analysts recently weighed in on FHN shares. Bank of America Corporation upgraded First Horizon National Corporation from an “underperform” rating to a “neutral” rating in a research note on Wednesday, December 21st. Jefferies Group LLC restated a “hold” rating and set a $16.00 price objective on shares of First Horizon National Corporation in a research note on Wednesday, October 19th. J P Morgan Chase & Co upgraded First Horizon National Corporation from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 5th. Barclays PLC upped their price objective on First Horizon National Corporation from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 6th. Finally, JMP Securities started coverage on First Horizon National Corporation in a research note on Thursday, February 2nd. They set a “market perform” rating for the company. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.71.

In related news, EVP John M. Daniel sold 28,987 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $19.96, for a total value of $578,580.52. Following the sale, the executive vice president now owns 259,042 shares in the company, valued at approximately $5,170,478.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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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