Simmons First National Corporation $SFNC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in Simmons First National Corporation by 0.7%, currently owning 4,465,162 shares valued at approximately $91.67 million.
• Simmons First National reported $0.44 earnings per share for the last quarter, exceeding estimates, with a revenue increase of 8.6% year-over-year.
• Multiple analysts have recently upgraded their ratings on Simmons First National, with the consensus target price now set at $22.75.

Northern Trust Corp decreased its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,465,162 shares of the bank's stock after selling 30,742 shares during the period. Northern Trust Corp owned approximately 3.55% of Simmons First National worth $91,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SFNC. Cresset Asset Management LLC grew its position in Simmons First National by 0.7% during the fourth quarter. Cresset Asset Management LLC now owns 76,711 shares of the bank's stock worth $1,718,000 after buying an additional 546 shares during the period. Mustard Seed Financial LLC grew its position in Simmons First National by 1.9% during the first quarter. Mustard Seed Financial LLC now owns 34,402 shares of the bank's stock worth $706,000 after buying an additional 656 shares during the period. Cerity Partners LLC grew its position in shares of Simmons First National by 5.5% in the first quarter. Cerity Partners LLC now owns 16,058 shares of the bank's stock valued at $330,000 after purchasing an additional 836 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Simmons First National by 1.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 62,588 shares of the bank's stock worth $1,285,000 after purchasing an additional 966 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Simmons First National by 4.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 27,396 shares of the bank's stock worth $613,000 after purchasing an additional 1,049 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Simmons First National Trading Up 0.2%

Shares of SFNC traded up $0.04 during mid-day trading on Thursday, reaching $20.89. The company had a trading volume of 761,650 shares, compared to its average volume of 855,166. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 16.45 and a beta of 0.95. The firm has a fifty day simple moving average of $19.64 and a 200-day simple moving average of $19.70. Simmons First National Corporation has a fifty-two week low of $17.20 and a fifty-two week high of $25.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. The company had revenue of $214.18 million for the quarter, compared to analyst estimates of $217.21 million. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. Simmons First National's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research raised Simmons First National from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. DA Davidson upped their target price on Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods upped their target price on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.75.

Insider Buying and Selling

In other Simmons First National news, CFO Charles Daniel Hobbs bought 5,400 shares of Simmons First National stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $18.50 per share, for a total transaction of $99,900.00. Following the acquisition, the chief financial officer owned 10,213 shares of the company's stock, valued at $188,940.50. The trade was a 112.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steenberg Christopher J. Van bought 13,500 shares of Simmons First National stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $18.50 per share, for a total transaction of $249,750.00. Following the acquisition, the chief operating officer directly owned 13,500 shares in the company, valued at approximately $249,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 100,755 shares of company stock worth $1,865,332 over the last 90 days. Company insiders own 1.44% of the company's stock.

Simmons First National 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.