CIBC Asset Management Inc Raises Stock Position in Simmons First National Co. (NASDAQ:SFNC)

CIBC Asset Management Inc grew its holdings in Simmons First National Co. (NASDAQ:SFNC) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,581 shares of the bank’s stock after acquiring an additional 751 shares during the period. CIBC Asset Management Inc’s holdings in Simmons First National were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Farmers & Merchants Investments Inc. lifted its holdings in Simmons First National by 105.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 3,888 shares of the bank’s stock worth $84,000 after purchasing an additional 2,000 shares in the last quarter. Covestor Ltd grew its holdings in Simmons First National by 13.7% during the 3rd quarter. Covestor Ltd now owns 4,129 shares of the bank’s stock valued at $89,000 after buying an additional 497 shares in the last quarter. KBC Group NV raised its position in shares of Simmons First National by 29.0% during the third quarter. KBC Group NV now owns 4,648 shares of the bank’s stock valued at $100,000 after buying an additional 1,045 shares during the last quarter. FMR LLC lifted its holdings in shares of Simmons First National by 5.5% in the third quarter. FMR LLC now owns 7,778 shares of the bank’s stock worth $168,000 after buying an additional 403 shares in the last quarter. Finally, LMR Partners LLP bought a new position in shares of Simmons First National during the third quarter worth $205,000. Institutional investors own 27.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens reduced their price target on shares of Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Simmons First National Stock Down 1.0 %

Shares of SFNC opened at $21.43 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.71 and a beta of 0.86. Simmons First National Co. has a 1 year low of $16.03 and a 1 year high of $25.95. The business’s 50 day simple moving average is $22.39 and its 200-day simple moving average is $22.43.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. The business had revenue of $208.50 million during the quarter, compared to analyst estimates of $208.67 million. During the same quarter last year, the business earned $0.40 earnings per share. Simmons First National’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Simmons First National Co. will post 1.66 earnings per share for the current fiscal year.

Simmons First National Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Simmons First National’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 3.97%. Simmons First National’s dividend payout ratio is 70.25%.

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.