Highland Capital Management LLC Reduces Stake in Simmons First National Co. (NASDAQ:SFNC)

Highland Capital Management LLC lowered its holdings in Simmons First National Co. (NASDAQ:SFNCGet Rating) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 64,013 shares of the bank’s stock after selling 850 shares during the quarter. Highland Capital Management LLC’s holdings in Simmons First National were worth $1,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hardy Reed LLC purchased a new position in Simmons First National during the first quarter valued at $84,000. Strs Ohio increased its holdings in shares of Simmons First National by 10.0% in the 1st quarter. Strs Ohio now owns 4,400 shares of the bank’s stock worth $115,000 after purchasing an additional 400 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Simmons First National by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 5,928 shares of the bank’s stock worth $155,000 after purchasing an additional 2,243 shares in the last quarter. Mendel Capital Management LLC bought a new stake in shares of Simmons First National in the 4th quarter worth $216,000. Finally, Inspire Investing LLC bought a new stake in shares of Simmons First National in the 1st quarter worth $237,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Simmons First National Price Performance

NASDAQ SFNC opened at $23.15 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of 11.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day moving average is $23.61 and its 200 day moving average is $24.26. Simmons First National Co. has a fifty-two week low of $19.87 and a fifty-two week high of $32.76.

Simmons First National (NASDAQ:SFNCGet Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.06. The company had revenue of $225.28 million for the quarter, compared to the consensus estimate of $228.57 million. Simmons First National had a return on equity of 8.73% and a net margin of 25.19%. During the same period in the previous year, the business earned $0.69 earnings per share. Sell-side analysts predict that Simmons First National Co. will post 2.33 earnings per share for the current year.

Simmons First National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. Simmons First National’s payout ratio is 38.97%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SFNC shares. StockNews.com raised Simmons First National from a “sell” rating to a “hold” rating in a report on Wednesday. Stephens lifted their price objective on Simmons First National to $25.00 in a report on Monday, July 25th. Finally, Piper Sandler cut their price objective on Simmons First National to $24.50 in a report on Monday, July 4th.

Insider Activity

In other news, Director Dean O. Bass sold 7,334 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $23.88, for a total value of $175,135.92. Following the transaction, the director now directly owns 230,680 shares in the company, valued at $5,508,638.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dean O. Bass sold 8,810 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $22.86, for a total value of $201,396.60. Following the sale, the director now directly owns 244,535 shares in the company, valued at $5,590,070.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dean O. Bass sold 7,334 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $23.88, for a total value of $175,135.92. Following the completion of the sale, the director now owns 230,680 shares in the company, valued at $5,508,638.40. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.

Simmons First National Profile

(Get Rating)

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. It 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; insurance products; and securities and investment services.

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

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