Royal Bank of Canada Decreases Stake in Simmons First National Corporation $SFNC

Key Points

• Royal Bank of Canada reduced its Simmons First National stake by 56.7% in the first quarter, selling 52,953 shares and retaining 40,458 shares valued at approximately $787,000. Institutional investors collectively own 27.58% of the company.
• Simmons First National’s shares opened at $23.01, near their 50-day average, with a market capitalization of $3.33 billion. The bank reported quarterly EPS of $0.50, below the $0.53 analyst consensus, although revenue increased 16.1% year over year.
• The company declared a quarterly dividend of $0.215 per share, representing an annualized dividend of $0.86 and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $24.50.

Royal Bank of Canada cut its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 56.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,458 shares of the bank's stock after selling 52,953 shares during the quarter. Royal Bank of Canada's holdings in Simmons First National were worth $787,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Simmons First National by 271.3% in the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank's stock valued at $3,261,000 after acquiring an additional 116,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Simmons First National by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank's stock valued at $1,516,000 after purchasing an additional 3,221 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Simmons First National by 3,624.6% in the first quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank's stock valued at $268,000 after purchasing an additional 12,686 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Simmons First National by 1,288.2% in the first quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank's stock valued at $411,000 after purchasing an additional 16,746 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Simmons First National by 9.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,036 shares of the bank's stock valued at $5,277,000 after purchasing an additional 21,889 shares during the last quarter. Hedge funds and other institutional investors own 27.58% of the company's stock.

Simmons First National Stock Up 0.1%

SFNC stock opened at $23.01 on Friday. The firm has a market cap of $3.33 billion, a PE ratio of -9.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.93. The firm's 50 day moving average price is $23.04 and its 200-day moving average price is $21.49. Simmons First National Corporation has a one year low of $17.00 and a one year high of $24.32.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.03). Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.32%. Simmons First National's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that Simmons First National Corporation will post 2.05 EPS for the current year.

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Simmons First National's dividend payout ratio is -33.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SFNC shares. Morgan Stanley reissued a "positive" rating on shares of Simmons First National in a research note on Monday, June 29th. Keefe, Bruyette & Woods raised their target price on Simmons First National from $24.00 to $25.00 and gave the stock a "market perform" rating in a research note on Monday, July 20th. DA Davidson reiterated a "neutral" rating and set a $23.00 price target on shares of Simmons First National in a report on Friday, July 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Simmons First National in a report on Tuesday, July 21st. Finally, Raymond James Financial reissued an "outperform" rating and set a $25.00 price target on shares of Simmons First National in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.50.

About Simmons First National

Simmons First National Corporation NASDAQ: SFNC is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company's core business activities span deposit-taking, lending and payment services.

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