Summit Asset Management Lowers stake in First Horizon National Corp (FHN)

First Horizon National Corp (FHN) : Summit Asset Management reduced its stake in First Horizon National Corp by 2.42% during the most recent quarter end. The investment management company now holds a total of 99,448 shares of First Horizon National Corp which is valued at $1,480,781 after selling 2,464 shares in First Horizon National Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.First Horizon National Corp makes up approximately 0.65% of Summit Asset Management’s portfolio.

Other Hedge Funds, Including , Blair William Coil boosted its stake in FHN in the latest quarter, The investment management firm added 1,341 additional shares and now holds a total of 15,693 shares of First Horizon National Corp which is valued at $233,669.Fuller Thaler Asset Management boosted its stake in FHN in the latest quarter, The investment management firm added 905,461 additional shares and now holds a total of 5,455,922 shares of First Horizon National Corp which is valued at $82,275,304. First Horizon National Corp makes up approx 1.34% of Fuller Thaler Asset Management’s portfolio.Hl Financial Services boosted its stake in FHN in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 14,911 shares of First Horizon National Corp which is valued at $219,192. First Horizon National Corp makes up approx 0.01% of Hl Financial Services’s portfolio.Kelman-lazarov reduced its stake in FHN by selling 3 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 4,438 shares of FHN which is valued at $64,839. First Horizon National Corp makes up approx 0.04% of Kelman-lazarov’s portfolio.Creative Planning boosted its stake in FHN in the latest quarter, The investment management firm added 1,434 additional shares and now holds a total of 4,665 shares of First Horizon National Corp which is valued at $66,430.

First Horizon National Corp opened for trading at $15.01 and hit $15.2 on the upside on Monday, eventually ending the session at $15.19, with a gain of 1.67% or 0.25 points. The heightened volatility saw the trading volume jump to 14,66,451 shares. Company has a market cap of $3,524 M.

On the company’s financial health, First Horizon National Corp reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $0.23. The company had revenue of $321.80 million for the quarter, compared to analysts expectations of $315.46 million. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Investors should note that on Jul 26, 2016, First Horizon National Corp announced a cash dividend of $0.0700. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

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). FHN operates through four segments: regional banking capital markets corporate and non-strategic. As of December 31 2014 FHN’s subsidiaries had over 200 business locations in the United States and Hong Kong. As of December 31 2014 the Bank had 182 branch locations in seven states: 168 branches in Tennessee; 2 branches in northwestern Georgia; 7 branches in northwestern Mississippi; 2 branches in North Carolina and one branch each in Virginia South Carolina and Florida. At December 31 2014 FTN Financial products and services were offered through 27 offices in total including 26 offices in 16 states across the United States plus an office in Hong Kong.

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