Simmons First National Corporation $SFNC Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Simmons First National Corporation (NASDAQ:SFNC) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 416,966 shares of the bank’s stock after purchasing an additional 34,362 shares during the period. Rhumbline Advisers owned about 0.29% of Simmons First National worth $7,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SFNC. Qube Research & Technologies Ltd lifted its position in shares of Simmons First National by 41.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 922,284 shares of the bank’s stock valued at $17,487,000 after buying an additional 271,257 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Simmons First National by 7.3% during the second quarter. Westwood Holdings Group Inc. now owns 3,737,214 shares of the bank’s stock worth $70,858,000 after acquiring an additional 254,067 shares during the period. Invesco Ltd. lifted its holdings in Simmons First National by 14.0% during the second quarter. Invesco Ltd. now owns 1,731,794 shares of the bank’s stock valued at $32,835,000 after purchasing an additional 212,988 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Simmons First National in the first quarter valued at about $3,006,000. Finally, AQR Capital Management LLC grew its position in shares of Simmons First National by 89.0% in the second quarter. AQR Capital Management LLC now owns 300,286 shares of the bank’s stock valued at $5,693,000 after purchasing an additional 141,430 shares during the period. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Simmons First National Price Performance

SFNC stock opened at $21.47 on Friday. Simmons First National Corporation has a 1 year low of $17.00 and a 1 year high of $22.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $3.11 billion, a PE ratio of -7.75 and a beta of 0.93. The business has a 50 day simple moving average of $20.03 and a 200-day simple moving average of $19.43.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Tuesday, January 20th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $249.00 million for the quarter, compared to the consensus estimate of $238.68 million. Simmons First National had a positive return on equity of 6.73% and a negative net margin of 27.83%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Simmons First National Corporation will post 1.66 earnings per share for the current fiscal year.

Simmons First National announced that its board has initiated a stock buyback program on Tuesday, February 17th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the bank to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. DA Davidson increased their target price on Simmons First National from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Wall Street Zen raised Simmons First National from a “sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Simmons First National in a research report on Monday, December 29th. Finally, Morgan Stanley raised their price objective on Simmons First National from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.43.

Simmons First National Company Profile

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.