King Luther Capital Management Corp Raises Stake in Simmons First National Co. (SFNC)

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King Luther Capital Management Corp lifted its position in shares of Simmons First National Co. (NASDAQ:SFNC) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,298,141 shares of the bank’s stock after purchasing an additional 16,190 shares during the period. King Luther Capital Management Corp’s holdings in Simmons First National were worth $38,230,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Simmons First National by 14.1% during the third quarter. BlackRock Inc. now owns 13,170,435 shares of the bank’s stock worth $387,870,000 after purchasing an additional 1,631,285 shares during the period. Dimensional Fund Advisors LP raised its position in Simmons First National by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,126,393 shares of the bank’s stock valued at $150,972,000 after buying an additional 59,353 shares during the last quarter. Northern Trust Corp raised its position in Simmons First National by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,381,038 shares of the bank’s stock valued at $41,294,000 after buying an additional 4,433 shares during the last quarter. Bank of New York Mellon Corp raised its position in Simmons First National by 13.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,197,113 shares of the bank’s stock valued at $35,254,000 after buying an additional 140,846 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in Simmons First National by 128.5% in the 2nd quarter. Rothschild Asset Management Inc. now owns 1,086,118 shares of the bank’s stock valued at $32,475,000 after buying an additional 610,825 shares during the last quarter. 27.87% of the stock is currently owned by institutional investors.

In other Simmons First National news, EVP Patrick A. Burrow purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average price of $27.65 per share, for a total transaction of $41,475.00. Following the completion of the purchase, the executive vice president now directly owns 31,829 shares of the company’s stock, valued at $880,071.85. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.76% of the company’s stock.

A number of equities research analysts recently commented on SFNC shares. Robert W. Baird initiated coverage on Simmons First National in a research report on Tuesday, October 16th. They issued an “outperform” rating and a $34.00 price target for the company. Zacks Investment Research downgraded Simmons First National from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BidaskClub upgraded Simmons First National from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Stephens set a $34.00 price target on Simmons First National and gave the stock a “buy” rating in a research note on Monday, October 22nd. Finally, ValuEngine downgraded Simmons First National from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.80.

SFNC stock opened at $27.29 on Thursday. Simmons First National Co. has a fifty-two week low of $24.58 and a fifty-two week high of $33.45. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.52 billion, a PE ratio of 15.96 and a beta of 1.02.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The company had revenue of $176.69 million for the quarter, compared to analysts’ expectations of $175.20 million. Simmons First National had a return on equity of 9.66% and a net margin of 22.55%. On average, equities analysts forecast that Simmons First National Co. will post 2.38 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, December 13th. Simmons First National’s dividend payout ratio (DPR) is 35.09%.

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Simmons First National 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.

See Also: What is a Derivative?

Want to see what other hedge funds are holding SFNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simmons First National Co. (NASDAQ:SFNC).

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

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