Patten Group Inc. Sells 25,162 Shares of Simmons First National Co. (SFNC)

Patten Group Inc. lessened its holdings in Simmons First National Co. (NASDAQ:SFNC) by 99.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70 shares of the bank’s stock after selling 25,162 shares during the period. Patten Group Inc.’s holdings in Simmons First National were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Simmons First National by 0.3% in 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 period. Amalgamated Bank raised its stake in shares of Simmons First National by 3.8% in the 2nd quarter. Amalgamated Bank now owns 4,122 shares of the bank’s stock valued at $218,000 after acquiring an additional 151 shares during the period. California Public Employees Retirement System raised its stake in shares of Simmons First National by 1.3% in 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 period. Texas Permanent School Fund raised its stake in shares of Simmons First National by 1.0% in 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 period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Simmons First National by 3.5% in 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 period. 51.33% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on SFNC shares. Zacks Investment Research lowered shares of Simmons First National from a “buy” rating to a “sell” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $60.00 price target on shares of Simmons First National in a report on Thursday, October 5th. Sandler O’Neill reaffirmed a “hold” rating and set a $62.00 price target on shares of Simmons First National in a report on Tuesday, October 24th. Finally, BidaskClub raised shares of Simmons First National from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.40.

In other news, EVP Barry K. Ledbetter sold 1,900 shares of Simmons First National stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $57.37, for a total value of $109,003.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher R. Kirkland sold 160,000 shares of Simmons First National stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $57.11, for a total transaction of $9,137,600.00. Following the completion of the transaction, the director now directly owns 76,949 shares of the company’s stock, valued at $4,394,557.39. The disclosure for this sale can be found here. Insiders sold a total of 349,122 shares of company stock valued at $19,827,028 over the last ninety days. Company insiders own 4.63% of the company’s stock.

Simmons First National Co. (NASDAQ:SFNC) traded up $0.15 during midday trading on Tuesday, hitting $57.25. 241,895 shares of the stock traded hands, compared to its average volume of 232,500. Simmons First National Co. has a 1-year low of $49.75 and a 1-year high of $63.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $2,650.00, a price-to-earnings ratio of 18.12 and a beta of 1.14.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, December 14th. Simmons First National’s dividend payout ratio (DPR) is presently 31.65%.

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Simmons First National Profile

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, Tennessee, Colorado, Oklahoma and Texas.

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

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