Bank of New York Mellon Corp Lowers Position in Simmons First National Co. (NASDAQ:SFNC)

Bank of New York Mellon Corp lessened its stake in Simmons First National Co. (NASDAQ:SFNC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,233,591 shares of the bank’s stock after selling 118,049 shares during the period. Bank of New York Mellon Corp’s holdings in Simmons First National were worth $27,361,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. FMR LLC boosted its position in Simmons First National by 5.5% in the 3rd quarter. FMR LLC now owns 7,778 shares of the bank’s stock worth $168,000 after purchasing an additional 403 shares in the last quarter. Covestor Ltd boosted its position in Simmons First National by 13.7% in the 3rd quarter. Covestor Ltd now owns 4,129 shares of the bank’s stock worth $89,000 after purchasing an additional 497 shares in the last quarter. CIBC Asset Management Inc boosted its position in Simmons First National by 6.3% in the 4th quarter. CIBC Asset Management Inc now owns 12,581 shares of the bank’s stock worth $279,000 after purchasing an additional 751 shares in the last quarter. KBC Group NV boosted its position in Simmons First National by 29.0% in the 3rd quarter. KBC Group NV now owns 4,648 shares of the bank’s stock worth $100,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Jag Capital Management LLC lifted its position in shares of Simmons First National by 1.2% during the 3rd quarter. Jag Capital Management LLC now owns 119,236 shares of the bank’s stock valued at $2,568,000 after buying an additional 1,431 shares in the last quarter. Hedge funds and other institutional investors own 27.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens decreased their target price on Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

Simmons First National Stock Down 0.2 %

NASDAQ SFNC opened at $20.56 on Friday. The business has a fifty day moving average price of $22.17 and a 200 day moving average price of $22.51. Simmons First National Co. has a one year low of $16.03 and a one year high of $25.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $2.59 billion, a P/E ratio of 16.99 and a beta of 0.84.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. Simmons First National had a return on equity of 5.10% and a net margin of 10.46%. The firm had revenue of $208.50 million during the quarter, compared to the consensus estimate of $208.67 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that Simmons First National Co. will post 1.66 EPS for the current fiscal year.

Simmons First National Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.2125 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Simmons First National’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.13%. Simmons First National’s dividend payout ratio (DPR) is 70.25%.

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.