Simmons Bank Purchases 175,716 Shares of Simmons First National Co. (NASDAQ:SFNC)

Simmons Bank grew its position in Simmons First National Co. (NASDAQ:SFNC) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,977,793 shares of the bank’s stock after buying an additional 175,716 shares during the quarter. Simmons First National accounts for approximately 3.2% of Simmons Bank’s holdings, making the stock its 3rd biggest holding. Simmons Bank owned 1.58% of Simmons First National worth $39,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Simmons First National by 131.8% during the 4th quarter. Victory Capital Management Inc. now owns 475,239 shares of the bank’s stock worth $9,429,000 after purchasing an additional 270,255 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Simmons First National during the 3rd quarter valued at $2,041,000. Walleye Capital LLC purchased a new position in shares of Simmons First National in the 3rd quarter worth $1,951,000. Charles Schwab Investment Management Inc. increased its stake in Simmons First National by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,534,377 shares of the bank’s stock worth $26,023,000 after acquiring an additional 93,507 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in Simmons First National during the 3rd quarter worth approximately $1,278,000. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Simmons First National Stock Performance

SFNC stock traded up $0.11 on Wednesday, reaching $17.94. The company’s stock had a trading volume of 95,045 shares, compared to its average volume of 497,780. Simmons First National Co. has a 52 week low of $13.36 and a 52 week high of $20.82. The firm has a fifty day moving average of $18.57 and a two-hundred day moving average of $18.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $2.25 billion, a P/E ratio of 13.41 and a beta of 0.90.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $202.35 million. Simmons First National had a net margin of 11.97% and a return on equity of 5.94%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. As a group, analysts predict that Simmons First National Co. will post 1.33 EPS for the current fiscal year.

Simmons First National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.21 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 4.68%. Simmons First National’s dividend payout ratio (DPR) is presently 63.16%.

Analyst Upgrades and Downgrades

SFNC has been the subject of several research reports. StockNews.com downgraded shares of Simmons First National from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Simmons First National from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Stephens lowered their price objective on Simmons First National from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird lifted their price objective on shares of Simmons First National from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.00.

Insider Buying and Selling

In related news, EVP George A. Makris III sold 15,625 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $269,218.75. Following the completion of the sale, the executive vice president now directly owns 39,707 shares of the company’s stock, valued at approximately $684,151.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.91% of the company’s stock.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.