Covestor Ltd Sells 2,017 Shares of Simmons First National Co. (NASDAQ:SFNC)

Covestor Ltd reduced its position in Simmons First National Co. (NASDAQ:SFNC) by 39.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,154 shares of the bank’s stock after selling 2,017 shares during the period. Covestor Ltd’s holdings in Simmons First National were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Simmons First National during the fourth quarter valued at about $29,000. TFO Wealth Partners LLC increased its position in shares of Simmons First National by 250,150.0% during the fourth quarter. TFO Wealth Partners LLC now owns 10,010 shares of the bank’s stock valued at $199,000 after buying an additional 10,006 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Simmons First National during the first quarter valued at about $227,000. Summit Financial Wealth Advisors LLC increased its position in shares of Simmons First National by 15.9% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 11,590 shares of the bank’s stock valued at $230,000 after buying an additional 1,590 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of Simmons First National during the first quarter valued at about $252,000. 27.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP George A. Makris III sold 15,625 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $269,218.75. Following the completion of the sale, the executive vice president now owns 39,707 shares of the company’s stock, valued at $684,151.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SFNC shares. Stephens decreased their price objective on shares of Simmons First National from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Simmons First National from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com cut shares of Simmons First National from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Simmons First National Stock Down 1.9 %

Shares of SFNC opened at $21.10 on Thursday. The firm has a market cap of $2.65 billion, a P/E ratio of 15.86 and a beta of 0.89. Simmons First National Co. has a 1 year low of $13.36 and a 1 year high of $21.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $17.82 and a two-hundred day simple moving average of $18.36.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $195.10 million during the quarter, compared to analyst estimates of $202.35 million. Simmons First National had a return on equity of 5.94% and a net margin of 11.97%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, analysts forecast that Simmons First National Co. will post 1.29 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, September 13th. Simmons First National’s dividend payout ratio (DPR) is presently 63.16%.

About Simmons First National

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.