Comerica Bank Purchases 307 Shares of Simmons First National Corporation (SFNC)

Comerica Bank increased its position in shares of Simmons First National Corporation (NASDAQ:SFNC) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,464 shares of the bank’s stock after acquiring an additional 307 shares during the quarter. Comerica Bank owned approximately 0.10% of Simmons First National Corporation worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of Simmons First National Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,371 shares of the bank’s stock valued at $443,000 after acquiring an additional 22 shares during the last quarter. Clinton Group Inc. boosted its position in shares of Simmons First National Corporation by 3.4% during the 1st quarter. Clinton Group Inc. now owns 3,813 shares of the bank’s stock valued at $210,000 after acquiring an additional 126 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Simmons First National Corporation by 1.3% during the 1st quarter. California Public Employees Retirement System now owns 15,600 shares of the bank’s stock valued at $860,000 after acquiring an additional 200 shares during the last quarter. Texas Permanent School Fund boosted its position in shares of Simmons First National Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 21,772 shares of the bank’s stock valued at $1,152,000 after acquiring an additional 211 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Simmons First National Corporation by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,030 shares of the bank’s stock valued at $372,000 after acquiring an additional 240 shares during the last quarter. 25.96% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Christopher R. Kirkland sold 547 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $55.00, for a total transaction of $30,085.00. Following the sale, the director now owns 228,399 shares of the company’s stock, valued at $12,561,945. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eugene Hunt sold 1,200 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $51.62, for a total value of $61,944.00. Following the sale, the director now directly owns 4,030 shares in the company, valued at approximately $208,028.60. The disclosure for this sale can be found here. 4.63% of the stock is owned by company insiders.

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Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Simmons First National Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, July 26th. Raymond James Financial, Inc. raised shares of Simmons First National Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. Stephens raised shares of Simmons First National Corporation from an “equal weight” rating to a “buy” rating and boosted their price target for the company from $60.00 to $64.00 in a research report on Friday, July 21st. Finally, BidaskClub raised shares of Simmons First National Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.25.

Simmons First National Corporation (NASDAQ SFNC) opened at 52.70 on Tuesday. Simmons First National Corporation has a 12 month low of $45.90 and a 12 month high of $67.00. The firm has a market cap of $1.70 billion, a PE ratio of 17.40 and a beta of 1.14. The stock’s 50 day moving average is $52.59 and its 200 day moving average is $53.51.

Simmons First National Corporation (NASDAQ:SFNC) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $112.56 million for the quarter, compared to analyst estimates of $110 million. Simmons First National Corporation had a return on equity of 8.71% and a net margin of 21.03%. On average, equities analysts forecast that Simmons First National Corporation will post $3.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 14th. Simmons First National Corporation’s payout ratio is currently 33.00%.

About Simmons First National Corporation

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 and Tennessee.

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

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