HRT Financial LLC Takes $533,000 Position in First Horizon National Corp (FHN)

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HRT Financial LLC acquired a new position in shares of First Horizon National Corp (NYSE:FHN) during the 3rd quarter, Holdings Channel reports. The fund acquired 30,891 shares of the financial services provider’s stock, valued at approximately $533,000.

A number of other large investors have also bought and sold shares of FHN. Qube Research & Technologies Ltd bought a new stake in First Horizon National during the second quarter worth about $148,000. Point72 Hong Kong Ltd boosted its stake in First Horizon National by 29,974.2% during the second quarter. Point72 Hong Kong Ltd now owns 9,323 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 9,292 shares in the last quarter. Raymond James Trust N.A. bought a new stake in First Horizon National during the third quarter worth about $180,000. CIBC World Markets Inc. bought a new stake in First Horizon National during the third quarter worth about $182,000. Finally, First Interstate Bank boosted its stake in First Horizon National by 107.0% during the third quarter. First Interstate Bank now owns 10,613 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 5,485 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Horizon National stock opened at $13.30 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.92. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.91 and a beta of 0.92. First Horizon National Corp has a 52-week low of $13.19 and a 52-week high of $20.86.

First Horizon National (NYSE:FHN) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $448.62 million. First Horizon National had a net margin of 18.17% and a return on equity of 9.60%. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, research analysts predict that First Horizon National Corp will post 1.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a $0.12 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 3.61%. First Horizon National’s dividend payout ratio (DPR) is presently 43.24%.

In related news, Director Scott M. Niswonger acquired 25,000 shares of the firm’s stock in a transaction dated Monday, December 10th. The stock was purchased at an average cost of $14.55 per share, with a total value of $363,750.00. Following the completion of the acquisition, the director now directly owns 689,951 shares of the company’s stock, valued at $10,038,787.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David T. Popwell acquired 15,750 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were bought at an average cost of $15.88 per share, with a total value of $250,110.00. Following the completion of the acquisition, the insider now directly owns 283,692 shares of the company’s stock, valued at $4,505,028.96. The disclosure for this purchase can be found here. Insiders acquired 93,750 shares of company stock valued at $1,450,730 over the last ninety days. Corporate insiders own 1.75% of the company’s stock.

Several equities research analysts recently commented on FHN shares. Zacks Investment Research lowered shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. ValuEngine lowered shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Wells Fargo & Co set a $20.00 price objective on shares of First Horizon National and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Deutsche Bank raised shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.50 target price for the company in a report on Monday, November 12th. Finally, Morgan Stanley decreased their target price on shares of First Horizon National from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.67.

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About First Horizon National

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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