Summit Global Investments Purchases Shares of 39,318 Simmons First National Corporation $SFNC

Summit Global Investments acquired a new position in shares of Simmons First National Corporation (NASDAQ:SFNC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,318 shares of the bank’s stock, valued at approximately $754,000.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Simmons First National by 27.2% during the first quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock valued at $1,820,000 after purchasing an additional 18,933 shares during the last quarter. AQR Capital Management LLC raised its holdings in Simmons First National by 271.3% during the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock worth $3,261,000 after buying an additional 116,072 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Simmons First National by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock valued at $1,516,000 after buying an additional 3,221 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Simmons First National by 3,624.6% during the first quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock valued at $268,000 after buying an additional 12,686 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Simmons First National by 1,288.2% in the first quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after buying an additional 16,746 shares during the period. 27.58% of the stock is currently owned by institutional investors and hedge funds.

Simmons First National Stock Performance

Shares of NASDAQ SFNC opened at $20.33 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.88. Simmons First National Corporation has a one year low of $17.00 and a one year high of $23.44. The business’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $19.25. The company has a market capitalization of $2.94 billion, a P/E ratio of -7.34 and a beta of 0.89.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Tuesday, January 20th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. The business had revenue of $249.00 million during the quarter, compared to analyst estimates of $238.68 million. Simmons First National had a positive return on equity of 6.73% and a negative net margin of 27.83%.The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. Analysts anticipate that Simmons First National Corporation will post 1.66 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were issued a dividend of $0.2125 per share. The ex-dividend date was Monday, December 15th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.2%. Simmons First National’s dividend payout ratio (DPR) is currently -30.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SFNC. Robert W. Baird upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Zacks Research raised shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. National Bankshares set a $21.00 target price on Simmons First National in a report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Simmons First National in a report on Monday, December 29th. Finally, Morgan Stanley upped their price target on Simmons First National from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Simmons First National has an average rating of “Moderate Buy” and a consensus target price of $22.43.

Simmons First National Company Profile

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.