First Horizon National Corp (FHN) Shares Bought by ING Groep NV

ING Groep NV increased its stake in shares of First Horizon National Corp (NYSE:FHN) by 100.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,577 shares of the financial services provider’s stock after buying an additional 20,301 shares during the period. ING Groep NV’s holdings in First Horizon National were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Novare Capital Management LLC purchased a new stake in First Horizon National during the fourth quarter worth about $1,002,000. Maltese Capital Management LLC boosted its holdings in First Horizon National by 68.6% during the fourth quarter. Maltese Capital Management LLC now owns 581,698 shares of the financial services provider’s stock worth $11,628,000 after buying an additional 236,698 shares in the last quarter. Truepoint Inc. purchased a new stake in First Horizon National during the fourth quarter worth about $213,000. Parnassus Investments CA boosted its holdings in First Horizon National by 16.8% during the fourth quarter. Parnassus Investments CA now owns 6,606,499 shares of the financial services provider’s stock worth $132,064,000 after buying an additional 951,931 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in First Horizon National by 7.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 53,413 shares of the financial services provider’s stock worth $1,068,000 after buying an additional 3,735 shares in the last quarter. 64.88% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon National Corp (NYSE FHN) opened at $19.59 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.92 and a quick ratio of 0.90. The firm has a market cap of $6,227.59, a P/E ratio of 17.02, a PEG ratio of 1.92 and a beta of 0.98. First Horizon National Corp has a 52-week low of $15.84 and a 52-week high of $20.86.

First Horizon National (NYSE:FHN) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $375.30 million during the quarter, compared to analyst estimates of $368.93 million. First Horizon National had a net margin of 11.18% and a return on equity of 8.80%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. analysts forecast that First Horizon National Corp will post 1.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from First Horizon National’s previous quarterly dividend of $0.09. First Horizon National’s payout ratio is currently 52.17%.

First Horizon National declared that its board has authorized a share repurchase plan on Tuesday, January 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of brokerages have issued reports on FHN. UBS Group upgraded shares of First Horizon National from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 8th. Raymond James Financial upgraded shares of First Horizon National from an “outperform” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research report on Wednesday, November 8th. Barclays restated an “equal weight” rating and set a $21.00 target price on shares of First Horizon National in a research report on Monday, December 4th. Royal Bank of Canada restated a “hold” rating and set a $22.00 target price on shares of First Horizon National in a research report on Tuesday, December 5th. Finally, Morgan Stanley lifted their target price on shares of First Horizon National from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.11.

In other news, Director Peter N. Foss sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $20.32, for a total value of $609,600.00. Following the completion of the transaction, the director now owns 56,220 shares of the company’s stock, valued at $1,142,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.09% of the company’s stock.

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First Horizon National 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 (NYSE:FHN)

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