Parnassus Investments CA increased its stake in First Horizon National Corporation (NYSE:FHN) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,654,568 shares of the financial services provider’s stock after acquiring an additional 446,174 shares during the period. Parnassus Investments CA owned approximately 2.41% of First Horizon National Corporation worth $108,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FHN. Goldman Sachs Group Inc. raised its stake in shares of First Horizon National Corporation by 137.9% in the second quarter. Goldman Sachs Group Inc. now owns 4,862,020 shares of the financial services provider’s stock valued at $84,697,000 after acquiring an additional 2,817,897 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of First Horizon National Corporation by 56.1% in the second quarter. Lord Abbett & CO. LLC now owns 4,270,239 shares of the financial services provider’s stock valued at $74,388,000 after acquiring an additional 1,534,966 shares in the last quarter. State Street Corp raised its stake in shares of First Horizon National Corporation by 6.4% in the second quarter. State Street Corp now owns 14,203,778 shares of the financial services provider’s stock valued at $247,425,000 after acquiring an additional 850,609 shares in the last quarter. LSV Asset Management acquired a new stake in shares of First Horizon National Corporation in the second quarter valued at $9,065,000. Finally, Balyasny Asset Management LLC raised its stake in shares of First Horizon National Corporation by 790.0% in the second quarter. Balyasny Asset Management LLC now owns 504,253 shares of the financial services provider’s stock valued at $8,784,000 after acquiring an additional 447,597 shares in the last quarter. Institutional investors and hedge funds own 84.95% of the company’s stock.

In other First Horizon National Corporation news, CFO William C. Losch III sold 45,107 shares of the firm’s 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 owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Brad Martin sold 5,449 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the transaction, the director now directly owns 482,188 shares in the company, valued at approximately $9,282,119. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,056 shares of company stock worth $1,010,022. Corporate insiders own 2.09% of the company’s stock.

A number of research firms have weighed in on FHN. Hovde Group raised their price target on First Horizon National Corporation from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. BidaskClub upgraded First Horizon National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Raymond James Financial, Inc. upgraded First Horizon National Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, September 18th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 price target on shares of First Horizon National Corporation in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.22.

Shares of First Horizon National Corporation (FHN) traded down $0.16 during mid-day trading on Monday, hitting $18.70. The company’s stock had a trading volume of 368,631 shares, compared to its average volume of 3,347,887. The stock has a market capitalization of $4,417.60, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. First Horizon National Corporation has a 12 month low of $14.92 and a 12 month high of $20.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94.

First Horizon National Corporation (NYSE:FHN) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $337.00 million for the quarter, compared to analyst estimates of $340.48 million. First Horizon National Corporation had a return on equity of 9.40% and a net margin of 19.36%. During the same quarter last year, the company posted $0.27 earnings per share. research analysts forecast that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, November 2nd. First Horizon National Corporation’s payout ratio is 32.14%.

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First Horizon National Corporation 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 Corporation (NYSE:FHN)

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