Mendon Capital Advisors Corp Grows Stake in Simmons First National Corporation $SFNC

Mendon Capital Advisors Corp boosted its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,000 shares of the bank’s stock after purchasing an additional 25,000 shares during the quarter. Simmons First National comprises 1.6% of Mendon Capital Advisors Corp’s portfolio, making the stock its 23rd biggest holding. Mendon Capital Advisors Corp owned 0.19% of Simmons First National worth $5,349,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its stake in Simmons First National by 156.0% in the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock worth $29,000 after purchasing an additional 925 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Simmons First National by 197.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after buying an additional 1,104 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Simmons First National by 35.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after buying an additional 495 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Simmons First National by 32.0% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after buying an additional 644 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of Simmons First National in the fourth quarter worth $66,000. 27.58% of the stock is owned by hedge funds and other institutional investors.

Simmons First National Price Performance

NASDAQ SFNC opened at $23.18 on Monday. The stock has a 50 day moving average price of $22.19 and a 200-day moving average price of $20.95. Simmons First National Corporation has a one year low of $17.00 and a one year high of $23.91. 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 company has a market capitalization of $3.36 billion, a P/E ratio of -9.16 and a beta of 0.90.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The business had revenue of $248.57 million during the quarter, compared to the consensus estimate of $250.98 million. Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. As a group, equities analysts predict that Simmons First National Corporation will post 2.05 EPS for the current fiscal year.

Simmons First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Simmons First National’s dividend payout ratio (DPR) is presently -33.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating and set a $23.00 target price on shares of Simmons First National in a research report on Friday, July 17th. National Bank Financial set a $25.00 price target on shares of Simmons First National in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their price target on shares of 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Simmons First National in a report on Tuesday, July 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Simmons First National in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.50.

Simmons First National Company Profile

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.