Sciencast Management LP Purchases Shares of 46,239 First Horizon National Corp (NYSE:FHN)

Sciencast Management LP bought a new stake in First Horizon National Corp (NYSE:FHN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 46,239 shares of the financial services provider’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP purchased a new stake in First Horizon National in the first quarter valued at $25,000. Sandy Spring Bank purchased a new stake in shares of First Horizon National in the 1st quarter valued at about $32,000. Cerebellum GP LLC purchased a new stake in shares of First Horizon National in the 2nd quarter valued at about $124,000. NuWave Investment Management LLC purchased a new position in First Horizon National during the 2nd quarter worth approximately $71,000. Finally, Sigma Planning Corp acquired a new position in First Horizon National during the first quarter worth approximately $82,000. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FHN stock opened at $9.27 on Friday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 9.97 and a beta of 1.60. The stock has a 50 day simple moving average of $9.51 and a 200-day simple moving average of $10.99. First Horizon National Corp has a 12-month low of $6.27 and a 12-month high of $17.42. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.41.

First Horizon National (NYSE:FHN) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.01). The business had revenue of $511.61 million during the quarter, compared to analysts’ expectations of $477.52 million. First Horizon National had a net margin of 13.06% and a return on equity of 7.45%. During the same quarter last year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that First Horizon National Corp will post 0.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.60 annualized dividend and a dividend yield of 6.47%. First Horizon National’s payout ratio is currently 36.14%.

FHN has been the topic of a number of research reports. Wells Fargo & Co raised their target price on shares of First Horizon National from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. UBS Group lifted their price objective on shares of First Horizon National from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, May 15th. ValuEngine upgraded shares of First Horizon National from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Zacks Investment Research cut First Horizon National from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Monday, July 6th. Finally, SunTrust Banks reduced their price objective on First Horizon National from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $12.64.

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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