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

Summit Global Investments bought a new stake in shares of Simmons First National Corporation (NASDAQ:SFNC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 39,318 shares of the bank’s stock, valued at approximately $754,000.

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

Analyst Ratings Changes

A number of research analysts have issued reports on SFNC shares. Robert W. Baird raised shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Piper Sandler upgraded Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Keefe, Bruyette & Woods decreased their price objective on Simmons First National from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Monday, October 20th. Morgan Stanley lifted their target price on Simmons First National from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Simmons First National from a “sell” rating to a “hold” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.43.

Simmons First National Stock Up 0.0%

Shares of SFNC stock opened at $20.33 on Friday. Simmons First National Corporation has a 1 year low of $17.00 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average is $19.27 and its 200-day moving average is $19.25. The stock has a market cap of $2.94 billion, a PE ratio of -7.34 and a beta of 0.89.

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Tuesday, January 20th. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. Simmons First National had a positive return on equity of 6.73% and a negative net margin of 27.83%.The business had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $238.68 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a $0.2125 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.85 annualized dividend and a dividend yield of 4.2%. Simmons First National’s payout ratio is currently -30.69%.

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.