(NYSE:FHN) shares saw heavy trading volume with 4,098K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 119.41% over the normal average daily volume.
Traders are feeling more bearish on First Horizon National Corporat of late if you watch the uptick in short interest. The stock realized a rise in short interest of 22.70% as of September 29, 2017 from the last reporting period. Short interest increased 4,103,178 over that period. With short interest at 22,181,237 and short average daily volume at 3,615,581, the short-interest ratio is 6.0 and the percentage of shorted shares was 0.10% on September 29.
There has been some selling insider activity on First Horizon National Corporat (NYSE:FHN) recently. William C. Iii Losch, EVP disclosed the sale of 3,500 shares. The shares were purchased at an average price of $18.51. Losch now owns $4,264,519 of the stock according to the SEC filing.
A few notable investment firms have updated their holdings. Northwestern Mutual Investment Management Company, LLC downsized its holdings by selling 28 shares a decrease of 0.1% in the quarter. Northwestern Mutual Investment Management Company, LLC now controls 40,242 shares valued at $701,000. The total value of its holdings decreased 5.9%. As of quarter end Ubs Group Ag had acquired a total of 24,239 shares growing its position 37.4%. The value in dollars increased from $1,199,000 to $1,551,000 a change of 29.4% quarter to quarter.
Engineers Gate Manager Lp bolstered its investment by buying 64,044 shares an increase of 81.8%. Engineers Gate Manager Lp controls 142,372 shares with a value of $2,480,000. The value of the position overall is up by 58.3%. As of the end of the quarter Janus Capital Management LLC had bought 148,600 shares growing its holdings by 127.8%. The value of the total investment in First Horizon National Corporat went from $2,327,000 to $4,901,000 a change of $2,574,000 quarter over quarter.
On August 10, 2017 the stock rating was rated “Outperform” by Raymond James which was a boost from the previous “Market Perform” rating.
The company is up by 0.58%% since yesterday’s close of 18.81. The company also declared a dividend that was paid on Monday October 2nd, 2017. The dividend was $0.090 per share for the quarter which is $0.36 annualized. The dividend yield was $1.88. The ex-dividend date was Thursday the 7th of September 2017.
It is currently trading at $18.92 which is marginally over $17.97, the 50 day moving average and just above the 200 day moving average of $17.78. The 50 day moving average moved up $0.95 whereas the 200 day moving average was up $1.14 or +6.40%.
The company’s P/E ratio is 17.05 and the market cap of the company is 4.43B. As of the latest earnings report the EPS was $1.11 and is estimated to be $1.10 for the current year with 234,135,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.31 and the next full year EPS is anticipated to be $1.30.
First Horizon National Corporation (FHN), launched on September 23, 1968, is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank). The Company operates through four segments: regional banking, fixed income, corporate and non-strategic. As of December 31, 2016, FHN’s subsidiaries had over 200 business locations in 21 states of the United States, excluding off-premises automated teller machine (ATMs). As of December 31, 2016, the Bank had 169 branch locations in eight states: 153 branches in Tennessee; one branch in northwestern Georgia; five branches in northwestern Mississippi; six branches in North Carolina, and one branch each in Virginia, South Carolina, Florida and Texas..