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Simmons First National Co. (NASDAQ:SFNC) Shares Acquired by Westwood Holdings Group Inc.

Financial News Live · Sep 5, 2022 10:31

Westwood Holdings Group Inc. increased its position in Simmons First National Co. (NASDAQ:SFNC – Get Rating) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 2,834,630 shares of the bank's stock after purchasing an additional 4,391 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Simmons First National were worth $74,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. UMB Bank N A MO acquired a new position in Simmons First National during the 4th quarter valued at about $75,000. Hardy Reed LLC acquired a new position in Simmons First National during the 1st quarter valued at about $84,000. Strs Ohio boosted its position in shares of Simmons First National by 10.0% during the 1st quarter. Strs Ohio now owns 4,400 shares of the bank's stock valued at $115,000 after purchasing an additional 400 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Simmons First National by 60.9% during the 1st quarter. SG Americas Securities LLC now owns 5,928 shares of the bank's stock valued at $155,000 after purchasing an additional 2,243 shares in the last quarter. Finally, Mendel Capital Management LLC bought a new position in shares of Simmons First National during the 4th quarter valued at about $216,000. Institutional investors and hedge funds own 13.38% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Simmons First National to $24.50 in a research report on Monday, July 4th. StockNews.com lowered shares of Simmons First National from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Stephens raised their price objective on shares of Simmons First National to $25.00 in a research report on Monday, July 25th.

Simmons First National Stock Performance

Shares of SFNC remained flat at $23.49 during midday trading on Monday. 23,543 shares of the company's stock traded hands, compared to its average volume of 717,746. Simmons First National Co. has a one year low of $19.87 and a one year high of $32.76. The stock's fifty day moving average price is $22.86 and its 200-day moving average price is $24.81. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 12.05 and a beta of 0.86. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.45.

Simmons First National (NASDAQ:SFNC – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.46 by $0.06. Simmons First National had a net margin of 25.19% and a return on equity of 8.73%. The company had revenue of $225.28 million during the quarter, compared to analysts' expectations of $228.57 million. During the same period last year, the company posted $0.69 earnings per share. On average, analysts expect that Simmons First National Co. will post 2.33 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, September 14th. Simmons First National's dividend payout ratio is currently 38.97%.

Insider Buying and Selling

In related news, Director Dean O. Bass sold 7,334 shares of the firm's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.88, for a total transaction of $175,135.92. Following the completion of the sale, the director now directly owns 230,680 shares in the company, valued at $5,508,638.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Dean O. Bass sold 7,334 shares of the firm's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.88, for a total transaction of $175,135.92. Following the transaction, the director now owns 230,680 shares of the company's stock, valued at $5,508,638.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dean O. Bass sold 8,810 shares of the firm's stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $22.86, for a total transaction of $201,396.60. Following the transaction, the director now directly owns 244,535 shares in the company, valued at approximately $5,590,070.10. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

About Simmons First National

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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.