Simmons First National Co. (NASDAQ:SFNC) Stake Cut by Principal Financial Group Inc. (2024)

Posted by Defense World Staff on May 25th, 2024

Principal Financial Group Inc. lessened its holdings in Simmons First National Co. (NASDAQ:SFNC – Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,250 shares of the bank’s stock after selling 28,527 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Simmons First National worth $12,941,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its position in shares of Simmons First National by 8.1% during the 4th quarter. QRG Capital Management Inc. now owns 13,984 shares of the bank’s stock valued at $277,000 after buying an additional 1,043 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Simmons First National during the fourth quarter valued at approximately $414,000. Everpar Advisors LLC acquired a new stake in shares of Simmons First National during the 4th quarter worth approximately $1,560,000. Simmons Bank lifted its holdings in shares of Simmons First National by 9.8% in the 4th quarter. Simmons Bank now owns 1,977,793 shares of the bank’s stock worth $39,239,000 after purchasing an additional 175,716 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Simmons First National by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,603,937 shares of the bank’s stock valued at $31,822,000 after purchasing an additional 69,560 shares during the period. Institutional investors own 27.58% of the company’s stock.

Insider Buying and Selling at Simmons First National

In other news, EVP George A. Makris III sold 15,625 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $269,218.75. Following the completion of the sale, the executive vice president now owns 39,707 shares in the company, valued at $684,151.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.91% of the stock is currently owned by corporate insiders.

Simmons First National Trading Up 0.7 %

NASDAQ:SFNC opened at $17.65 on Friday. Simmons First National Co. has a 1 year low of $13.36 and a 1 year high of $20.82. The business has a fifty day moving average of $18.28 and a 200-day moving average of $18.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 13.27 and a beta of 0.90.

Simmons First National (NASDAQ:SFNC – Get Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $195.10 million for the quarter, compared to analysts’ expectations of $202.35 million. Simmons First National had a net margin of 11.97% and a return on equity of 5.94%. Simmons First National’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Equities analysts predict that Simmons First National Co. will post 1.31 earnings per share for the current year.

Simmons First National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.84 dividend on an annualized basis and a yield of 4.76%. Simmons First National’s dividend payout ratio (DPR) is 63.16%.

Analyst Ratings Changes

SFNC has been the topic of several analyst reports. Stephens dropped their target price on Simmons First National from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price objective on shares of Simmons First National from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com lowered shares of Simmons First National from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.00.

Get Our Latest Report on SFNC

About Simmons First National

(Free Report)

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.

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