Ameriprise Financial Inc. raised its holdings in First Horizon National Corporation (NYSE:FHN) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,053,551 shares of the financial services provider’s stock after purchasing an additional 140,288 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.45% of First Horizon National worth $20,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Neuberger Berman Group LLC raised its position in shares of First Horizon National by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 13,800 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 110 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of First Horizon National by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 286 shares during the last quarter. World Asset Management Inc raised its position in shares of First Horizon National by 2.2% during the second quarter. World Asset Management Inc now owns 14,781 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 313 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of First Horizon National by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 18,754 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 319 shares during the last quarter. Finally, Utah Retirement Systems raised its position in shares of First Horizon National by 1.0% during the second quarter. Utah Retirement Systems now owns 42,347 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 89.03% of the company’s stock.

In other First Horizon National news, CFO William C. Losch III sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total value of $64,785.00. Following the completion of the transaction, the chief financial officer now directly owns 233,890 shares of the company’s stock, valued at $4,329,303.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 5,449 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the transaction, the director now directly owns 482,188 shares of the company’s stock, valued at $9,282,119. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,056 shares of company stock valued at $1,010,022. 2.09% of the stock is owned by insiders.

Shares of First Horizon National Corporation (NYSE:FHN) traded down $0.19 during trading on Monday, hitting $19.94. The company had a trading volume of 3,302,100 shares, compared to its average volume of 714,082. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. First Horizon National Corporation has a twelve month low of $18.68 and a twelve month high of $45.00. The firm has a market capitalization of $4,670.56, a PE ratio of 18.99, a PEG ratio of 2.57 and a beta of 1.03.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. First Horizon National’s dividend payout ratio (DPR) is presently 32.14%.

A number of research firms have recently weighed in on FHN. Royal Bank Of Canada restated a “hold” rating and set a $22.00 target price on shares of First Horizon National in a research report on Tuesday, December 5th. Barclays restated an “equal weight” rating and set a $21.00 target price on shares of First Horizon National in a research report on Monday, December 4th. Zacks Investment Research upgraded First Horizon National from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 target price on shares of First Horizon National in a research report on Tuesday, October 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (up previously from $19.50) on shares of First Horizon National in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. First Horizon National presently has an average rating of “Hold” and a consensus price target of $20.75.

ILLEGAL ACTIVITY WARNING: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/11/first-horizon-national-corporation-fhn-shares-bought-by-ameriprise-financial-inc.html.

First Horizon National 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 (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.