Rhino Investment Partners Inc Reduces Position in Simmons First National Corporation $SFNC

Rhino Investment Partners Inc trimmed its position in Simmons First National Corporation (NASDAQ:SFNC) by 46.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 726,883 shares of the bank’s stock after selling 642,196 shares during the quarter. Simmons First National comprises approximately 3.9% of Rhino Investment Partners Inc’s holdings, making the stock its 7th largest position. Rhino Investment Partners Inc’s holdings in Simmons First National were worth $14,138,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. grew its stake in Simmons First National by 156.0% in the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock valued at $29,000 after buying an additional 925 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock worth $32,000 after acquiring an additional 1,104 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Simmons First National by 35.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock worth $36,000 after acquiring an additional 495 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Simmons First National by 32.0% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after acquiring an additional 644 shares during the period. Finally, Systematic Financial Management LP bought a new stake in Simmons First National during the fourth quarter valued at about $66,000. 27.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SFNC. National Bank Financial set a $25.00 price target on Simmons First National in a research report on Monday, July 20th. DA Davidson restated a “neutral” rating and set a $23.00 target price on shares of Simmons First National in a research note on Friday, July 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Simmons First National in a report on Friday, July 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Simmons First National in a research report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods upped their price target on Simmons First National from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.50.

Simmons First National Stock Performance

NASDAQ:SFNC opened at $23.48 on Wednesday. The firm’s 50-day moving average is $22.29 and its 200-day moving average is $21.01. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -9.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.93. Simmons First National Corporation has a 52-week low of $17.00 and a 52-week high of $23.91.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.32%. The company had revenue of $248.57 million during the quarter, compared to the consensus estimate of $250.98 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Simmons First National Corporation will post 2.05 earnings per share for the current year.

Simmons First National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a $0.215 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.86 annualized dividend and a yield of 3.7%. Simmons First National’s dividend payout ratio is -33.99%.

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.