Creative Planning boosted its stake in Simmons First National Co. (NASDAQ:SFNC) by 51.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,505 shares of the bank’s stock after buying an additional 10,011 shares during the quarter. Creative Planning’s holdings in Simmons First National were worth $505,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SFNC. Versant Capital Management Inc raised its position in Simmons First National by 62.0% in the 1st quarter. Versant Capital Management Inc now owns 2,901 shares of the bank’s stock valued at $53,000 after buying an additional 1,110 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Simmons First National during the 1st quarter valued at $59,000. Meeder Asset Management Inc. increased its position in shares of Simmons First National by 162.8% during the 1st quarter. Meeder Asset Management Inc. now owns 4,468 shares of the bank’s stock valued at $82,000 after purchasing an additional 2,768 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Simmons First National by 21.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,902 shares of the bank’s stock valued at $90,000 after purchasing an additional 851 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Simmons First National during the 4th quarter valued at $153,000. 27.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on SFNC shares. Raymond James raised Simmons First National from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Wednesday, June 17th. Zacks Investment Research raised Simmons First National from a “sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, BidaskClub lowered Simmons First National from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Simmons First National presently has an average rating of “Hold” and an average target price of $26.40.
Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.25. The company had revenue of $213.91 million during the quarter, compared to the consensus estimate of $201.13 million. Simmons First National had a return on equity of 10.25% and a net margin of 25.20%. During the same quarter in the prior year, the company earned $0.68 EPS. Equities analysts predict that Simmons First National Co. will post 1.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 annualized dividend and a yield of 4.10%. Simmons First National’s dividend payout ratio is currently 24.91%.
In related news, CEO George Makris, Jr. bought 9,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $16.37 per share, for a total transaction of $147,330.00. Following the purchase, the chief executive officer now directly owns 431,346 shares in the company, valued at $7,061,134.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Makris, Jr. bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $14.77 per share, with a total value of $147,700.00. Following the purchase, the chief executive officer now owns 441,346 shares in the company, valued at $6,518,680.42. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 29,000 shares of company stock valued at $462,230. 1.60% of the stock is owned by corporate insiders.
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: Straddles
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