Trading was heavy with 529K shares changing hands on Tuesday. Shares saw a steep increase in trading volume of 153.47% over the normal average daily volume.
Investors are more bearish on shares of Simmons First Natl of late if you take into consideration the rise in short interest. The company saw a rise in short interest of 7.37% between September 29, 2017 and October 13, 2017. Short interest increased from 2,732,773 to 2,934,138 over that timeframe. The days to cover increased to 20.0 and the short interest percentage is 0.06% as of October 13.
Here is a rundown on some insider market activity for Simmons First Natl (NASDAQ:SFNC). Christopher R. Kirkland, Director disclosed the sale of 33,009 shares of (SFNC). The shares were sold on September 27th for a price of $55.90. Kirkland now owns $13,344,169 of the stock according to the SEC filing. Christopher R. Kirkland, Director disclosed the sale of 50,000 shares. The shares sold for $55.12. The Director now owns $16,006,683 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (SFNC). Panagora Asset Management Inc bolstered its holdings by buying 4,279 shares an increase of 12.9% in the quarter. Panagora Asset Management Inc now holds 37,429 shares with a value of $2,167,000. The total value of its holdings increased 23.5%. As of quarter end Brandywine Global Investment Management, LLC had sold a total of 6,098 shares trimming its holdings by 9.1%. The value of the investment in Simmons First Natl went from $3,558,000 to $3,541,000 a change of $17,000 quarter over quarter.
State Street Corp divested its stake by shedding 68,098 shares a decrease of 6.8% from 06/30/2017 to 09/30/2017. State Street Corp owns 933,622 shares worth $54,052,000. The value of the position overall is up by 2.0%. As of the end of the quarter Gsa Capital Partners Llp had disposed of 42,934 shares trimming its stake by 88.5%. The value of the company’s investment in Simmons First Natl decreased from $2,567,000 to $324,000 decreasing 87.4% quarter to quarter.
On October 24 Sandler O’Neill kept the stock rating at “Hold” targeting a price of $62.00. October 5 investment analysts at Piper Jaffray Companies maintained a stock rating of “Neutral” projecting a price of $60.00.
On August 15 analysts at Stephens released guidance on SFNC and giving a rating of “Buy” and establishing a price target of $64.00.
The company is now up from yesterday’s close of 55.3. The P/E ratio is 17.86 and the market cap is 2.59B. In the last earnings report the EPS was $3.16 with 45.97M shares now outstanding.
Simmons First National Corporation, launched on October 22, 1968, 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. Simmons Bank offers consumer, real estate and commercial loans, checking, savings and time deposits. Simmons Bank and its subsidiaries have also developed products and services, which include credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and small business administration (SBA) lending..