IndexIQ Advisors LLC Has $910,000 Stake in Simmons First National Corporation (SFNC)

IndexIQ Advisors LLC lifted its stake in Simmons First National Corporation (NASDAQ:SFNC) by 82.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,715 shares of the bank’s stock after buying an additional 7,120 shares during the period. IndexIQ Advisors LLC’s holdings in Simmons First National Corporation were worth $910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eaton Vance Management increased its holdings in shares of Simmons First National Corporation by 8.5% in the second quarter. Eaton Vance Management now owns 62,197 shares of the bank’s stock worth $3,290,000 after buying an additional 4,885 shares during the period. Vanguard Group Inc. grew its stake in shares of Simmons First National Corporation by 5.8% in the first quarter. Vanguard Group Inc. now owns 2,511,310 shares of the bank’s stock worth $138,499,000 after purchasing an additional 138,399 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Simmons First National Corporation in the second quarter worth about $341,000. BlackRock Inc. grew its stake in shares of Simmons First National Corporation by 1.2% in the second quarter. BlackRock Inc. now owns 3,702,665 shares of the bank’s stock worth $195,871,000 after purchasing an additional 42,981 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Simmons First National Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 255,312 shares of the bank’s stock worth $14,080,000 after purchasing an additional 20,906 shares during the last quarter. Hedge funds and other institutional investors own 52.00% of the company’s stock.

Several research firms recently issued reports on SFNC. Zacks Investment Research cut Simmons First National Corporation from a “buy” rating to a “sell” rating in a research note on Friday, October 27th. Sandler O’Neill reissued a “hold” rating and issued a $62.00 target price on shares of Simmons First National Corporation in a research note on Tuesday, October 24th. Piper Jaffray Companies reissued a “neutral” rating and issued a $60.00 target price on shares of Simmons First National Corporation in a research note on Thursday, October 5th. BidaskClub cut Simmons First National Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Stephens set a $64.00 price objective on Simmons First National Corporation and gave the company a “buy” rating in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.40.

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Shares of Simmons First National Corporation (SFNC) opened at $54.92 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2,524.90, a P/E ratio of 16.54 and a beta of 1.16. Simmons First National Corporation has a 12-month low of $49.75 and a 12-month high of $67.00.

In other news, Director Christopher R. Kirkland sold 50,000 shares of Simmons First National Corporation stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $55.12, for a total transaction of $2,756,000.00. Following the completion of the transaction, the director now directly owns 208,276 shares in the company, valued at $11,480,173.12. 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 10,000 shares of Simmons First National Corporation stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the transaction, the director now owns 208,276 shares of the company’s stock, valued at $11,455,180. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,955 shares of company stock worth $9,648,058. Insiders own 4.63% of the company’s stock.

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, Tennessee, Colorado, Oklahoma and Texas.

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

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