Patten Group Inc. cut its holdings in shares of First Horizon National Corporation (NYSE:FHN) by 99.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5 shares of the financial services provider’s stock after selling 5,381 shares during the quarter. Patten Group Inc.’s holdings in First Horizon National were worth $103,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Horizon National by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,472 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 676 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of First Horizon National in the third quarter valued at $182,000. Greenwood Capital Associates LLC raised its stake in shares of First Horizon National by 7.3% in the second quarter. Greenwood Capital Associates LLC now owns 11,117 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 757 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of First Horizon National by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 12,227 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 286 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in shares of First Horizon National by 63.2% in the second quarter. Riverhead Capital Management LLC now owns 13,383 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 5,183 shares in the last quarter. Institutional investors own 89.03% of the company’s stock.

First Horizon National Corporation (NYSE:FHN) opened at $19.80 on Thursday. 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 has a 12 month low of $18.68 and a 12 month high of $45.00. The stock has a market capitalization of $4,649.48, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.03.

First Horizon National (NYSE:FHN) last released 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. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. The firm had revenue of $337.00 million during the quarter, compared to analyst estimates of $340.48 million. During the same period in the prior year, the company posted $0.27 earnings per share. equities analysts anticipate that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.36 annualized dividend and a yield of 1.82%. First Horizon National’s dividend payout ratio is currently 32.14%.

A number of brokerages recently commented on FHN. J P Morgan Chase & Co restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a research note on Wednesday, September 13th. ValuEngine lowered First Horizon National from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Morgan Stanley upped their target price on First Horizon National from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday. Zacks Investment Research lowered First Horizon National from a “buy” rating to a “sell” rating in a research note on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.

In other news, CFO William C. Losch III sold 3,500 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total transaction of $64,785.00. Following the sale, the chief financial officer now owns 233,890 shares in the company, valued at $4,329,303.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the sale, the director now owns 482,188 shares in the company, valued at approximately $9,282,119. The disclosure for this sale can be found here. Insiders have sold 54,056 shares of company stock valued at $1,010,022 over the last quarter. Corporate insiders own 2.09% of the company’s stock.

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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.

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

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