Bank of America Corp DE Has $5.98 Million Stock Position in Simmons First National Co. (NASDAQ:SFNC)

Bank of America Corp DE lowered its stake in Simmons First National Co. (NASDAQ:SFNC - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 269,448 shares of the bank's stock after selling 39,238 shares during the period. Bank of America Corp DE owned 0.21% of Simmons First National worth $5,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SFNC. Jones Financial Companies Lllp acquired a new position in Simmons First National in the 4th quarter worth $29,000. Quarry LP bought a new position in shares of Simmons First National in the 4th quarter valued at about $47,000. Smartleaf Asset Management LLC grew its holdings in shares of Simmons First National by 168.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,144 shares of the bank's stock valued at $48,000 after acquiring an additional 1,345 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Simmons First National by 813.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock worth $87,000 after purchasing an additional 3,483 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Simmons First National during the fourth quarter worth about $114,000. Institutional investors and hedge funds own 27.58% of the company's stock.

Simmons First National Price Performance

Shares of NASDAQ SFNC traded down $0.09 during midday trading on Friday, reaching $18.80. The company's stock had a trading volume of 491,155 shares, compared to its average volume of 615,884. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.79 and a current ratio of 0.79. Simmons First National Co. has a fifty-two week low of $16.03 and a fifty-two week high of $25.95. The business's 50 day moving average price is $18.99 and its two-hundred day moving average price is $21.28. The company has a market cap of $2.37 billion, a P/E ratio of 15.54 and a beta of 0.91.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.26 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.10). Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. The firm had revenue of $209.58 million for the quarter, compared to analyst estimates of $209.00 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, analysts forecast that Simmons First National Co. will post 1.66 EPS for the current fiscal year.

Simmons First National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.52%. Simmons First National's payout ratio is presently 73.28%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SFNC shares. Keefe, Bruyette & Woods lowered their target price on Simmons First National from $23.00 to $21.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Stephens reduced their target price on shares of Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $20.00 to $21.00 in a research note on Monday, April 21st.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.