First Trust Advisors LP increased its position in shares of Simmons First National Co. (NASDAQ:SFNC) by 38.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,680 shares of the bank’s stock after purchasing an additional 115,375 shares during the period. First Trust Advisors LP’s holdings in Simmons First National were worth $6,591,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Federated Hermes Inc. grew its position in Simmons First National by 1,856.0% in the second quarter. Federated Hermes Inc. now owns 1,780 shares of the bank’s stock worth $31,000 after buying an additional 1,689 shares during the last quarter. Private Advisor Group LLC acquired a new position in Simmons First National during the 2nd quarter worth $53,000. Marshall Wace North America L.P. acquired a new position in Simmons First National during the 1st quarter worth $59,000. PNC Financial Services Group Inc. lifted its position in Simmons First National by 16.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,533 shares of the bank’s stock worth $78,000 after acquiring an additional 625 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in Simmons First National by 15.1% during the 2nd quarter. Macquarie Group Ltd. now owns 6,562 shares of the bank’s stock worth $112,000 after acquiring an additional 862 shares during the last quarter. 25.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Simmons First National from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. TheStreet raised shares of Simmons First National from a “c+” rating to a “b-” rating in a research note on Thursday. DA Davidson lowered shares of Simmons First National from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, October 20th. Zacks Investment Research lowered shares of Simmons First National from a “buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Finally, BidaskClub upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Simmons First National presently has an average rating of “Hold” and an average price target of $21.25.
NASDAQ SFNC opened at $19.84 on Friday. The firm has a 50-day moving average of $17.61 and a 200-day moving average of $16.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $2.16 billion, a PE ratio of 8.59 and a beta of 0.99. Simmons First National Co. has a 52-week low of $13.75 and a 52-week high of $27.29.
Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings data on Monday, October 19th. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.21. Simmons First National had a net margin of 24.39% and a return on equity of 9.37%. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, analysts predict that Simmons First National Co. will post 2.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, December 14th. Simmons First National’s dividend payout ratio (DPR) is presently 24.91%.
About Simmons First National
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; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; insurance products; and securities and investment services.
Further Reading: What is intrinsic value?
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