KCG Holdings Inc. Sells 30,697 Shares of First Horizon National Corporation (FHN)

KCG Holdings Inc. reduced its position in First Horizon National Corporation (NYSE:FHN) by 38.0% during the first quarter, Holdings Channel reports. The institutional investor owned 50,076 shares of the financial services provider’s stock after selling 30,697 shares during the period. KCG Holdings Inc.’s holdings in First Horizon National Corporation were worth $926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FHN. BlackRock Inc. raised its stake in shares of First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock worth $395,561,000 after buying an additional 20,980,798 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of First Horizon National Corporation by 81.2% in the first quarter. Renaissance Technologies LLC now owns 1,705,744 shares of the financial services provider’s stock worth $31,556,000 after buying an additional 764,163 shares in the last quarter. UBS Group AG raised its stake in shares of First Horizon National Corporation by 527.3% in the first quarter. UBS Group AG now owns 150,754 shares of the financial services provider’s stock worth $2,789,000 after buying an additional 126,723 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in shares of First Horizon National Corporation by 5.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 106,100 shares of the financial services provider’s stock worth $1,963,000 after buying an additional 5,392 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of First Horizon National Corporation by 10.9% in the first quarter. Geode Capital Management LLC now owns 1,821,681 shares of the financial services provider’s stock worth $33,701,000 after buying an additional 179,583 shares in the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Horizon National Corporation (FHN) opened at 17.08 on Wednesday. The stock has a market cap of $3.99 billion, a P/E ratio of 17.61 and a beta of 1.04. First Horizon National Corporation has a 12-month low of $12.46 and a 12-month high of $20.84. The company has a 50 day moving average price of $17.60 and a 200 day moving average price of $19.00.

First Horizon National Corporation (NYSE:FHN) last posted its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. First Horizon National Corporation had a return on equity of 8.89% and a net margin of 16.92%. The business had revenue of $306.65 million for the quarter, compared to analysts’ expectations of $324.31 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue was up .1% on a year-over-year basis. Analysts anticipate that First Horizon National Corporation will post $1.10 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, June 7th. First Horizon National Corporation’s dividend payout ratio (DPR) is 37.11%.

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A number of analysts have recently issued reports on the company. BidaskClub lowered First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. 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 price objective on shares of First Horizon National Corporation in a research report on Monday, June 12th. Stephens reiterated a “hold” rating on shares of First Horizon National Corporation in a research report on Thursday, May 4th. Finally, Barclays PLC reduced their price objective on First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.93.

In other news, Director Vicki R. Palmer sold 5,211 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total transaction of $91,974.15. Following the sale, the director now owns 57,818 shares in the company, valued at $1,020,487.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is owned by company insiders.

About First Horizon National Corporation

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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