Invesco Ltd. Purchases 262,529 Shares of Simmons First National Co. (NASDAQ:SFNC)

Invesco Ltd. lifted its holdings in shares of Simmons First National Co. (NASDAQ:SFNC - Free Report) by 71.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,203 shares of the bank's stock after purchasing an additional 262,529 shares during the period. Invesco Ltd. owned about 0.50% of Simmons First National worth $14,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SFNC. Jones Financial Companies Lllp bought a new stake in Simmons First National in the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC raised its position in shares of Simmons First National by 168.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,144 shares of the bank's stock valued at $48,000 after purchasing an additional 1,345 shares during the period. KBC Group NV lifted its stake in shares of Simmons First National by 31.0% during the 4th quarter. KBC Group NV now owns 6,091 shares of the bank's stock valued at $135,000 after buying an additional 1,443 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Simmons First National during the 4th quarter valued at approximately $212,000. Finally, Cibc World Markets Corp bought a new position in Simmons First National in the 4th quarter worth approximately $258,000. 27.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SFNC. Keefe, Bruyette & Woods dropped their target price on Simmons First National from $23.00 to $21.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Stephens cut their target price on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Piper Sandler upgraded Simmons First National from an "underweight" rating to a "neutral" rating and upped their price target for the company from $20.00 to $21.00 in a research report on Monday, April 21st.

Simmons First National Price Performance

NASDAQ:SFNC traded down $0.19 during trading hours on Friday, hitting $18.48. 524,028 shares of the company's stock traded hands, compared to its average volume of 605,807. Simmons First National Co. has a 52 week low of $16.03 and a 52 week high of $25.95. The business's fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $22.02. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.33 billion, a P/E ratio of 15.27 and a beta of 0.82.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.10). The business had revenue of $209.58 million for the quarter, compared to the consensus estimate of $209.00 million. Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. During the same quarter last year, the business posted $0.32 EPS. On average, research analysts anticipate that Simmons First National Co. will post 1.66 earnings per share for the current fiscal year.

Simmons First National Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.2125 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.85 annualized dividend and a dividend yield of 4.60%. This is a boost from Simmons First National's previous quarterly dividend of $0.21. Simmons First National's dividend payout ratio (DPR) is 73.28%.

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.