First Horizon National Corporation (FHN) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its position in First Horizon National Corporation (NYSE:FHN) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,884,000 shares of the financial services provider’s stock after acquiring an additional 349,900 shares during the period. Franklin Resources Inc. owned approximately 2.51% of First Horizon National Corporation worth $102,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in First Horizon National Corporation by 5,232.8% in the first quarter. BlackRock Inc. now owns 21,381,745 shares of the financial services provider’s stock valued at $395,561,000 after acquiring an additional 20,980,798 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Horizon National Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 19,236,997 shares of the financial services provider’s stock valued at $355,884,000 after acquiring an additional 1,039,986 shares in the last quarter. State Street Corp boosted its stake in First Horizon National Corporation by 21.4% in the first quarter. State Street Corp now owns 13,353,169 shares of the financial services provider’s stock valued at $247,028,000 after acquiring an additional 2,358,324 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in First Horizon National Corporation by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock valued at $116,124,000 after acquiring an additional 258,298 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in First Horizon National Corporation by 5.1% in the second quarter. Victory Capital Management Inc. now owns 5,307,967 shares of the financial services provider’s stock valued at $92,465,000 after acquiring an additional 257,701 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

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First Horizon National Corporation (NYSE FHN) opened at 16.95 on Tuesday. The firm has a 50 day moving average of $17.29 and a 200-day moving average of $17.91. First Horizon National Corporation has a 12-month low of $14.60 and a 12-month high of $20.84. The stock has a market cap of $3.97 billion, a PE ratio of 15.27 and a beta of 1.04.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $328.37 million during the quarter, compared to analysts’ expectations of $331.27 million. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. First Horizon National Corporation’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, analysts expect that First Horizon National Corporation will post $1.10 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is currently 32.43%.

In related news, Director Vicki R. Palmer sold 5,211 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the sale, the director now owns 57,818 shares in the company, valued at approximately $1,020,487.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.09% of the stock is owned by corporate insiders.

Several equities research analysts have weighed in on FHN shares. BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 target price on shares of First Horizon National Corporation in a research note on Monday, June 12th. ValuEngine upgraded shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Deutsche Bank AG restated a “hold” rating on shares of First Horizon National Corporation in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $20.00 target price on shares of First Horizon National Corporation in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $19.57.

First Horizon National Corporation Company Profile

First Horizon National Corporation (FHN) is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company has four segments: regional banking, fixed income, corporate and non-strategic. The Company’s regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and other selected markets.

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

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