First Horizon National Corp. (NYSE:FHN) saw an uptick in trading volume on Friday following a stronger than expected earnings report. 3,400,947 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 2,013,109 shares.The stock last traded at $14.79 and had previously closed at $15.06.

The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. First Horizon National Corp. had a net margin of 17.30% and a return on equity of 8.84%. During the same period in the previous year, the firm earned $0.23 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, September 7th. First Horizon National Corp.’s payout ratio is 30.11%.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of First Horizon National Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Barclays PLC raised their target price on shares of First Horizon National Corp. from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Deutsche Bank AG raised their target price on shares of First Horizon National Corp. from $13.50 to $15.50 and gave the stock a “hold” rating in a report on Monday, September 26th. Hovde Group cut shares of First Horizon National Corp. from an “outperform” rating to a “market perform” rating and set a $16.50 target price for the company. in a report on Monday, September 26th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $15.50 target price on shares of First Horizon National Corp. in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.50.

In other First Horizon National Corp. news, insider David T. Popwell sold 110,422 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $15.12, for a total value of $1,669,580.64. Following the completion of the sale, the insider now owns 299,844 shares in the company, valued at approximately $4,533,641.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael E. Kisber sold 338,187 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $15.25, for a total transaction of $5,157,351.75. Following the completion of the sale, the insider now owns 473,309 shares of the company’s stock, valued at approximately $7,217,962.25. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in FHN. Vanguard Group Inc. increased its stake in First Horizon National Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 17,259,984 shares of the financial services provider’s stock worth $237,842,000 after buying an additional 679,074 shares during the last quarter. BlackRock Fund Advisors increased its position in First Horizon National Corp. by 1.7% in the second quarter. BlackRock Fund Advisors now owns 8,577,574 shares of the financial services provider’s stock worth $118,199,000 after buying an additional 145,182 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in First Horizon National Corp. by 8.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,349,946 shares of the financial services provider’s stock worth $101,282,000 after buying an additional 576,009 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in First Horizon National Corp. by 19.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 5,455,922 shares of the financial services provider’s stock worth $75,183,000 after buying an additional 905,461 shares in the last quarter. Finally, Citadel Advisors LLC increased its position in First Horizon National Corp. by 110.3% in the second quarter. Citadel Advisors LLC now owns 5,415,762 shares of the financial services provider’s stock worth $74,630,000 after buying an additional 2,840,255 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 16.79 and a beta of 1.16. The firm’s 50-day moving average price is $15.23 and its 200-day moving average price is $14.38.

First Horizon National Corp. 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.

5 Day Chart for NYSE:FHN

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