Simmons First National Corporation $SFNC Stock Position Reduced by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in Simmons First National Corporation (NASDAQ:SFNC) by 8.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 233,876 shares of the bank’s stock after selling 22,570 shares during the quarter. Peregrine Capital Management LLC’s holdings in Simmons First National were worth $4,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SFNC. EverSource Wealth Advisors LLC boosted its stake in shares of Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after buying an additional 1,104 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Simmons First National by 35.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after acquiring an additional 495 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Simmons First National by 32.0% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after acquiring an additional 644 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Simmons First National during the fourth quarter worth $66,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Simmons First National during the fourth quarter worth $76,000. Hedge funds and other institutional investors own 27.58% of the company’s stock.

Simmons First National Stock Performance

Shares of SFNC opened at $23.22 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. Simmons First National Corporation has a 12 month low of $17.00 and a 12 month high of $23.37. The company’s fifty day moving average is $21.61 and its 200-day moving average is $20.51. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -9.07 and a beta of 0.90.

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

Simmons First National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.215 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 3.7%. Simmons First National’s payout ratio is currently -33.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research cut Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. DA Davidson reaffirmed a “neutral” rating and issued a $21.00 target price on shares of Simmons First National in a research report on Friday, April 17th. Stephens raised their price target on Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Morgan Stanley reiterated a “positive” rating on shares of Simmons First National in a report on Monday. Finally, Weiss Ratings raised Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. 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, Simmons First National has an average rating of “Moderate Buy” and an average price target of $23.00.

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.