First Horizon National Corporation (FHN) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 11,593,620 to 11,100,069 shares, with 7 days to go before the expiry. The short open interest has decreased by -4.3%, amounting to a reduction of -493,551 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.9% of the float of the company. The average daily volume of the stock is 1,648,012 shares. The short interest information was released on Wednesday Aug 24th after the market close.
First Horizon National Corporation (NYSE:FHN): The stock opened at $15.06 on Wednesday but the bulls could not build on the opening and the stock topped out at $15.08 for the day. The stock traded down to $14.88 during the day, due to lack of any buying support eventually closed down at $14.91 with a loss of -0.73% for the day. The stock had closed at $15.02 on the previous day. The total traded volume was 2,086,234 shares.
In a related news, Martin R Brad, director of First Horizon National Corp had purchased 533 shares on June 10, 2016 in a transaction. The price per share was $26.12 and the total amount of the disclosed transaction was $13,922.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
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, FHNs 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.