Profund Advisors LLC Lowers Stock Position in Simmons First National Co. (NASDAQ:SFNC)

Posted by Defense World Staff on Apr 27th, 2023

Profund Advisors LLC lowered its position in shares of Simmons First National Co. (NASDAQ:SFNC – Get Rating) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,883 shares of the bank’s stock after selling 705 shares during the quarter. Profund Advisors LLC’s holdings in Simmons First National were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new position in Simmons First National during the third quarter valued at $36,000. Hsbc Holdings PLC raised its position in shares of Simmons First National by 14.6% in the 3rd quarter. Hsbc Holdings PLC now owns 309,410 shares of the bank’s stock worth $6,859,000 after purchasing an additional 39,309 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Simmons First National by 25.7% in the 3rd quarter. Prudential Financial Inc. now owns 309,380 shares of the bank’s stock worth $6,742,000 after purchasing an additional 63,160 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Simmons First National by 14.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 207,733 shares of the bank’s stock worth $4,526,000 after purchasing an additional 26,182 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Simmons First National in the 3rd quarter worth about $635,000. Hedge funds and other institutional investors own 13.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SFNC. StockNews.com lowered Simmons First National from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. TheStreet lowered Simmons First National from a “b-” rating to a “c+” rating in a research report on Tuesday, April 18th. Finally, Robert W. Baird reduced their price objective on Simmons First National from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, January 25th.

Insider Buying and Selling at Simmons First National

In other news, Director Dean O. Bass sold 10,000 shares of Simmons First National stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $22.96, for a total transaction of $229,600.00. Following the transaction, the director now directly owns 139,975 shares of the company’s stock, valued at approximately $3,213,826. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dean O. Bass sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $22.96, for a total value of $229,600.00. Following the transaction, the director now directly owns 139,975 shares of the company’s stock, valued at approximately $3,213,826. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dean O. Bass sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $22.93, for a total value of $171,975.00. Following the completion of the transaction, the director now directly owns 159,975 shares in the company, valued at $3,668,226.75. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Simmons First National Price Performance

NASDAQ SFNC opened at $15.69 on Thursday. The stock has a 50-day moving average of $18.86 and a 200 day moving average of $21.29. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 7.58 and a beta of 0.81. Simmons First National Co. has a one year low of $15.00 and a one year high of $25.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.73 and a current ratio of 0.74.

Simmons First National (NASDAQ:SFNC – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). The firm had revenue of $324.97 million for the quarter, compared to the consensus estimate of $227.80 million. Simmons First National had a net margin of 20.55% and a return on equity of 8.52%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, sell-side analysts forecast that Simmons First National Co. will post 1.93 EPS for the current year.

Simmons First National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.10%. Simmons First National’s dividend payout ratio is currently 38.65%.

Simmons First National Profile

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Simmons First National Corp. is a holding company, which engages in the provision of banking and other financial products and services to individual and corporate customers. The company was founded on March 23, 1903 and is headquartered in Pine Bluff, AR.