Suntrust Banks Inc. Lowers Holdings in First Horizon National Corp (FHN)

Suntrust Banks Inc. lowered its holdings in shares of First Horizon National Corp (NYSE:FHN) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,328 shares of the financial services provider’s stock after selling 4,564 shares during the quarter. Suntrust Banks Inc.’s holdings in First Horizon National were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FHN. EJF Capital LLC lifted its position in First Horizon National by 90.3% during the third quarter. EJF Capital LLC now owns 3,657,814 shares of the financial services provider’s stock valued at $63,134,000 after purchasing an additional 1,735,314 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in First Horizon National by 1,226.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,709,155 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,580,286 shares during the last quarter. NWQ Investment Management Company LLC lifted its position in First Horizon National by 48.8% during the third quarter. NWQ Investment Management Company LLC now owns 4,640,319 shares of the financial services provider’s stock valued at $76,101,000 after purchasing an additional 1,521,079 shares during the last quarter. Parnassus Investments CA lifted its position in First Horizon National by 17.7% during the fourth quarter. Parnassus Investments CA now owns 9,542,251 shares of the financial services provider’s stock valued at $125,576,000 after purchasing an additional 1,432,640 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in First Horizon National by 54.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,640,707 shares of the financial services provider’s stock valued at $62,838,000 after purchasing an additional 1,281,532 shares during the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.

FHN has been the subject of several research reports. Bank of America lowered shares of First Horizon National from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. TheStreet lowered shares of First Horizon National from a “b-” rating to a “c+” rating in a research report on Thursday, December 27th. Raymond James lowered shares of First Horizon National from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Robert W. Baird initiated coverage on shares of First Horizon National in a report on Thursday, December 20th. They issued a “neutral” rating for the company. Finally, Morgan Stanley lowered their target price on shares of First Horizon National from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, December 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.15.

First Horizon National stock opened at $14.44 on Tuesday. The stock has a market capitalization of $4.44 billion, a PE ratio of 10.24, a PEG ratio of 1.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.92. First Horizon National Corp has a 12-month low of $12.30 and a 12-month high of $19.75.

First Horizon National (NYSE:FHN) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The company had revenue of $412.80 million during the quarter, compared to analysts’ expectations of $443.30 million. First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.20) EPS. Research analysts forecast that First Horizon National Corp will post 1.51 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from First Horizon National’s previous quarterly dividend of $0.12. First Horizon National’s dividend payout ratio (DPR) is currently 39.72%.

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First Horizon National Company Profile

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association 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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Institutional Ownership by Quarter for First Horizon National (NYSE:FHN)

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