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Simmons First National Co. (NASDAQ:SFNC) Shares Bought by State of Alaska Department of Revenue

Defense World ·  Sep 25, 2022 04:41

State of Alaska Department of Revenue grew its stake in Simmons First National Co. (NASDAQ:SFNC – Get Rating) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,879 shares of the bank's stock after purchasing an additional 17,250 shares during the period. State of Alaska Department of Revenue's holdings in Simmons First National were worth $2,038,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Strs Ohio boosted its position in Simmons First National by 10.0% in the 1st quarter. Strs Ohio now owns 4,400 shares of the bank's stock worth $115,000 after purchasing an additional 400 shares in the last quarter. Cadence Bank boosted its position in Simmons First National by 2.3% in the 1st quarter. Cadence Bank now owns 20,732 shares of the bank's stock worth $544,000 after purchasing an additional 460 shares in the last quarter. Natixis Advisors L.P. boosted its position in Simmons First National by 1.8% in the 1st quarter. Natixis Advisors L.P. now owns 28,625 shares of the bank's stock worth $751,000 after purchasing an additional 514 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Simmons First National by 3.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 16,242 shares of the bank's stock worth $426,000 after purchasing an additional 553 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Simmons First National by 2.6% in the 1st quarter. Cetera Investment Advisers now owns 22,731 shares of the bank's stock worth $596,000 after purchasing an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company's stock.

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Insider Buying and Selling at Simmons First National

In other Simmons First National news, Director Dean O. Bass sold 7,334 shares of the firm's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.88, for a total value of $175,135.92. Following the transaction, the director now owns 230,680 shares in the company, valued at approximately $5,508,638.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Simmons First National news, Director Dean O. Bass sold 8,810 shares of the firm's stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $22.86, for a total value of $201,396.60. Following the completion of the sale, the director now directly owns 244,535 shares of the company's stock, valued at approximately $5,590,070.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dean O. Bass sold 7,334 shares of the firm's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.88, for a total value of $175,135.92. Following the completion of the sale, the director now directly owns 230,680 shares of the company's stock, valued at $5,508,638.40. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SFNC. Piper Sandler decreased their target price on Simmons First National to $24.50 in a research report on Monday, July 4th. Stephens increased their target price on Simmons First National to $25.00 in a research report on Monday, July 25th. Finally, StockNews.com upgraded Simmons First National from a "sell" rating to a "hold" rating in a research report on Wednesday.

Simmons First National Trading Down 1.5 %

Shares of SFNC stock opened at $22.80 on Friday. The stock's fifty day moving average is $23.65 and its two-hundred day moving average is $24.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $2.93 billion, a P/E ratio of 11.69 and a beta of 0.86. Simmons First National Co. has a fifty-two week low of $19.87 and a fifty-two week high of $32.76.

Simmons First National (NASDAQ:SFNC – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The bank reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.06. The company had revenue of $225.28 million for the quarter, compared to analyst estimates of $228.57 million. Simmons First National had a return on equity of 8.73% and a net margin of 25.19%. During the same quarter last year, the firm posted $0.69 EPS. Research 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.76 dividend on an annualized basis and a yield of 3.33%. Simmons First National's payout ratio is currently 38.97%.

Simmons First National Company Profile

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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.

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