Jane Street Group LLC lifted its stake in shares of First Horizon National Corporation (NYSE:FHN) by 891.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,476 shares of the financial services provider’s stock after buying an additional 93,940 shares during the quarter. Jane Street Group LLC’s holdings in First Horizon National were worth $2,001,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FHN. Virginia Retirement Systems ET AL increased its holdings in shares of First Horizon National by 15.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 105,600 shares of the financial services provider’s stock valued at $1,840,000 after acquiring an additional 13,900 shares during the period. CNA Financial Corp increased its stake in First Horizon National by 11.9% in the 2nd quarter. CNA Financial Corp now owns 64,800 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 6,900 shares during the period. Sei Investments Co. increased its stake in First Horizon National by 4.6% in the 2nd quarter. Sei Investments Co. now owns 63,199 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 2,761 shares during the period. Icon Advisers Inc. Co. acquired a new position in First Horizon National in the 2nd quarter valued at $620,000. Finally, JPMorgan Chase & Co. grew its stake in shares of First Horizon National by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,666,134 shares of the financial services provider’s stock worth $116,124,000 after purchasing an additional 258,298 shares during the period. Institutional investors and hedge funds own 88.97% of the company’s stock.
Several equities research analysts recently commented on FHN shares. Zacks Investment Research upgraded shares of First Horizon National from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, September 18th. JPMorgan Chase & Co. restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a report on Wednesday, September 13th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 target price on shares of First Horizon National in a report on Tuesday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $19.50 price objective on shares of First Horizon National in a report on Wednesday, September 27th. Finally, Barclays reissued an “equal weight” rating and set a $21.00 target price on shares of First Horizon National in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. First Horizon National presently has a consensus rating of “Hold” and an average price target of $21.25.
Shares of First Horizon National Corporation (FHN) traded up $0.07 on Tuesday, reaching $20.06. The company had a trading volume of 2,798,700 shares, compared to its average volume of 2,443,200. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.92. The company has a market capitalization of $4,682.27, a PE ratio of 17.91, a PEG ratio of 2.57 and a beta of 1.03. First Horizon National Corporation has a 52-week low of $15.84 and a 52-week high of $20.86.
First Horizon National (NYSE:FHN) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. First Horizon National had a return on equity of 9.40% and a net margin of 19.36%. The company had revenue of $337.00 million for the quarter, compared to analyst estimates of $340.48 million. During the same period last year, the company earned $0.27 earnings per share. sell-side analysts predict that First Horizon National Corporation will post 1.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, November 3rd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, November 2nd. First Horizon National’s payout ratio is 32.14%.
In related news, Director R Brad Martin sold 5,449 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $19.25, for a total value of $104,893.25. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.09% of the stock is currently owned by company insiders.
First Horizon National 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.
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