Municipal Employees Retirement System of Michigan Raises Holdings in Simmons First National Co. (SFNC)

Municipal Employees Retirement System of Michigan raised its position in Simmons First National Co. (NASDAQ:SFNC) by 22.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,790 shares of the bank’s stock after buying an additional 2,670 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Simmons First National were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SFNC. Aperio Group LLC lifted its stake in Simmons First National by 45.9% in the third quarter. Aperio Group LLC now owns 6,460 shares of the bank’s stock valued at $374,000 after buying an additional 2,031 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Simmons First National in the third quarter valued at approximately $368,000. Victory Capital Management Inc. lifted its stake in Simmons First National by 28.7% in the third quarter. Victory Capital Management Inc. now owns 4,094 shares of the bank’s stock valued at $237,000 after buying an additional 912 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Simmons First National by 4.4% in the third quarter. Principal Financial Group Inc. now owns 260,001 shares of the bank’s stock valued at $15,054,000 after buying an additional 10,864 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Simmons First National by 97.0% in the third quarter. BNP Paribas Arbitrage SA now owns 18,484 shares of the bank’s stock valued at $1,070,000 after buying an additional 9,100 shares during the last quarter. Institutional investors own 14.15% of the company’s stock.

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In related news, EVP Steven C. Wade sold 8,610 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $29.34, for a total transaction of $252,617.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Vernon Wilson Jr. Bryant sold 5,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $59.93, for a total value of $299,650.00. Following the transaction, the insider now directly owns 165,853 shares in the company, valued at approximately $9,939,570.29. The disclosure for this sale can be found here. In the last three months, insiders sold 78,610 shares of company stock worth $4,085,217. Corporate insiders own 4.63% of the company’s stock.

A number of equities research analysts have weighed in on the company. BidaskClub cut Simmons First National from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Zacks Investment Research lowered Simmons First National from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Sandler O’Neill set a $31.50 target price on Simmons First National and gave the company a “hold” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.90.

SFNC stock opened at $28.00 on Friday. The stock has a market capitalization of $2,698.36, a P/E ratio of 20.44 and a beta of 1.15. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Simmons First National Co. has a twelve month low of $24.88 and a twelve month high of $30.90.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Monday, January 22nd. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $163.55 million for the quarter, compared to analyst estimates of $155.80 million. Simmons First National had a return on equity of 8.28% and a net margin of 17.41%. sell-side analysts forecast that Simmons First National Co. will post 2.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Wednesday, March 14th. Simmons First National’s payout ratio is currently 43.80%.

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Simmons First National Company Profile

Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.

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Institutional Ownership by Quarter for Simmons First National (NASDAQ:SFNC)

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