Nicholas Company Inc. Acquires 33,470 Shares of First Horizon National Corp (FHN)
Nicholas Company Inc. lifted its holdings in First Horizon National Corp (NYSE:FHN) by 9.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 370,840 shares of the financial services provider’s stock after purchasing an additional 33,470 shares during the period. Nicholas Company Inc.’s holdings in First Horizon National were worth $4,880,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Enlightenment Research LLC bought a new position in shares of First Horizon National in the 4th quarter worth approximately $50,000. Toronto Dominion Bank bought a new position in shares of First Horizon National in the 4th quarter worth approximately $73,000. ETF Managers Group LLC lifted its stake in shares of First Horizon National by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 6,922 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 942 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of First Horizon National in the 4th quarter worth approximately $105,000. Finally, Advisor Group Inc. lifted its stake in shares of First Horizon National by 192.8% in the 4th quarter. Advisor Group Inc. now owns 9,492 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 6,250 shares during the period. Hedge funds and other institutional investors own 87.73% of the company’s stock.
Several brokerages have recently weighed in on FHN. Raymond James cut shares of First Horizon National from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Bank of America cut shares of First Horizon National from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Robert W. Baird began coverage on shares of First Horizon National in a research note on Thursday, December 20th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of First Horizon National from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Finally, TheStreet cut shares of First Horizon National from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $20.15.
First Horizon National (NYSE:FHN) last released its earnings results on Friday, January 18th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Horizon National had a return on equity of 10.22% and a net margin of 24.02%. The firm had revenue of $412.80 million for the quarter, compared to the consensus estimate of $443.30 million. During the same quarter in the previous year, the business posted ($0.20) EPS. First Horizon National’s revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that First Horizon National Corp will post 1.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.14 per share. This is a boost from First Horizon National’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.74%. First Horizon National’s dividend payout ratio (DPR) is presently 34.04%.
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About First Horizon National
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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