Louisiana State Employees Retirement System purchased a new position in Simmons First National Corporation (NASDAQ:SFNC – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor purchased 64,200 shares of the bank’s stock, valued at approximately $1,249,000.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Simmons First National by 27.2% in the 1st quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock valued at $1,820,000 after acquiring an additional 18,933 shares during the period. AQR Capital Management LLC raised its stake in Simmons First National by 271.3% in the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock worth $3,261,000 after acquiring an additional 116,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Simmons First National by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock worth $1,516,000 after acquiring an additional 3,221 shares during the period. NewEdge Advisors LLC lifted its position in Simmons First National by 3,624.6% during the 1st quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock worth $268,000 after acquiring an additional 12,686 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Simmons First National by 1,288.2% during the 1st quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after acquiring an additional 16,746 shares during the period. 27.58% of the stock is currently owned by institutional investors and hedge funds.
Simmons First National Stock Performance
NASDAQ SFNC opened at $22.84 on Friday. The company has a market capitalization of $3.31 billion, a PE ratio of -8.92 and a beta of 0.90. The company has a fifty day moving average of $21.67 and a 200 day moving average of $20.55. Simmons First National Corporation has a 1 year low of $17.00 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.
Simmons First National Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.215 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.8%. Simmons First National’s dividend payout ratio is presently -33.59%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SFNC. Weiss Ratings raised Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. DA Davidson reaffirmed a “neutral” rating and set a $21.00 target price on shares of Simmons First National in a report on Friday, April 17th. Zacks Research lowered Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. National Bank Financial set a $24.00 target price on Simmons First National in a research report on Monday. Finally, Morgan Stanley reiterated a “positive” rating on shares of Simmons First National in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.
Get Our Latest Report on Simmons First National
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.
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