Goldman Sachs Group Inc. boosted its stake in shares of First Horizon National Corporation (NYSE:FHN) by 137.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,862,020 shares of the financial services provider’s stock after purchasing an additional 2,817,897 shares during the period. Goldman Sachs Group Inc. owned about 2.08% of First Horizon National Corporation worth $84,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Horizon National Corporation by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock worth $148,000 after buying an additional 676 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of First Horizon National Corporation in the first quarter worth about $189,000. Greenwood Capital Associates LLC raised its stake in shares of First Horizon National Corporation by 7.3% in the second quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock worth $194,000 after buying an additional 757 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of First Horizon National Corporation by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after buying an additional 286 shares during the period. Finally, United Capital Financial Advisers LLC raised its stake in shares of First Horizon National Corporation by 1.3% in the first quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock worth $220,000 after buying an additional 157 shares during the period. Institutional investors own 85.05% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Goldman Sachs Group Inc. Buys 2,817,897 Shares of First Horizon National Corporation (FHN)” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/10/04/goldman-sachs-group-inc-buys-2817897-shares-of-first-horizon-national-corporation-fhn.html.

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

First Horizon National Corporation (NYSE FHN) traded down 0.078% during mid-day trading on Wednesday, reaching $19.155. The company’s stock had a trading volume of 301,264 shares. The firm’s 50 day moving average is $17.57 and its 200-day moving average is $17.73. First Horizon National Corporation has a 12-month low of $14.60 and a 12-month high of $20.84. The company has a market cap of $4.48 billion, a PE ratio of 17.257 and a beta of 1.05.

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

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.88%. First Horizon National Corporation’s payout ratio is 32.43%.

Several equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $20.00 price target on shares of First Horizon National Corporation in a report on Friday, July 7th. BidaskClub upgraded shares of First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. ValuEngine cut shares of First Horizon National Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. J P Morgan Chase & Co restated a “buy” rating and set a $20.00 price objective on shares of First Horizon National Corporation in a research report on Wednesday, September 13th. Finally, Morgan Stanley restated an “equal weight” rating and set a $19.50 price objective on shares of First Horizon National Corporation in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.39.

First Horizon National Corporation 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.

Want to see what other hedge funds are holding FHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Horizon National Corporation (NYSE:FHN).

Institutional Ownership by Quarter for First Horizon National Corporation (NYSE:FHN)

Receive News & Stock Ratings for First Horizon National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National Corporation and related stocks with our FREE daily email newsletter.