Schwab Charles Investment Management Inc. Has $20.16 Million Stake in First Horizon National Corporation (FHN)

Schwab Charles Investment Management Inc. lifted its holdings in shares of First Horizon National Corporation (NYSE:FHN) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,052,633 shares of the financial services provider’s stock after purchasing an additional 16,633 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.45% of First Horizon National worth $20,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barings LLC acquired a new position in shares of First Horizon National during the 3rd quarter worth $372,000. Wells Fargo & Company MN grew its stake in First Horizon National by 8.2% in the 3rd quarter. Wells Fargo & Company MN now owns 1,774,624 shares of the financial services provider’s stock valued at $33,985,000 after buying an additional 133,810 shares during the last quarter. Schroder Investment Management Group grew its stake in First Horizon National by 13.2% in the 3rd quarter. Schroder Investment Management Group now owns 4,924,091 shares of the financial services provider’s stock valued at $93,705,000 after buying an additional 575,552 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in First Horizon National by 12.1% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 118,400 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 12,800 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in First Horizon National by 8.9% in the 3rd quarter. Legal & General Group Plc now owns 277,486 shares of the financial services provider’s stock valued at $5,314,000 after buying an additional 22,641 shares during the last quarter. Institutional investors own 88.97% of the company’s stock.

Shares of First Horizon National Corporation (NYSE:FHN) opened at $20.54 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. First Horizon National Corporation has a 1-year low of $15.84 and a 1-year high of $20.84. The firm has a market cap of $4,726.77, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.03.

First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. First Horizon National had a net margin of 19.36% and a return on equity of 9.40%. The firm had revenue of $337.00 million during the quarter, compared to the consensus estimate of $340.48 million. During the same period in the prior year, the firm earned $0.27 EPS. equities research analysts predict that First Horizon National Corporation will post 1.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, November 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, November 2nd. First Horizon National’s dividend payout ratio (DPR) is presently 32.14%.

In other First Horizon National news, Director R Brad Martin sold 5,449 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $19.25, for a total value of $104,893.25. Following the completion of the sale, the director now directly owns 482,188 shares of the company’s stock, valued at approximately $9,282,119. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William C. Losch III sold 45,107 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.63, for a total transaction of $840,343.41. Following the completion of the sale, the chief financial officer now directly owns 275,497 shares of the company’s stock, valued at $5,132,509.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,056 shares of company stock valued at $1,010,022. Insiders own 2.09% of the company’s stock.

FHN has been the topic of a number of research analyst reports. BidaskClub upgraded shares of First Horizon National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. ValuEngine lowered shares of First Horizon National from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. J P Morgan Chase & Co reiterated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, September 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $19.50 target price on shares of First Horizon National in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

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About First Horizon National

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

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