LSV Asset Management grew its holdings in shares of First Horizon National Co. (NYSE:FHN) by 28.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,133,540 shares of the financial services provider’s stock after acquiring an additional 1,339,912 shares during the period. LSV Asset Management owned about 1.96% of First Horizon National worth $57,839,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FHN. Berman Capital Advisors LLC lifted its stake in shares of First Horizon National by 240.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 3,027 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,137 shares during the last quarter. FIL Ltd acquired a new stake in First Horizon National in the second quarter valued at $32,000. Parkside Financial Bank & Trust acquired a new stake in First Horizon National in the second quarter valued at $37,000. Carroll Financial Associates Inc. lifted its stake in First Horizon National by 20.7% in the third quarter. Carroll Financial Associates Inc. now owns 6,547 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,124 shares during the last quarter. Finally, NuWave Investment Management LLC acquired a new stake in First Horizon National in the second quarter valued at $71,000. Institutional investors own 99.05% of the company’s stock.
FHN has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of First Horizon National from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, October 8th. Wells Fargo & Company lifted their price objective on First Horizon National from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Goldman Sachs Group started coverage on First Horizon National in a report on Thursday, August 20th. They issued a “buy” rating and a $12.00 price objective for the company. SunTrust Banks cut their price target on First Horizon National from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Evercore ISI upgraded First Horizon National from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $11.00 in a research note on Monday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.71.
Shares of FHN traded down $0.34 during mid-day trading on Monday, hitting $10.74. 100,476 shares of the stock were exchanged, compared to its average volume of 6,420,616. The company has a market cap of $3.46 billion, a PE ratio of 11.91 and a beta of 1.50. First Horizon National Co. has a 52-week low of $6.27 and a 52-week high of $17.42. The firm has a 50-day moving average of $9.90 and a two-hundred day moving average of $9.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.93 and a current ratio of 0.95.
First Horizon National (NYSE:FHN) last issued its quarterly earnings data on Friday, October 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.18. First Horizon National had a return on equity of 7.45% and a net margin of 13.06%. During the same quarter in the previous year, the business posted $0.43 EPS. On average, sell-side analysts predict that First Horizon National Co. will post 0.77 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.60 annualized dividend and a yield of 5.59%. First Horizon National’s payout ratio is presently 36.14%.
First Horizon National Profile
First Horizon National Corporation operates as the bank holding company for First Horizon Bank 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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