Today, First Horizon National Corp. (FHN) Stake Boosted by Mutual of America Capital Management LLC

Today, First Horizon National Corp. (FHN) Stake Boosted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its stake in First Horizon National Corp. (NYSE:FHN) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 172,646 shares of the financial services provider’s stock after buying an additional 2,940 shares during the period. Mutual of America Capital Management LLC owned 0.07% of First Horizon National Corp. worth $2,629,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mariner Wealth Advisors LLC increased its stake in shares of First Horizon National Corp. by 0.3% in the second quarter. Mariner Wealth Advisors LLC now owns 21,235 shares of the financial services provider’s stock valued at $293,000 after buying an additional 56 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in shares of First Horizon National Corp. by 1.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,000 shares of the financial services provider’s stock valued at $106,000 after buying an additional 106 shares during the last quarter. Utah Retirement Systems increased its stake in shares of First Horizon National Corp. by 0.5% in the second quarter. Utah Retirement Systems now owns 42,047 shares of the financial services provider’s stock valued at $580,000 after buying an additional 200 shares during the last quarter. Raymond James & Associates increased its stake in shares of First Horizon National Corp. by 1.0% in the second quarter. Raymond James & Associates now owns 24,879 shares of the financial services provider’s stock valued at $343,000 after buying an additional 240 shares during the last quarter. Finally, Loews Corp increased its stake in shares of First Horizon National Corp. by 2.2% in the second quarter. Loews Corp now owns 14,073 shares of the financial services provider’s stock valued at $194,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Shares of First Horizon National Corp. (NYSE:FHN) remained flat at $18.71 on Friday. 303,275 shares of the company’s stock traded hands. The company’s 50-day moving average price is $16.25 and its 200 day moving average price is $14.96. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 20.63 and a beta of 1.07. First Horizon National Corp. has a 1-year low of $11.51 and a 1-year high of $19.26.

First Horizon National Corp. (NYSE:FHN) last issued its earnings results on Friday, October 14th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. First Horizon National Corp. had a return on equity of 8.54% and a net margin of 16.40%. During the same quarter in the previous year, the company posted $0.23 EPS. On average, equities analysts predict that First Horizon National Corp. will post $0.96 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, December 7th. First Horizon National Corp.’s dividend payout ratio is presently 30.77%.

Several research firms have commented on FHN. Jefferies Group restated a “hold” rating and set a $16.00 price objective on shares of First Horizon National Corp. in a report on Wednesday, October 19th. Hovde Group downgraded First Horizon National Corp. from an “outperform” rating to a “market perform” rating and set a $16.50 price objective on the stock. in a report on Monday, September 26th. Zacks Investment Research downgraded First Horizon National Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Deutsche Bank AG raised their price objective on First Horizon National Corp. from $13.50 to $15.50 and gave the stock a “hold” rating in a report on Monday, September 26th. Finally, Wells Fargo & Co. downgraded First Horizon National Corp. from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.83.

In related news, insider Michael E. Kisber sold 338,187 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $15.25, for a total value of $5,157,351.75. Following the transaction, the insider now directly owns 473,309 shares in the company, valued at $7,217,962.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John M. Daniel sold 42,531 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $16.00, for a total value of $680,496.00. Following the completion of the transaction, the executive vice president now owns 272,586 shares in the company, valued at $4,361,376. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

About First Horizon National Corp.

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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