Reliant Investment Management LLC Cuts Stock Position in Simmons First National Co. (NASDAQ:SFNC)

Reliant Investment Management LLC decreased its holdings in Simmons First National Co. (NASDAQ:SFNC) by 28.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,113 shares of the bank’s stock after selling 5,900 shares during the quarter. Reliant Investment Management LLC’s holdings in Simmons First National were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SFNC. Cetera Investment Advisers grew its stake in shares of Simmons First National by 3.8% in the second quarter. Cetera Investment Advisers now owns 59,025 shares of the bank’s stock worth $1,038,000 after acquiring an additional 2,174 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Simmons First National by 24.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 26,347 shares of the bank’s stock worth $469,000 after purchasing an additional 5,112 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Simmons First National by 9,443.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,395,980 shares of the bank’s stock worth $24,541,000 after purchasing an additional 1,381,353 shares in the last quarter. Silver Lake Advisory LLC purchased a new stake in Simmons First National during the 2nd quarter worth about $283,000. Finally, Algert Global LLC acquired a new stake in Simmons First National in the 2nd quarter valued at about $222,000. Institutional investors and hedge funds own 27.58% of the company’s stock.

Insider Activity at Simmons First National

In other news, Chairman George Makris, Jr. sold 21,420 shares of Simmons First National stock in a transaction on Friday, July 26th. The shares were sold at an average price of $21.58, for a total value of $462,243.60. Following the transaction, the chairman now directly owns 608,347 shares of the company’s stock, valued at $13,128,128.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Robert A. Fehlman sold 8,680 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $21.93, for a total transaction of $190,352.40. Following the completion of the sale, the chief executive officer now directly owns 156,357 shares of the company’s stock, valued at $3,428,909.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman George Makris, Jr. sold 21,420 shares of Simmons First National stock in a transaction on Friday, July 26th. The shares were sold at an average price of $21.58, for a total transaction of $462,243.60. Following the completion of the transaction, the chairman now owns 608,347 shares in the company, valued at approximately $13,128,128.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,700 shares of company stock valued at $728,952 in the last three months. 1.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on SFNC shares. Stephens upped their target price on shares of Simmons First National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Simmons First National from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Piper Sandler lifted their price objective on shares of Simmons First National from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their target price on Simmons First National from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.75.

Simmons First National Stock Down 0.6 %

SFNC stock opened at $21.27 on Wednesday. The stock has a market cap of $2.67 billion, a P/E ratio of 15.99 and a beta of 0.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Simmons First National Co. has a twelve month low of $13.36 and a twelve month high of $22.45. The company’s 50 day moving average is $20.70 and its two-hundred day moving average is $19.06.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Simmons First National had a net margin of 10.49% and a return on equity of 5.33%. The firm had revenue of $372.44 million for the quarter, compared to analyst estimates of $197.30 million. During the same period last year, the business earned $0.48 EPS. Research analysts expect that Simmons First National Co. will post 1.32 earnings per share for the current fiscal year.

Simmons First National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.95%. Simmons First National’s dividend payout ratio (DPR) is presently 63.16%.

Simmons First National Company Profile

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. The company 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; treasury management; insurance products; and securities and investment services.