Bank of New York Mellon Corp Sells 18,124 Shares of Simmons First National Corporation (NASDAQ:SFNC)

Bank of New York Mellon Corp trimmed its holdings in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,215,467 shares of the bank's stock after selling 18,124 shares during the quarter. Bank of New York Mellon Corp owned 0.97% of Simmons First National worth $24,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in Simmons First National during the fourth quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Simmons First National in the fourth quarter worth $36,000. Quarry LP acquired a new stake in shares of Simmons First National in the fourth quarter worth $47,000. Sterling Capital Management LLC grew its stake in shares of Simmons First National by 813.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock worth $87,000 after acquiring an additional 3,483 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Simmons First National in the fourth quarter worth $114,000. 27.58% of the stock is owned by institutional investors and hedge funds.

Simmons First National Price Performance

NASDAQ:SFNC traded up $0.37 during trading hours on Friday, hitting $20.06. The company's stock had a trading volume of 1,107,140 shares, compared to its average volume of 636,658. The stock has a fifty day simple moving average of $19.26 and a 200-day simple moving average of $20.19. The company has a market capitalization of $2.53 billion, a P/E ratio of 15.80 and a beta of 0.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.80 and a quick ratio of 0.80. Simmons First National Corporation has a twelve month low of $17.20 and a twelve month high of $25.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Simmons First National had a return on equity of 5.24% and a net margin of 11.19%. The firm had revenue of $214.18 million during the quarter, compared to the consensus estimate of $217.21 million. During the same period last year, the company earned $0.33 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Simmons First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.85 dividend on an annualized basis and a yield of 4.24%. Simmons First National's payout ratio is currently 73.28%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stephens cut their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday. Piper Sandler upgraded 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 report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their target price on Simmons First National from $23.00 to $21.00 and set a "market perform" rating for the company in a research report on Monday, April 21st.

Simmons First National Company Profile

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.