Great Lakes Advisors LLC cut its stake in shares of First Horizon National Corporation (NYSE:FHN) by 53.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 136,107 shares of the financial services provider’s stock after selling 156,029 shares during the period. Great Lakes Advisors LLC owned 0.06% of First Horizon National Corporation worth $2,371,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. boosted its stake in First Horizon National Corporation by 16.5% in the second quarter. Thompson Investment Management Inc. now owns 119,520 shares of the financial services provider’s stock worth $2,082,000 after buying an additional 16,950 shares during the last quarter. 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 worth $92,465,000 after buying an additional 257,701 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in First Horizon National Corporation by 15.2% in the second quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock worth $1,840,000 after buying an additional 13,900 shares during the last quarter. Federated Investors Inc. PA boosted its stake in First Horizon National Corporation by 15.7% in the second quarter. Federated Investors Inc. PA now owns 496,388 shares of the financial services provider’s stock worth $8,647,000 after buying an additional 67,440 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in First Horizon National Corporation by 136.7% in the second quarter. Marshall Wace North America L.P. now owns 557,746 shares of the financial services provider’s stock worth $9,482,000 after buying an additional 322,111 shares during the last quarter. 85.08% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon National Corporation (NYSE FHN) opened at 17.21 on Tuesday. First Horizon National Corporation has a 12 month low of $14.60 and a 12 month high of $20.84. The stock’s 50 day moving average is $17.49 and its 200-day moving average is $18.15. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 15.50 and a beta of 1.06.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.09%. First Horizon National Corporation’s dividend payout ratio (DPR) is presently 32.43%.

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A number of research firms have weighed in on FHN. BidaskClub raised shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday. Raymond James Financial, Inc. raised shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. UBS AG raised shares of First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of First Horizon National Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Hovde Group cut their price objective on shares of First Horizon National Corporation from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.57.

In related news, Director Vicki R. Palmer sold 5,211 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the transaction, the director now owns 57,818 shares in the company, valued at approximately $1,020,487.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by company insiders.

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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