Bank of New York Mellon Corp Trims Holdings in Simmons First National Corporation $SFNC

Bank of New York Mellon Corp cut its holdings in Simmons First National Corporation (NASDAQ:SFNC) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,538,824 shares of the bank’s stock after selling 62,298 shares during the quarter. Bank of New York Mellon Corp’s holdings in Simmons First National were worth $29,930,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SFNC. Fifth Third Bancorp raised its position in Simmons First National by 17,016.7% during the 1st quarter. Fifth Third Bancorp now owns 125,294 shares of the bank’s stock worth $2,437,000 after buying an additional 124,562 shares during the last quarter. Naviter Wealth LLC boosted its stake in shares of Simmons First National by 238.5% in the fourth quarter. Naviter Wealth LLC now owns 39,461 shares of the bank’s stock valued at $752,000 after buying an additional 27,803 shares in the last quarter. Geode Capital Management LLC grew its holdings in Simmons First National by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 3,558,574 shares of the bank’s stock worth $67,090,000 after acquiring an additional 53,994 shares during the period. Burney Co. grew its holdings in Simmons First National by 22.0% during the fourth quarter. Burney Co. now owns 261,687 shares of the bank’s stock worth $4,933,000 after acquiring an additional 47,248 shares during the period. Finally, Vanguard Group Inc. raised its position in Simmons First National by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,471,523 shares of the bank’s stock worth $310,488,000 after acquiring an additional 51,914 shares in the last quarter. 27.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SFNC. Stephens boosted their price objective on shares of Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. National Bank Financial set a $25.00 price objective on Simmons First National in a research note on Monday, July 20th. Morgan Stanley reaffirmed a “positive” rating on shares of Simmons First National in a report on Monday, June 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Simmons First National in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Simmons First National from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Simmons First National Price Performance

Shares of NASDAQ SFNC opened at $23.18 on Monday. Simmons First National Corporation has a 1 year low of $17.00 and a 1 year high of $23.91. The firm has a market cap of $3.36 billion, a P/E ratio of -9.16 and a beta of 0.90. The firm’s 50 day moving average price is $22.19 and its 200 day moving average price is $20.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.93.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). The business had revenue of $248.57 million for the quarter, compared to analyst estimates of $250.98 million. Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.Simmons First National’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that Simmons First National Corporation will post 2.05 earnings per share for the current year.

Simmons First National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.215 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.86 annualized dividend and a dividend yield of 3.7%. Simmons First National’s dividend payout ratio (DPR) is currently -33.99%.

Simmons First National 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.