CNA Financial Corp Acquires 5,200 Shares of First Horizon National Corporation (FHN)

CNA Financial Corp raised its stake in shares of First Horizon National Corporation (NYSE:FHN) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,900 shares of the financial services provider’s stock after buying an additional 5,200 shares during the period. CNA Financial Corp’s holdings in First Horizon National Corporation were worth $1,071,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FHN. Raymond James Financial Services Advisors Inc. raised its stake in 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. United Capital Financial Advisers LLC raised its stake in First Horizon National Corporation by 1.3% in the first quarter. United Capital Financial Advisers LLC now owns 11,885 shares of the financial services provider’s stock valued at $220,000 after buying an additional 157 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in 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. World Asset Management Inc raised its stake in First Horizon National Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 14,468 shares of the financial services provider’s stock valued at $268,000 after buying an additional 262 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in First Horizon National Corporation by 1.5% in the first quarter. Teacher Retirement System of Texas now owns 18,435 shares of the financial services provider’s stock valued at $341,000 after buying an additional 269 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

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

First Horizon National Corporation (NYSE FHN) traded down 1.28% on Wednesday, reaching $17.01. 1,999,293 shares of the company’s stock traded hands. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 17.54 and a beta of 1.04. The stock’s 50 day moving average is $17.60 and its 200 day moving average is $19.00. 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 results on Thursday, April 13th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the Zacks’ 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 previous year, the firm posted $0.20 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that First Horizon National Corporation will post $1.10 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, June 7th. First Horizon National Corporation’s payout ratio is currently 37.11%.

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Several analysts recently commented on the stock. BidaskClub lowered shares of First Horizon National Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Vining Sparks raised shares of First Horizon National Corporation to an “outperform” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 target price on shares of First Horizon National Corporation in a research note on Monday, June 12th. ValuEngine raised shares of First Horizon National Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC cut their target price on shares of First Horizon National Corporation from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.93.

In other First Horizon National Corporation news, Director Vicki R. Palmer sold 5,211 shares of First Horizon National Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $17.65, for a total value of $91,974.15. Following the transaction, the director now owns 57,818 shares of the company’s stock, valued at $1,020,487.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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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