M&T Bank Corp boosted its stake in shares of First Horizon National Corporation (NYSE:FHN) by 32.2% during the first quarter, Holdings Channel reports. The institutional investor owned 16,270 shares of the financial services provider’s stock after buying an additional 3,962 shares during the period. M&T Bank Corp’s holdings in First Horizon National Corporation were worth $301,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. ETRADE Capital Management LLC purchased a new position in shares of First Horizon National Corporation during the third quarter valued at about $239,000. State Street Corp raised its position in shares of First Horizon National Corporation by 6.2% in the fourth quarter. State Street Corp now owns 10,994,845 shares of the financial services provider’s stock valued at $220,000,000 after buying an additional 645,042 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of First Horizon National Corporation by 0.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,985 shares of the financial services provider’s stock valued at $240,000 after buying an additional 68 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of First Horizon National Corporation by 0.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,530 shares of the financial services provider’s stock valued at $691,000 after buying an additional 211 shares in the last quarter. Finally, Elkfork Partners LLC purchased a new position in shares of First Horizon National Corporation during the fourth quarter valued at about $223,000. Hedge funds and other institutional investors own 86.55% of the company’s stock.

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

Shares of First Horizon National Corporation (NYSE FHN) opened at 17.49 on Friday. The firm has a market cap of $4.09 billion, a P/E ratio of 18.03 and a beta of 1.04. The company’s 50-day moving average price is $17.67 and its 200 day moving average price is $19.03. First Horizon National Corporation has a 52 week low of $12.46 and a 52 week high of $20.84.

First Horizon National Corporation (NYSE:FHN) last announced its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. First Horizon National Corporation had a net margin of 16.92% and a return on equity of 8.89%. The firm had revenue of $306.65 million for the quarter, compared to analyst estimates of $324.31 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that First Horizon National Corporation will post $1.10 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, June 7th. First Horizon National Corporation’s payout ratio is presently 37.11%.

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Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded First Horizon National Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.00 price objective on shares of First Horizon National Corporation in a research note on Monday, April 10th. Hovde Group lowered their price objective on First Horizon National Corporation from $21.50 to $20.00 and set a “market perform” rating on the stock in a research note on Monday, April 17th. Stephens reiterated a “hold” rating on shares of First Horizon National Corporation in a research note on Monday, April 17th. Finally, Vining Sparks upgraded First Horizon National Corporation to an “outperform” rating in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.93.

In other news, Director Vicki R. Palmer sold 5,211 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $17.65, for a total transaction of $91,974.15. Following the completion of the sale, the director now directly owns 57,818 shares of the company’s stock, valued at $1,020,487.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.09% of the company’s stock.

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.

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