Jarislowsky Fraser Ltd Sells 7,699 Shares of First Horizon National Corporation (FHN)

Jarislowsky Fraser Ltd cut its position in shares of First Horizon National Corporation (NYSE:FHN) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,398 shares of the financial services provider’s stock after selling 7,699 shares during the quarter. Jarislowsky Fraser Ltd’s holdings in First Horizon National Corporation were worth $1,539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FHN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Horizon National Corporation by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after buying an additional 676 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of First Horizon National Corporation during the first quarter worth about $189,000. Greenwood Capital Associates LLC grew its holdings in shares of First Horizon National Corporation by 7.3% during the second quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after buying an additional 757 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of First Horizon National Corporation by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after buying an additional 286 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of First Horizon National Corporation by 63.2% during the second quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock worth $233,000 after buying an additional 5,183 shares in the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.

Shares of First Horizon National Corporation (FHN) opened at $18.34 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National Corporation has a 12-month low of $15.84 and a 12-month high of $20.84. The stock has a market cap of $4,227.86, a P/E ratio of 17.19, a P/E/G ratio of 2.33 and a beta of 1.02.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $340.48 million. First Horizon National Corporation had a net margin of 19.36% and a return on equity of 9.40%. During the same period in the previous year, the company posted $0.27 earnings per share. analysts anticipate that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.96%. First Horizon National Corporation’s dividend payout ratio (DPR) is 32.14%.

FHN has been the subject of a number of recent research reports. Hovde Group lifted their price target on shares of First Horizon National Corporation from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Raymond James Financial, Inc. upgraded shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, September 18th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 price target on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. First Horizon National Corporation currently has an average rating of “Hold” and an average target price of $20.22.

In other First Horizon National Corporation news, CFO William C. Losch III sold 3,500 shares of First Horizon National Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $18.51, for a total transaction of $64,785.00. Following the transaction, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director R Brad Martin sold 5,449 shares of First Horizon National Corporation stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $19.25, for a total transaction of $104,893.25. Following the transaction, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,056 shares of company stock worth $1,010,022. 2.09% of the stock is currently owned by corporate insiders.

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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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