Victory Capital Management Inc. lifted its stake in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 606,190 shares of the bank's stock after purchasing an additional 90,500 shares during the period. Victory Capital Management Inc. owned about 0.48% of Simmons First National worth $12,445,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SFNC. Vanguard Group Inc. grew its holdings in Simmons First National by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 14,866,647 shares of the bank's stock worth $329,742,000 after acquiring an additional 630,376 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Simmons First National by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,616,599 shares of the bank's stock worth $168,938,000 after acquiring an additional 51,468 shares in the last quarter. Norges Bank bought a new position in Simmons First National during the 4th quarter worth about $27,095,000. FJ Capital Management LLC grew its holdings in Simmons First National by 35.1% during the 4th quarter. FJ Capital Management LLC now owns 1,104,008 shares of the bank's stock worth $24,487,000 after acquiring an additional 286,622 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Simmons First National by 49.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,011,431 shares of the bank's stock worth $22,434,000 after acquiring an additional 335,260 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors.
Simmons First National Stock Performance
SFNC stock traded up $0.02 during trading on Friday, reaching $19.68. The company had a trading volume of 1,888,568 shares, compared to its average volume of 1,825,285. The firm has a 50-day simple moving average of $19.23 and a 200-day simple moving average of $20.12. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 15.50 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current 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 released its earnings results on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.04. The company had revenue of $214.18 million during the quarter, compared to analysts' expectations 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 period last year, the business earned $0.33 EPS. As a group, sell-side analysts expect that Simmons First National Corporation will post 1.66 earnings per share for the current year.
Simmons First National Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Friday, June 13th. Simmons First National's dividend payout ratio is presently 66.93%.
Analysts Set New Price Targets
SFNC has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler upgraded shares of Simmons First National from an "underweight" rating to a "neutral" rating and raised their price target for the company from $20.00 to $21.00 in a report on Monday, April 21st. Stephens lowered their price target on shares of Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, DA Davidson raised their price target on shares of Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.75.
Read Our Latest Stock Report on Simmons First National
Insider Activity at Simmons First National
In other Simmons First National news, Director Steven A. Cosse purchased 13,500 shares of Simmons First National stock in a transaction on 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 transaction, the director owned 104,120 shares of the company's stock, valued at $1,926,220. This represents a 14.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Makris, Jr. bought 28,075 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average cost of $18.50 per share, with a total value of $519,387.50. Following the completion of the acquisition, the chief executive officer owned 29,550 shares in the company, valued at approximately $546,675. This represents a 1,903.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 89,555 shares of company stock worth $1,656,768 in the last ninety days. 1.44% of the stock is owned by company insiders.
Simmons First National Profile
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Free Report)
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.
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