Bank of New York Mellon Corp Sells 118,049 Shares of Simmons First National Co. (NASDAQ:SFNC)

Bank of New York Mellon Corp reduced its position in Simmons First National Co. (NASDAQ:SFNC - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,233,591 shares of the bank's stock after selling 118,049 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of Simmons First National worth $27,361,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Simmons First National by 33.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 676,171 shares of the bank's stock valued at $14,565,000 after purchasing an additional 170,821 shares during the period. Barclays PLC boosted its stake in Simmons First National by 131.4% during the third quarter. Barclays PLC now owns 247,821 shares of the bank's stock valued at $5,337,000 after buying an additional 140,738 shares during the period. Dean Investment Associates LLC grew its position in Simmons First National by 231.6% during the third quarter. Dean Investment Associates LLC now owns 137,352 shares of the bank's stock worth $2,959,000 after buying an additional 95,928 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Simmons First National by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,866,142 shares of the bank's stock worth $40,197,000 after acquiring an additional 65,992 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Simmons First National in the 3rd quarter valued at about $1,339,000. 27.58% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, Stephens decreased their price objective on shares of Simmons First National from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd.

Simmons First National Price Performance

SFNC traded up $0.37 during trading on Wednesday, reaching $20.05. The stock had a trading volume of 796,411 shares, compared to its average volume of 530,403. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.79 and a current ratio of 0.79. The business has a 50-day moving average of $22.07 and a 200-day moving average of $22.51. Simmons First National Co. has a one year low of $16.03 and a one year high of $25.95. The stock has a market cap of $2.52 billion, a PE ratio of 16.60 and a beta of 0.84.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.03. The company had revenue of $208.50 million for the quarter, compared to analysts' expectations of $208.67 million. Simmons First National had a return on equity of 5.10% and a net margin of 10.46%. Simmons First National's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. As a group, equities research analysts anticipate that Simmons First National Co. will post 1.66 EPS for the current fiscal year.

Simmons First National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.2125 dividend. This is a boost from Simmons First National's previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 14th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.24%. 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.