First Mercantile Trust Co adds First Horizon National Corp (FHN) to its portfolio

First Horizon National Corp (FHN) : First Mercantile Trust Co added new position in First Horizon National Corp during the most recent quarter end. The investment management firm now holds 54,000 shares of First Horizon National Corp which is valued at $844,020 , the company said in a statement filed on Oct 7, 2016 with the SEC.First Horizon National Corp makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network reduced its stake in FHN by selling 262 shares or 8.35% in the most recent quarter. The Hedge Fund company now holds 2,876 shares of FHN which is valued at $44,952. First Horizon National Corp makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FHN by selling 88,602 shares or 71.9% in the most recent quarter. The Hedge Fund company now holds 34,633 shares of FHN which is valued at $543,738. Independent Portfolio Consultants added FHN to its portfolio by purchasing 755 company shares during the most recent quarter which is valued at $11,854.

First Horizon National Corp closed down -0.01 points or -0.06% at $15.63 with 18,11,983 shares getting traded on Friday. Post opening the session at $15.59, the shares hit an intraday low of $15.46 and an intraday high of $15.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Many Wall Street Analysts have commented on First Horizon National Corp. Hovde Group Downgraded First Horizon National Corp on Sep 26, 2016 to ” Market Perform”, Price Target of the shares are set at $16.50.First Horizon National Corp was Downgraded by Wells Fargo to ” Underperform” on Aug 23, 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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