Basswood Capital Management L.L.C. Has $21.55 Million Holdings in Simmons First National Corporation $SFNC

Basswood Capital Management L.L.C. increased its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC) by 325.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,143,055 shares of the bank’s stock after buying an additional 874,513 shares during the quarter. Basswood Capital Management L.L.C. owned 0.79% of Simmons First National worth $21,547,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake 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 buying an additional 1,104 shares during the period. Hantz Financial Services Inc. raised its stake 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 buying an additional 495 shares during the period. Jones Financial Companies Lllp raised its stake in Simmons First National by 42.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock worth $43,000 after buying an additional 649 shares during the period. Osaic Holdings Inc. raised its stake in Simmons First National by 32.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after buying an additional 644 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in Simmons First National during the 4th quarter worth $66,000. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Stock Performance

Shares of Simmons First National stock opened at $22.51 on Friday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -8.79 and a beta of 0.91. The stock’s 50-day moving average is $21.10 and its 200-day moving average is $20.17. Simmons First National Corporation has a one year low of $17.00 and a one year high of $22.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.

Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $241.37 million for the quarter, compared to analyst estimates of $243.02 million. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Equities analysts predict that Simmons First National Corporation will post 2.08 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.8%. Simmons First National’s payout ratio is currently -33.59%.

Simmons First National announced that its board has initiated a share repurchase plan on Tuesday, February 17th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings upgraded Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Morgan Stanley cut their price target on Simmons First National from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Stephens boosted their price target on Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, DA Davidson restated a “neutral” rating and issued a $21.00 price target on shares of Simmons First National in a report on Friday, April 17th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

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.