Bank of New York Mellon Corp grew its stake in Simmons First National Co. (NASDAQ:SFNC) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 407,214 shares of the bank’s stock after purchasing an additional 5,576 shares during the period. Bank of New York Mellon Corp owned approximately 1.27% of Simmons First National worth $23,579,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Eaton Vance Management increased its holdings in shares of Simmons First National by 8.5% in the second quarter. Eaton Vance Management now owns 62,197 shares of the bank’s stock valued at $3,290,000 after purchasing an additional 4,885 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Simmons First National in the second quarter valued at approximately $341,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Simmons First National in the third quarter valued at approximately $368,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Simmons First National in the third quarter valued at approximately $21,454,000. Finally, BlackRock Inc. boosted its stake in shares of Simmons First National by 1.2% in the second quarter. BlackRock Inc. now owns 3,702,665 shares of the bank’s stock valued at $195,871,000 after buying an additional 42,981 shares in the last quarter. 51.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Simmons First National Co. (SFNC) opened at $55.20 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2,540.00, a price-to-earnings ratio of 16.61 and a beta of 1.14. Simmons First National Co. has a 12-month low of $49.75 and a 12-month high of $63.70.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. Simmons First National’s payout ratio is 31.65%.
A number of analysts recently weighed in on the company. Piper Jaffray Companies set a $60.00 price target on Simmons First National and gave the company a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research downgraded Simmons First National from a “buy” rating to a “sell” rating in a research note on Friday, October 27th. Sandler O’Neill restated a “hold” rating and issued a $62.00 price target on shares of Simmons First National in a research note on Tuesday, October 24th. Finally, BidaskClub downgraded Simmons First National from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $62.40.
In other Simmons First National news, Director Christopher R. Kirkland sold 160,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $57.11, for a total transaction of $9,137,600.00. Following the sale, the director now directly owns 76,949 shares in the company, valued at $4,394,557.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry K. Ledbetter sold 1,900 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $57.37, for a total value of $109,003.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 522,177 shares of company stock worth $29,366,083. 4.63% of the stock is owned by company insiders.
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Simmons First National Profile
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.
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