First Horizon National Corporation (FHN) Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in shares of First Horizon National Corporation (NYSE:FHN) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,665 shares of the financial services provider’s stock after selling 4,027 shares during the period. Alliancebernstein L.P. owned 0.06% of First Horizon National Corporation worth $2,625,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Horizon National Corporation by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 676 shares during the period. Tudor Investment Corp ET AL acquired a new stake in First Horizon National Corporation during the 1st quarter worth about $189,000. Greenwood Capital Associates LLC grew its holdings in First Horizon National Corporation by 7.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 757 shares during the period. United Capital Financial Advisers LLC grew its holdings in First Horizon National Corporation by 1.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 157 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in First Horizon National Corporation during the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.

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In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total value of $840,343.41. Following the sale, the chief financial officer now owns 275,497 shares in the company, valued at $5,132,509.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William C. Losch III sold 3,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the completion of the sale, the chief financial officer now owns 233,890 shares in the company, valued at approximately $4,329,303.90. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

A number of analysts have weighed in on FHN shares. J P Morgan Chase & Co reiterated a “buy” rating and set a $20.00 price target on shares of First Horizon National Corporation in a report on Wednesday, September 13th. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, September 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 price target on shares of First Horizon National Corporation in a report on Tuesday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $19.50 price target on shares of First Horizon National Corporation in a report on Wednesday, September 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $20.00 price target on shares of First Horizon National Corporation in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.44.

First Horizon National Corporation (FHN) opened at 18.81 on Friday. The stock’s 50 day moving average is $17.97 and its 200-day moving average is $17.78. First Horizon National Corporation has a 52-week low of $14.60 and a 52-week high of $20.84. The company has a market cap of $4.40 billion, a PE ratio of 16.95 and a beta of 1.05.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. First Horizon National Corporation had a net margin of 19.13% and a return on equity of 9.10%. The company had revenue of $328.37 million for the quarter, compared to analysts’ expectations of $331.27 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. First Horizon National Corporation’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that First Horizon National Corporation will post $1.10 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, September 7th. First Horizon National Corporation’s dividend payout ratio is currently 32.43%.

About First Horizon National Corporation

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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