BlackRock Inc. lowered its position in shares of Simmons First National Co. (NASDAQ:SFNC) by 0.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,547,790 shares of the bank’s stock after selling 13,673 shares during the period. BlackRock Inc. owned about 14.64% of Simmons First National worth $331,650,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of Simmons First National in the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Simmons First National in the 4th quarter valued at about $35,000. Versant Capital Management Inc grew its position in shares of Simmons First National by 56.6% in the 1st quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $46,000 after buying an additional 685 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Simmons First National in the 1st quarter valued at about $89,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Simmons First National by 61.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the bank’s stock valued at $99,000 after buying an additional 1,556 shares during the last quarter. Hedge funds and other institutional investors own 20.92% of the company’s stock.
In other news, CEO George Makris, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $24.39 per share, with a total value of $121,950.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick A. Burrow purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average cost of $25.30 per share, for a total transaction of $25,300.00. The disclosure for this purchase can be found here. Insiders bought a total of 7,000 shares of company stock worth $171,860 over the last three months. 2.02% of the stock is owned by company insiders.
Shares of NASDAQ:SFNC opened at $23.34 on Thursday. The stock has a market capitalization of $2.25 billion, a PE ratio of 9.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.00. Simmons First National Co. has a 1 year low of $22.64 and a 1 year high of $32.45.
Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $170.79 million during the quarter, compared to analyst estimates of $171.00 million. Simmons First National had a net margin of 25.17% and a return on equity of 9.76%. On average, equities research analysts forecast that Simmons First National Co. will post 2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, June 14th. Simmons First National’s dividend payout ratio is 27.00%.
A number of research firms have commented on SFNC. Stephens set a $31.00 price target on Simmons First National and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Zacks Investment Research downgraded Simmons First National from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub raised Simmons First National from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Robert W. Baird initiated coverage on Simmons First National in a research note on Wednesday, April 10th. They issued a “hold” rating and a $27.00 price objective on the stock. Finally, DA Davidson initiated coverage on Simmons First National in a research note on Friday, March 15th. They issued a “buy” rating and a $31.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.20.
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Simmons First National Profile
Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.
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