Elkfork Partners LLC Purchases 1,792 Shares of First Horizon National Corp (FHN)

Elkfork Partners LLC increased its stake in First Horizon National Corp (NYSE:FHN) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,936 shares of the financial services provider’s stock after buying an additional 1,792 shares during the period. Elkfork Partners LLC’s holdings in First Horizon National Corp were worth $239,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Capital Fund Management S.A. bought a new stake in shares of First Horizon National Corp during the first quarter valued at $14,632,000. First Trust Advisors LP increased its stake in shares of First Horizon National Corp by 263.4% in the first quarter. First Trust Advisors LP now owns 1,166,505 shares of the financial services provider’s stock valued at $21,580,000 after buying an additional 845,550 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of First Horizon National Corp by 1.2% in the first quarter. State Treasurer State of Michigan now owns 94,983 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 1,100 shares in the last quarter. ING Groep NV bought a new stake in shares of First Horizon National Corp during the first quarter valued at $370,000. Finally, Parnassus Investments CA increased 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. Institutional investors and hedge funds own 81.70% of the company’s stock.

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

Shares of First Horizon National Corp (NYSE:FHN) traded up 0.378% during trading on Friday, hitting $17.265. 888,779 shares of the stock were exchanged. First Horizon National Corp has a 12-month low of $12.46 and a 12-month high of $20.84. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 17.799 and a beta of 1.17. The firm has a 50 day moving average of $18.23 and a 200-day moving average of $19.00.

First Horizon National Corp (NYSE:FHN) last announced its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $324.31 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts forecast that First Horizon National Corp will post $1.11 earnings per share for the current year.

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

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Several brokerages have recently weighed in on FHN. Stephens restated a “hold” rating on shares of First Horizon National Corp in a research report on Thursday, May 4th. Barclays PLC reduced their price objective on shares of First Horizon National Corp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Vining Sparks upgraded shares of First Horizon National Corp to an “outperform” rating in a research report on Tuesday, April 18th. Hovde Group reduced their price objective on shares of First Horizon National Corp from $21.50 to $20.00 and set a “market perform” rating for the company in a research report on Monday, April 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price objective on shares of First Horizon National Corp in a research report on Monday, April 10th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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.

5 Day Chart for NYSE:FHN

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