Covenant Multifamily Offices LLC acquired a new position in Simmons First National Co. (NASDAQ:SFNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,798 shares of the bank’s stock, valued at approximately $5,127,000. Simmons First National makes up about 3.4% of Covenant Multifamily Offices LLC’s investment portfolio, making the stock its 6th biggest position. Covenant Multifamily Offices LLC owned about 0.20% of Simmons First National as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in Simmons First National by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,349 shares of the bank’s stock worth $1,235,000 after acquiring an additional 588 shares during the last quarter. California Public Employees Retirement System raised its stake in Simmons First National by 5.1% in the 2nd quarter. California Public Employees Retirement System now owns 16,400 shares of the bank’s stock worth $868,000 after acquiring an additional 800 shares during the last quarter. Victory Capital Management Inc. raised its stake in Simmons First National by 28.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,094 shares of the bank’s stock worth $237,000 after acquiring an additional 912 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Simmons First National by 7.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,473 shares of the bank’s stock worth $819,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Strs Ohio raised its stake in Simmons First National by 1.5% in the 4th quarter. Strs Ohio now owns 76,100 shares of the bank’s stock worth $4,345,000 after acquiring an additional 1,100 shares during the last quarter. 51.33% of the stock is owned by hedge funds and other institutional investors.
Simmons First National Co. (NASDAQ:SFNC) opened at $28.40 on Wednesday. The firm has a market capitalization of $2,670.38, a PE ratio of 17.16 and a beta of 1.16. Simmons First National Co. has a 52 week low of $24.88 and a 52 week high of $30.55. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.01 and a current ratio of 1.01.
Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $163.55 million during the quarter, compared to analyst estimates of $155.80 million. Simmons First National had a return on equity of 8.28% and a net margin of 17.41%. equities research analysts expect that Simmons First National Co. will post 2.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.11%. Simmons First National’s payout ratio is currently 36.50%.
In related news, insider Vernon Wilson Jr. Bryant sold 22,888 shares of Simmons First National stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $54.87, for a total value of $1,255,864.56. Following the completion of the transaction, the insider now owns 211,353 shares in the company, valued at approximately $11,596,939.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher R. Kirkland sold 160,000 shares of Simmons First National stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $57.11, for a total value of $9,137,600.00. Following the completion of the transaction, the director now owns 76,949 shares of the company’s stock, valued at approximately $4,394,557.39. The disclosure for this sale can be found here. Insiders have sold a total of 402,888 shares of company stock valued at $23,019,365 in the last quarter. Company insiders own 4.63% of the company’s stock.
A number of equities analysts recently issued reports on SFNC shares. BidaskClub upgraded Simmons First National from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Jaffray Companies set a $30.00 target price on Simmons First National and gave the stock a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research lowered Simmons First National from a “buy” rating to a “sell” rating in a research note on Friday, October 27th. Finally, Sandler O’Neill upgraded Simmons First National from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Simmons First National has an average rating of “Hold” and a consensus target price of $31.90.
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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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