Connors Investor Services Inc. grew its position in shares of Simmons First National Corporation (NASDAQ:SFNC – Free Report) by 14.7% in the 4th quarter, Holdings Channel reports. The firm owned 189,444 shares of the bank’s stock after acquiring an additional 24,311 shares during the quarter. Connors Investor Services Inc.’s holdings in Simmons First National were worth $3,571,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SFNC. Royal Bank of Canada raised its holdings in Simmons First National by 27.2% during the 1st quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock worth $1,820,000 after purchasing an additional 18,933 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Simmons First National by 271.3% in the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock valued at $3,261,000 after acquiring an additional 116,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Simmons First National by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock valued at $1,516,000 after acquiring an additional 3,221 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Simmons First National by 3,624.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock valued at $268,000 after acquiring an additional 12,686 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Simmons First National by 1,288.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock valued at $411,000 after acquiring an additional 16,746 shares in the last quarter. Institutional investors own 27.58% of the company’s stock.
Simmons First National Stock Performance
NASDAQ SFNC opened at $21.34 on Friday. The company has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $19.77. Simmons First National Corporation has a 12-month low of $17.00 and a 12-month high of $22.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.10 billion, a P/E ratio of -8.34 and a beta of 0.92.
Simmons First National announced that its board has initiated a stock repurchase plan on Tuesday, February 17th that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the bank to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
SFNC has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of Simmons First National from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. DA Davidson reiterated a “neutral” rating and issued a $21.00 price objective on shares of Simmons First National in a research note on Friday, April 17th. Stephens lifted their price objective on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.
Read Our Latest Stock Analysis on Simmons First National
Simmons First National 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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