Frontier Capital Management Co. LLC Grows Stake in First Horizon National Corp (FHN)

Frontier Capital Management Co. LLC raised its holdings in shares of First Horizon National Corp (NYSE:FHN) by 0.7% in the first quarter, Holdings Channel reports. The institutional investor owned 5,341,531 shares of the financial services provider’s stock after acquiring an additional 35,817 shares during the period. Frontier Capital Management Co. LLC’s holdings in First Horizon National were worth $74,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in FHN. JPMorgan Chase & Co. boosted its stake in First Horizon National by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 7,152,621 shares of the financial services provider’s stock worth $123,455,000 after acquiring an additional 192,610 shares in the last quarter. Vanguard Group Inc boosted its stake in First Horizon National by 1.5% during the third quarter. Vanguard Group Inc now owns 30,152,044 shares of the financial services provider’s stock worth $520,425,000 after acquiring an additional 458,506 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in First Horizon National by 3.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 112,314 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 3,454 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in First Horizon National during the fourth quarter worth about $168,000. Finally, Bridge Creek Capital Management LLC raised its holdings in First Horizon National by 17.4% in the fourth quarter. Bridge Creek Capital Management LLC now owns 38,544 shares of the financial services provider’s stock worth $507,000 after buying an additional 5,700 shares during the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.

FHN stock opened at $14.24 on Friday. First Horizon National Corp has a 52 week low of $12.30 and a 52 week high of $19.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.93. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20.

First Horizon National (NYSE:FHN) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The business had revenue of $435.60 million during the quarter, compared to analyst estimates of $428.95 million. During the same quarter last year, the business earned $0.34 earnings per share. First Horizon National’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts anticipate that First Horizon National Corp will post 1.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, June 13th. First Horizon National’s dividend payout ratio is presently 39.72%.

In related news, EVP Susan L. Springfield sold 29,625 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $14.89, for a total value of $441,116.25. Following the transaction, the executive vice president now owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.88% of the company’s stock.

Several research analysts have issued reports on the stock. Stephens reaffirmed a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Jefferies Financial Group cut shares of First Horizon National from a “buy” rating to a “hold” rating in a report on Monday, April 1st. ValuEngine cut shares of First Horizon National from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Zacks Investment Research cut shares of First Horizon National from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, TheStreet raised shares of First Horizon National from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.00.

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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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