California State Teachers Retirement System Lowers Stake in First Horizon National Corp (NYSE:FHN)

California State Teachers Retirement System reduced its stake in First Horizon National Corp (NYSE:FHN) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,209 shares of the financial services provider’s stock after selling 4,095 shares during the period. California State Teachers Retirement System owned 0.16% of First Horizon National worth $6,899,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Enlightenment Research LLC purchased a new position in shares of First Horizon National in the fourth quarter valued at $50,000. Toronto Dominion Bank purchased a new stake in First Horizon National during the 4th quarter worth about $73,000. ETF Managers Group LLC increased its position in First Horizon National by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 942 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in First Horizon National in the 4th quarter valued at about $105,000. Finally, Advisor Group Inc. grew its holdings in First Horizon National by 192.8% in the 4th quarter. Advisor Group Inc. now owns 9,492 shares of the financial services provider’s stock valued at $125,000 after buying an additional 6,250 shares during the period. Institutional investors own 90.38% of the company’s stock.

FHN stock traded down $0.37 during trading on Monday, reaching $14.32. 3,040,302 shares of the company’s stock were exchanged, compared to its average volume of 3,122,667. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.94. First Horizon National Corp has a 1-year low of $12.30 and a 1-year high of $19.75. The firm has a market capitalization of $4.66 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.18.

First Horizon National (NYSE:FHN) last announced its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The business had revenue of $412.80 million for the quarter, compared to analyst estimates of $443.30 million. First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) EPS. Equities research analysts predict that First Horizon National Corp will post 1.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.14 dividend. This is a positive change from First Horizon National’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.91%. First Horizon National’s dividend payout ratio is 39.72%.

FHN has been the topic of several research analyst reports. Bank of America lowered First Horizon National from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. TheStreet lowered First Horizon National from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. Raymond James lowered First Horizon National from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Robert W. Baird assumed coverage on First Horizon National in a research note on Thursday, December 20th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research lowered First Horizon National from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

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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.

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

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