First Horizon National Sees Unusually High Options Volume (NYSE:FHN)

First Horizon National Corp (NYSE:FHN) was the recipient of some unusual options trading activity on Tuesday. Investors bought 5,156 call options on the company. This is an increase of 7,372% compared to the average volume of 69 call options.

FHN stock opened at $14.65 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. First Horizon National has a 12 month low of $12.30 and a 12 month high of $19.43.

First Horizon National (NYSE:FHN) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $435.60 million during the quarter, compared to the consensus estimate of $428.95 million. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities research analysts predict that First Horizon National will post 1.48 EPS for the current fiscal year.



The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, June 13th. First Horizon National’s dividend payout ratio is 39.72%.

In related news, EVP Susan L. Springfield sold 29,625 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $14.89, for a total transaction of $441,116.25. Following the transaction, the executive vice president now directly owns 161,006 shares of the company’s stock, valued at $2,397,379.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.88% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FHN. FMR LLC grew its position in First Horizon National by 35.6% in the fourth quarter. FMR LLC now owns 26,423,350 shares of the financial services provider’s stock worth $347,731,000 after acquiring an additional 6,941,161 shares in the last quarter. LSV Asset Management grew its position in First Horizon National by 346.9% in the first quarter. LSV Asset Management now owns 4,341,495 shares of the financial services provider’s stock worth $60,694,000 after acquiring an additional 3,369,995 shares in the last quarter. Norges Bank bought a new stake in First Horizon National in the fourth quarter worth approximately $37,696,000. EJF Capital LLC grew its position in First Horizon National by 46.2% in the fourth quarter. EJF Capital LLC now owns 5,347,700 shares of the financial services provider’s stock worth $70,376,000 after acquiring an additional 1,689,886 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in First Horizon National by 1,226.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,709,155 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,580,286 shares in the last quarter. 87.98% of the stock is owned by institutional investors.

A number of research analysts recently commented on FHN shares. Jefferies Financial Group downgraded shares of First Horizon National from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. TheStreet raised shares of First Horizon National from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Zacks Investment Research raised shares of First Horizon National from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. ValuEngine downgraded shares of First Horizon National from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. Finally, Stephens reaffirmed a “neutral” rating on shares of First Horizon National in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

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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.

See Also: Return on Investment (ROI)

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