Standard Life Aberdeen plc purchased a new position in First Horizon National Corp (NYSE:FHN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 198,939 shares of the financial services provider’s stock, valued at approximately $3,548,000. Standard Life Aberdeen plc owned about 0.06% of First Horizon National at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Capital Advantage Inc. acquired a new stake in shares of First Horizon National in the second quarter worth about $100,000. First Mercantile Trust Co. lifted its position in shares of First Horizon National by 91.8% in the first quarter. First Mercantile Trust Co. now owns 7,615 shares of the financial services provider’s stock worth $143,000 after buying an additional 3,644 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of First Horizon National in the first quarter worth about $177,000. Signition LP acquired a new stake in shares of First Horizon National in the second quarter worth about $180,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of First Horizon National in the second quarter worth about $187,000. 84.29% of the stock is owned by institutional investors.
First Horizon National stock opened at $18.29 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $6.03 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.85. First Horizon National Corp has a 52 week low of $15.84 and a 52 week high of $20.86.
First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $438.46 million for the quarter, compared to analyst estimates of $447.95 million. First Horizon National had a return on equity of 9.64% and a net margin of 10.74%. analysts anticipate that First Horizon National Corp will post 1.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a $0.12 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.62%. First Horizon National’s payout ratio is presently 43.24%.
A number of brokerages have weighed in on FHN. Zacks Investment Research cut First Horizon National from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. ValuEngine raised First Horizon National from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Morgan Stanley reduced their price target on First Horizon National from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. SunTrust Banks reduced their price target on First Horizon National to $20.00 and set a “$17.03” rating for the company in a research report on Wednesday, July 18th. Finally, Stephens reaffirmed a “$17.03” rating and issued a $18.50 price target on shares of First Horizon National in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. First Horizon National has a consensus rating of “Buy” and a consensus target price of $20.83.
In other First Horizon National news, Director Scott M. Niswonger acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were acquired at an average cost of $18.20 per share, for a total transaction of $1,820,000.00. Following the completion of the purchase, the director now owns 639,403 shares of the company’s stock, valued at approximately $11,637,134.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman D Bryan Jordan acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was acquired at an average price of $17.76 per share, for a total transaction of $444,000.00. Following the completion of the purchase, the chairman now directly owns 611,832 shares of the company’s stock, valued at approximately $10,866,136.32. The disclosure for this purchase can be found here. Insiders bought 130,000 shares of company stock worth $2,352,400 over the last quarter. 1.75% of the stock is currently owned by corporate insiders.
About First Horizon National
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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