Nordea Investment Management AB Purchases 11,609 Shares of First Horizon National Corporation (FHN)

Nordea Investment Management AB lifted its position in shares of First Horizon National Corporation (NYSE:FHN) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,484 shares of the financial services provider’s stock after buying an additional 11,609 shares during the quarter. Nordea Investment Management AB owned approximately 0.05% of First Horizon National worth $2,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of First Horizon National by 2.2% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 12,296,061 shares of the financial services provider’s stock worth $235,470,000 after buying an additional 264,035 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of First Horizon National by 19.7% during the 3rd quarter. Pacer Advisors Inc. now owns 31,690 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 5,219 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of First Horizon National during the 3rd quarter worth $182,000. Ameriprise Financial Inc. lifted its stake in shares of First Horizon National by 15.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,053,551 shares of the financial services provider’s stock worth $20,180,000 after purchasing an additional 140,288 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of First Horizon National by 2.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 603,430 shares of the financial services provider’s stock worth $11,556,000 after purchasing an additional 14,807 shares during the last quarter. 89.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, 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 completion of the transaction, the director now directly owns 482,188 shares in the company, valued at $9,282,119. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $840,343.41. Following the completion of the transaction, the chief financial officer now owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,056 shares of company stock valued at $1,010,022. 2.09% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on FHN shares. Zacks Investment Research upgraded First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, September 18th. J P Morgan Chase & Co restated a “buy” rating and set a $20.00 price objective on shares of First Horizon National in a research note on Wednesday, September 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price objective on shares of First Horizon National in a research note on Tuesday, October 3rd. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective (up from $19.50) on shares of First Horizon National in a research note on Wednesday, October 4th. Finally, Barclays restated an “equal weight” rating and set a $21.00 price objective on shares of First Horizon National in a research note on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.75.

First Horizon National Corporation (NYSE FHN) traded down $0.34 during trading on Wednesday, reaching $19.93. The company’s stock had a trading volume of 12,725,301 shares, compared to its average volume of 674,472. 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 52 week low of $18.68 and a 52 week high of $45.00. The stock has a market capitalization of $4,747.85, a PE ratio of 19.31, a PEG ratio of 2.61 and a beta of 1.03.

First Horizon National (NYSE:FHN) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, beating 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 company had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $340.48 million. During the same period last year, the business posted $0.27 earnings per share. equities research analysts predict that First Horizon National Corporation will post 1.11 EPS for the current fiscal year.

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

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First Horizon National 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.

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

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