JPMorgan Chase & Co. decreased its holdings in Simmons First National Co. (NASDAQ:SFNC) by 48.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,635 shares of the bank’s stock after selling 43,584 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of Simmons First National worth $2,702,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Riverhead Capital Management LLC increased its holdings in Simmons First National by 63.9% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the bank’s stock valued at $113,000 after buying an additional 831 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Simmons First National by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,182 shares of the bank’s stock valued at $168,000 after purchasing an additional 476 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Simmons First National by 3.8% during the second quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock valued at $218,000 after purchasing an additional 151 shares during the last quarter. Ifrah Financial Services Inc. bought a new position in shares of Simmons First National during the third quarter valued at approximately $246,000. Finally, SG Americas Securities LLC bought a new position in shares of Simmons First National during the third quarter valued at approximately $278,000. Institutional investors and hedge funds own 51.33% of the company’s stock.
Shares of Simmons First National Co. (NASDAQ:SFNC) opened at $59.50 on Friday. The stock has a market capitalization of $2,740.00, a price-to-earnings ratio of 18.83 and a beta of 1.14. Simmons First National Co. has a 1-year low of $49.75 and a 1-year high of $61.95. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.47.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. Simmons First National’s payout ratio is currently 31.65%.
SFNC has been the subject of several recent research reports. Zacks Investment Research raised Simmons First National from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, October 3rd. BidaskClub raised Simmons First National from a “sell” rating to a “hold” rating in a report on Thursday. Sandler O’Neill set a $63.00 price objective on Simmons First National and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies set a $60.00 price objective on Simmons First National and gave the stock a “hold” rating in a report on Thursday, November 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.80.
In other Simmons First National news, insider Vernon Wilson Jr. Bryant sold 22,888 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $54.87, for a total transaction of $1,255,864.56. Following the transaction, the insider now directly owns 211,353 shares of the company’s stock, valued at $11,596,939.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher R. Kirkland sold 160,000 shares of the 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 transaction, the director now directly owns 76,949 shares in the company, valued at $4,394,557.39. The disclosure for this sale can be found here. Insiders sold 349,122 shares of company stock valued at $19,827,028 in the last 90 days. Corporate insiders own 4.63% of the company’s stock.
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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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