GHP Investment Advisors Inc. Has $1.232 Million Stake in First Horizon National Corp (FHN)

GHP Investment Advisors Inc. increased its stake in First Horizon National Corp (NYSE:FHN) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,611 shares of the financial services provider’s stock after buying an additional 2,551 shares during the period. GHP Investment Advisors Inc.’s holdings in First Horizon National Corp were worth $1,232,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FHN. Franklin Resources Inc. raised its stake in shares of First Horizon National Corp by 404.0% in the fourth quarter. Franklin Resources Inc. now owns 4,175,200 shares of the financial services provider’s stock valued at $83,546,000 after buying an additional 3,346,800 shares in the last quarter. Norges Bank bought a new stake in shares of First Horizon National Corp during the fourth quarter valued at $40,661,000. Alyeska Investment Group L.P. raised its stake in shares of First Horizon National Corp by 220.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,284,477 shares of the financial services provider’s stock valued at $45,712,000 after buying an additional 1,572,109 shares in the last quarter. Parnassus Investments CA raised its stake in shares of First Horizon National Corp by 33.3% in the first quarter. Parnassus Investments CA now owns 5,000,000 shares of the financial services provider’s stock valued at $92,500,000 after buying an additional 1,250,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of First Horizon National Corp by 22.1% in the first quarter. Bank of New York Mellon Corp now owns 6,248,428 shares of the financial services provider’s stock valued at $115,597,000 after buying an additional 1,132,844 shares in the last quarter. 81.70% of the stock is currently owned by hedge funds and other institutional investors.

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

First Horizon National Corp (NYSE:FHN) traded down 0.23% on Friday, hitting $17.16. The stock had a trading volume of 1,842,183 shares. The firm has a market cap of $4.01 billion, a P/E ratio of 17.69 and a beta of 1.17. The firm’s 50-day moving average price is $18.19 and its 200-day moving average price is $19.02. First Horizon National Corp has a 1-year low of $12.46 and a 1-year high of $20.84.

First Horizon National Corp (NYSE:FHN) last issued its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. First Horizon National Corp had a return on equity of 8.73% and a net margin of 16.57%. The firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $324.31 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts predict that First Horizon National Corp will post $1.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.36 annualized dividend and a yield of 2.09%. First Horizon National Corp’s payout ratio is 29.79%.

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Several equities research analysts have weighed in on FHN shares. Zacks Investment Research lowered First Horizon National Corp from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Vining Sparks raised First Horizon National Corp to an “outperform” rating in a research report on Tuesday, April 18th. JMP Securities started coverage on First Horizon National Corp in a research report on Thursday, February 2nd. They issued a “market perform” rating on the stock. Stephens reaffirmed a “hold” rating on shares of First Horizon National Corp in a research report on Monday, April 17th. Finally, Hovde Group dropped their target price on First Horizon National Corp from $21.50 to $20.00 and set a “market perform” rating on the stock in a research report on Monday, April 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.93.

First Horizon National Corp 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.

12 Month Chart for NYSE:FHN

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