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The Independent Director of First Horizon National Corporation (NYSE:FHN), Scott Niswonger, Just Bought 14% More Shares

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·3 min read
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First Horizon National Corporation (NYSE:FHN) shareholders (or potential shareholders) will be happy to see that the Independent Director, Scott Niswonger, recently bought a whopping US$908k worth of stock, at a price of US$9.08. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 14%.

Check out our latest analysis for First Horizon National

First Horizon National Insider Transactions Over The Last Year

Notably, that recent purchase by Scott Niswonger is the biggest insider purchase of First Horizon National shares that we've seen in the last year. That implies that an insider found the current price of US$9.94 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.

While First Horizon National insiders bought shares last year, they didn't sell. The chart below shows insider transactions (by individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

NYSE:FHN Recent Insider Trading, March 15th 2020
NYSE:FHN Recent Insider Trading, March 15th 2020

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership of First Horizon National

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. First Horizon National insiders own about US$49m worth of shares. That equates to 1.6% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At First Horizon National Tell Us?

The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest First Horizon National insiders are well aligned, and that they may think the share price is too low. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Every company has risks, and we've spotted 2 warning signs for First Horizon National you should know about.

But note: First Horizon National may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.