Northern Trust Corp boosted its stake in Simmons First National Co. (NASDAQ:SFNC) by 115.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376,605 shares of the bank’s stock after acquiring an additional 736,188 shares during the period. Northern Trust Corp owned 1.49% of Simmons First National worth $39,164,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Simmons First National by 184.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,820 shares of the bank’s stock valued at $137,000 after acquiring an additional 3,123 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Simmons First National in the first quarter valued at $155,000. Neuburgh Advisers LLC raised its holdings in Simmons First National by 150.5% in the first quarter. Neuburgh Advisers LLC now owns 8,016 shares of the bank’s stock valued at $228,000 after acquiring an additional 4,816 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in Simmons First National in the first quarter valued at $232,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Simmons First National in the fourth quarter valued at $242,000. 28.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:SFNC opened at $31.55 on Friday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 16.64 and a beta of 1.15. Simmons First National Co. has a 1-year low of $24.98 and a 1-year high of $33.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.
Simmons First National (NASDAQ:SFNC) last issued its earnings results on Monday, April 23rd. The bank reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $172.50 million for the quarter, compared to analysts’ expectations of $171.50 million. Simmons First National had a net margin of 19.70% and a return on equity of 8.92%. equities research analysts anticipate that Simmons First National Co. will post 2.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.90%. Simmons First National’s dividend payout ratio (DPR) is 35.09%.
In related news, insider Vernon Wilson Jr. Bryant sold 50,000 shares of the stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $30.36, for a total value of $1,518,000.00. Following the sale, the insider now owns 261,706 shares of the company’s stock, valued at approximately $7,945,394.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert A. Fehlman sold 21,546 shares of the stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $30.32, for a total transaction of $653,274.72. Following the completion of the sale, the chief financial officer now directly owns 83,260 shares in the company, valued at approximately $2,524,443.20. The disclosure for this sale can be found here. Insiders have sold 199,371 shares of company stock worth $6,043,331 over the last three months. 2.76% of the stock is owned by corporate insiders.
Several research firms recently issued reports on SFNC. BidaskClub raised shares of Simmons First National from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of Simmons First National from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday. ValuEngine raised shares of Simmons First National from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Piper Jaffray Companies set a $33.00 target price on shares of Simmons First National and gave the stock a “hold” rating in a report on Tuesday, April 24th. Finally, Sandler O’Neill set a $35.00 target price on shares of Simmons First National and gave the stock a “buy” rating in a report on Tuesday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $34.00.
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; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.
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