First Horizon National Corp (NYSE:FHN) Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its position in First Horizon National Corp (NYSE:FHN) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,469,619 shares of the financial services provider’s stock after buying an additional 53,872 shares during the period. Royal Bank of Canada owned approximately 0.47% of First Horizon National worth $21,941,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in First Horizon National by 45.1% in the 2nd quarter. First Trust Advisors LP now owns 2,740,880 shares of the financial services provider’s stock valued at $40,921,000 after acquiring an additional 852,162 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in First Horizon National by 3.8% during the second quarter. Gamco Investors INC. ET AL now owns 55,000 shares of the financial services provider’s stock worth $821,000 after buying an additional 2,000 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of First Horizon National by 22.5% in the first quarter. Pinnacle Associates Ltd. now owns 15,235 shares of the financial services provider’s stock valued at $213,000 after buying an additional 2,800 shares in the last quarter. CNA Financial Corp increased its holdings in shares of First Horizon National by 6.5% in the first quarter. CNA Financial Corp now owns 92,300 shares of the financial services provider’s stock valued at $1,290,000 after buying an additional 5,600 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of First Horizon National by 10.8% in the second quarter. Nisa Investment Advisors LLC now owns 82,342 shares of the financial services provider’s stock valued at $1,229,000 after buying an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.

Shares of First Horizon National stock traded down $0.11 on Friday, hitting $15.73. 39,976 shares of the company traded hands, compared to its average volume of 3,076,620. The company has a 50-day moving average price of $15.94 and a 200 day moving average price of $15.07. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. First Horizon National Corp has a 12-month low of $12.30 and a 12-month high of $17.80. The company has a market cap of $4.98 billion, a PE ratio of 11.12, a PEG ratio of 2.02 and a beta of 1.31.

First Horizon National (NYSE:FHN) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. First Horizon National had a net margin of 24.57% and a return on equity of 10.14%. The business had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $441.32 million. During the same period in the previous year, the company posted $0.36 EPS. First Horizon National’s revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that First Horizon National Corp will post 1.59 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, September 12th. First Horizon National’s dividend payout ratio is currently 39.72%.

In related news, EVP Yousef A. Valine sold 38,817 shares of First Horizon National stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.03, for a total value of $622,236.51. Following the completion of the sale, the executive vice president now owns 239,939 shares of the company’s stock, valued at approximately $3,846,222.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael E. Kisber sold 110,511 shares of First Horizon National stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $16.01, for a total transaction of $1,769,281.11. Following the completion of the sale, the insider now directly owns 422,227 shares of the company’s stock, valued at approximately $6,759,854.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,616 shares of company stock worth $4,409,979. 1.88% of the stock is currently owned by corporate insiders.

Several research firms have issued reports on FHN. Wells Fargo & Co upped their price target on First Horizon National from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group upgraded shares of First Horizon National from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Monday, August 5th. Raymond James upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research report on Thursday, August 29th. Zacks Investment Research upgraded shares of First Horizon National from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, July 19th. Finally, Piper Jaffray Companies began coverage on shares of First Horizon National in a research report on Wednesday, July 3rd. They set a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. First Horizon National currently has an average rating of “Hold” and a consensus target price of $18.19.

First Horizon National 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.

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

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