New York State Common Retirement Fund boosted its holdings in shares of Simmons First National Co. (NASDAQ:SFNC) by 100.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,352 shares of the bank’s stock after purchasing an additional 42,676 shares during the period. New York State Common Retirement Fund’s holdings in Simmons First National were worth $2,428,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in SFNC. BlackRock Inc. increased its stake in shares of Simmons First National by 102.2% in the 1st quarter. BlackRock Inc. now owns 10,559,267 shares of the bank’s stock valued at $300,411,000 after buying an additional 5,336,529 shares during the period. Northern Trust Corp increased its stake in shares of Simmons First National by 115.0% in the 1st quarter. Northern Trust Corp now owns 1,376,605 shares of the bank’s stock valued at $39,164,000 after buying an additional 736,188 shares during the period. King Luther Capital Management Corp increased its stake in shares of Simmons First National by 98.2% in the 1st quarter. King Luther Capital Management Corp now owns 1,339,678 shares of the bank’s stock valued at $38,114,000 after buying an additional 663,813 shares during the period. Newport Trust Co increased its stake in shares of Simmons First National by 93.5% in the 1st quarter. Newport Trust Co now owns 1,358,765 shares of the bank’s stock valued at $38,657,000 after buying an additional 656,651 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Simmons First National in the 4th quarter valued at $28,447,000. 28.12% of the stock is owned by hedge funds and other institutional investors.
Simmons First National opened at $31.05 on Monday, MarketBeat reports. Simmons First National Co. has a 12-month low of $24.98 and a 12-month 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. The firm has a market capitalization of $2.89 billion, a PE ratio of 18.16 and a beta of 1.15.
Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Monday, April 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Simmons First National had a return on equity of 8.92% and a net margin of 19.70%. The business had revenue of $172.50 million for the quarter, compared to analyst estimates of $171.50 million. analysts forecast that Simmons First National Co. will post 2.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Friday, June 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.93%. Simmons First National’s dividend payout ratio is currently 35.09%.
Several research firms have recently commented on SFNC. BidaskClub raised Simmons First National from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research upgraded Simmons First National from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, June 12th. ValuEngine upgraded Simmons First National from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Piper Jaffray Companies set a $33.00 price target on Simmons First National and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Finally, Sandler O’Neill set a $35.00 price target on Simmons First National and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $34.00.
In other Simmons First National news, CAO David W. Garner sold 1,380 shares of Simmons First National stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $30.50, for a total transaction of $42,090.00. Following the transaction, the chief accounting officer now directly owns 29,972 shares in the company, valued at $914,146. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jay D. Burchfield sold 20,000 shares of Simmons First National stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $29.96, for a total value of $599,200.00. Following the transaction, the director now owns 89,934 shares in the company, valued at $2,694,422.64. The disclosure for this sale can be found here. Insiders sold a total of 199,371 shares of company stock worth $6,043,331 over the last 90 days. 2.76% of the stock is owned by corporate insiders.
Simmons First National Company Profile
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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