Mesirow Financial Investment Management Equity Management lessened its stake in Simmons First National Co. (NASDAQ:SFNC) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,262 shares of the bank’s stock after selling 115,285 shares during the quarter. Mesirow Financial Investment Management Equity Management owned 0.44% of Simmons First National worth $11,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of SFNC. LPL Financial LLC purchased a new position in shares of Simmons First National in the 1st quarter worth about $217,000. Capital Fund Management S.A. bought a new stake in Simmons First National in the 2nd quarter worth about $227,000. Jane Street Group LLC bought a new stake in Simmons First National in the 2nd quarter worth about $256,000. Dynamic Technology Lab Private Ltd bought a new stake in Simmons First National in the 2nd quarter worth about $305,000. Finally, Systematic Financial Management LP bought a new stake in Simmons First National in the 2nd quarter worth about $307,000. 29.99% of the stock is owned by hedge funds and other institutional investors.
SFNC has been the subject of several research analyst reports. Zacks Investment Research downgraded Simmons First National from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub upgraded Simmons First National from a “sell” rating to a “hold” rating in a report on Tuesday. Stephens set a $34.00 price objective on Simmons First National and gave the stock a “buy” rating in a report on Monday, October 22nd. Robert W. Baird initiated coverage on Simmons First National in a report on Tuesday, October 16th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Sandler O’Neill downgraded Simmons First National from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Simmons First National has an average rating of “Hold” and a consensus price target of $32.40.
Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $176.69 million during the quarter, compared to the consensus estimate of $175.20 million. Simmons First National had a return on equity of 9.66% and a net margin of 22.55%. On average, sell-side analysts expect that Simmons First National Co. will post 2.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.28%. Simmons First National’s dividend payout ratio is currently 35.09%.
In other Simmons First National news, Director Russell William Teubner sold 2,928 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $30.25, for a total transaction of $88,572.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.76% of the company’s stock.
Simmons First National Company 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: What is the Ex-Dividend Date in Investing?
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