Northern Trust Corp Has $91.67 Million Holdings in Simmons First National Corporation $SFNC

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 lessened its position in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,465,162 shares of the bank's stock after selling 30,742 shares during the period. Northern Trust Corp owned about 3.55% of Simmons First National worth $91,670,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. boosted its stake in shares of Simmons First National by 234.7% in the 1st quarter. Raymond James Financial Inc. now owns 153,661 shares of the bank's stock valued at $3,155,000 after purchasing an additional 107,752 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Simmons First National during the 1st quarter worth about $457,000. Russell Investments Group Ltd. lifted its position in Simmons First National by 3.6% during the 1st quarter. Russell Investments Group Ltd. now owns 89,439 shares of the bank's stock worth $1,836,000 after buying an additional 3,116 shares in the last quarter. Mustard Seed Financial LLC lifted its position in Simmons First National by 1.9% during the 1st quarter. Mustard Seed Financial LLC now owns 34,402 shares of the bank's stock worth $706,000 after buying an additional 656 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Simmons First National by 27.4% during the 1st quarter. Public Sector Pension Investment Board now owns 398,497 shares of the bank's stock worth $8,181,000 after buying an additional 85,630 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Wall Street Analyst Weigh In

SFNC has been the topic of several research reports. Zacks Research upgraded shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods upped their price target on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. DA Davidson upped their price target on shares of Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.75.

Simmons First National Trading Down 0.5%

Shares of SFNC stock traded down $0.11 during trading hours on Friday, reaching $20.78. The company had a trading volume of 796,375 shares, compared to its average volume of 969,577. The company has a 50 day moving average of $19.74 and a 200 day moving average of $19.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95. Simmons First National Corporation has a 1-year low of $17.20 and a 1-year high of $25.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last posted 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 the consensus estimate of $217.21 million. Simmons First National had a return on equity of 5.23% and a net margin of 11.19%.The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities research analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current year.

Insider Buying and Selling at Simmons First National

In other Simmons First National news, COO Steenberg Christopher J. Van purchased 13,500 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of $18.50 per share, with a total value of $249,750.00. Following the purchase, the chief operating officer directly owned 13,500 shares of the company's stock, valued at $249,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marty Casteel purchased 5,400 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $18.50 per share, with a total value of $99,900.00. Following the completion of the purchase, the director directly owned 213,901 shares in the company, valued at approximately $3,957,168.50. This represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 100,755 shares of company stock worth $1,865,332 in the last quarter. 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.