12,821 Shares in First Horizon National Corp (FHN) Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in shares of First Horizon National Corp (NYSE:FHN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,821 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other institutional investors also recently made changes to their positions in FHN. Alliancebernstein L.P. lifted its holdings in First Horizon National by 6.0% in the fourth quarter. Alliancebernstein L.P. now owns 158,203 shares of the financial services provider’s stock valued at $3,162,000 after buying an additional 8,916 shares during the period. Teachers Advisors LLC lifted its holdings in First Horizon National by 29.5% in the fourth quarter. Teachers Advisors LLC now owns 345,885 shares of the financial services provider’s stock valued at $6,914,000 after buying an additional 78,823 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in First Horizon National by 8.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 410,377 shares of the financial services provider’s stock valued at $8,203,000 after buying an additional 33,655 shares during the period. Macquarie Group Ltd. lifted its holdings in First Horizon National by 28.4% in the fourth quarter. Macquarie Group Ltd. now owns 12,200 shares of the financial services provider’s stock valued at $244,000 after buying an additional 2,700 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in First Horizon National in the fourth quarter valued at $619,000. 83.45% of the stock is owned by institutional investors and hedge funds.

In other First Horizon National news, Chairman D Bryan Jordan bought 25,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average price of $17.76 per share, for a total transaction of $444,000.00. Following the acquisition, the chairman now directly owns 611,832 shares of the company’s stock, valued at approximately $10,866,136.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott M. Niswonger bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was acquired at an average price of $18.20 per share, for a total transaction of $1,820,000.00. Following the acquisition, the director now directly owns 639,403 shares in the company, valued at $11,637,134.60. The disclosure for this purchase can be found here. Insiders purchased a total of 130,000 shares of company stock worth $2,352,400 in the last 90 days. 1.75% of the stock is currently owned by company insiders.

FHN opened at $18.23 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.28. First Horizon National Corp has a fifty-two week low of $15.84 and a fifty-two week high of $20.86. The stock has a market capitalization of $5.96 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.92.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a $0.12 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.63%. First Horizon National’s dividend payout ratio is presently 43.24%.

Several research firms recently issued reports on FHN. FIG Partners upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating in a report on Monday, April 16th. Hovde Group upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, June 29th. Morgan Stanley dropped their price objective on shares of First Horizon National from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, July 20th. Barclays dropped their price objective on shares of First Horizon National from $23.00 to $21.00 and set a “$17.03” rating on the stock in a report on Wednesday, July 18th. Finally, Royal Bank of Canada dropped their price objective on shares of First Horizon National from $21.00 to $19.00 and set a “$17.03” rating on the stock in a report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.83.

About First Horizon National

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Read More: Dividend

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

Receive News & Ratings for First Horizon National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon National and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply