IndexIQ Advisors LLC reduced its position in Simmons First National Co. (NASDAQ:SFNC) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,134 shares of the bank’s stock after selling 10,516 shares during the period. IndexIQ Advisors LLC’s holdings in Simmons First National were worth $888,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in Simmons First National by 3.1% in the 2nd quarter. BlackRock Inc. now owns 13,971,730 shares of the bank’s stock valued at $324,983,000 after buying an additional 423,940 shares during the last quarter. Parkside Financial Bank & Trust purchased a new stake in Simmons First National in the 3rd quarter valued at $110,000. Benjamin F. Edwards & Company Inc. raised its position in Simmons First National by 150.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 5,000 shares of the bank’s stock valued at $125,000 after buying an additional 3,000 shares during the last quarter. California Public Employees Retirement System raised its position in Simmons First National by 69.0% in the 3rd quarter. California Public Employees Retirement System now owns 226,488 shares of the bank’s stock valued at $5,640,000 after buying an additional 92,464 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in Simmons First National by 2.5% in the 3rd quarter. Mason Street Advisors LLC now owns 32,804 shares of the bank’s stock valued at $817,000 after buying an additional 800 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Stephens lowered Simmons First National from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $29.00 to $27.00 in a research report on Wednesday, October 23rd. Piper Sandler lowered Simmons First National from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $29.50 to $27.00 in a research report on Thursday, January 23rd. DA Davidson raised their target price on Simmons First National to $33.00 and gave the company a “buy” rating in a research report on Thursday, December 26th. Finally, BidaskClub lowered Simmons First National from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Simmons First National presently has an average rating of “Hold” and an average price target of $28.33.
Shares of Simmons First National stock opened at $24.81 on Friday. Simmons First National Co. has a 1 year low of $22.08 and a 1 year high of $27.87. The firm has a market cap of $2.40 billion, a PE ratio of 10.25 and a beta of 1.10. The stock has a fifty day moving average price of $25.63 and a 200-day moving average price of $25.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.94 and a quick ratio of 0.94.
Simmons First National (NASDAQ:SFNC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. Simmons First National had a return on equity of 10.48% and a net margin of 24.10%. The firm had revenue of $212.70 million during the quarter, compared to analyst estimates of $205.30 million. During the same period last year, the firm posted $0.61 EPS. As a group, equities analysts anticipate that Simmons First National Co. will post 2.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Monday, March 16th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Simmons First National’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 2.74%. Simmons First National’s dividend payout ratio (DPR) is currently 23.44%.
Simmons First National Profile
Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.
Further Reading: Portfolio Manager
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