Bank of New York Mellon Corp cut its position in shares of Simmons First National Corporation (NASDAQ:SFNC – Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,215,467 shares of the bank’s stock after selling 18,124 shares during the period. Bank of New York Mellon Corp owned approximately 0.97% of Simmons First National worth $24,954,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Simmons First National in the 4th quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Simmons First National during the 4th quarter worth $36,000. Quarry LP purchased a new position in Simmons First National during the 4th quarter worth $47,000. Sterling Capital Management LLC increased its holdings in Simmons First National by 813.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank’s stock worth $87,000 after purchasing an additional 3,483 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Simmons First National during the 4th quarter worth $114,000. 27.58% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
SFNC has been the topic of a number of analyst reports. Piper Sandler upgraded Simmons First National from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $21.00 in a report on Monday, April 21st. Stephens lowered their price target on Simmons First National from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Simmons First National from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Monday, April 21st.
Simmons First National Price Performance
Shares of Simmons First National stock opened at $19.49 on Thursday. Simmons First National Corporation has a twelve month low of $17.20 and a twelve month high of $25.95. The business has a 50-day moving average price of $19.24 and a 200 day moving average price of $20.24. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.45 billion, a PE ratio of 16.80 and a beta of 0.92.
Simmons First National (NASDAQ:SFNC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The company had revenue of $209.58 million during the quarter, compared to analysts’ expectations of $209.00 million. Simmons First National had a net margin of 10.10% and a return on equity of 4.86%. During the same quarter last year, the company earned $0.32 earnings per share. Sell-side analysts predict that Simmons First National Corporation will post 1.66 earnings per share for the current fiscal year.
Simmons First National Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.36%. Simmons First National’s dividend payout ratio (DPR) is presently 73.28%.
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.
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