Simmons First National Corporation $SFNC Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Simmons First National Corporation (NASDAQ:SFNC) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 416,966 shares of the bank’s stock after acquiring an additional 34,362 shares during the quarter. Rhumbline Advisers’ holdings in Simmons First National were worth $7,993,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Simmons First National by 197.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,104 shares during the last quarter. Jones Financial Companies Lllp raised its position in Simmons First National by 42.5% in the third quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after purchasing an additional 649 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after purchasing an additional 644 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Simmons First National by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,260 shares of the bank’s stock valued at $82,000 after purchasing an additional 834 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Simmons First National by 68.4% during the 3rd quarter. Covestor Ltd now owns 5,938 shares of the bank’s stock worth $114,000 after purchasing an additional 2,412 shares during the period. Hedge funds and other institutional investors own 27.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SFNC shares. DA Davidson boosted their price objective on shares of 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 shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Monday, January 26th. National Bank Financial set a $21.00 price objective on shares of Simmons First National in a report on Wednesday, January 21st. Piper Sandler upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Robert W. Baird raised Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Simmons First National has a consensus rating of “Moderate Buy” and an average target price of $22.43.

Simmons First National Stock Up 1.5%

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

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Tuesday, January 20th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 27.83% and a positive return on equity of 6.73%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. Analysts forecast that Simmons First National Corporation will post 1.66 earnings per share for the current fiscal year.

Simmons First National declared that its board has initiated a share buyback plan on Tuesday, February 17th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Simmons First National 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.