King Luther Capital Management Corp Trims Stock Holdings in Simmons First National Co. (NASDAQ:SFNC)

King Luther Capital Management Corp reduced its stake in shares of Simmons First National Co. (NASDAQ:SFNC) by 56.7% during the second quarter, Holdings Channel reports. The institutional investor owned 50,059 shares of the bank’s stock after selling 65,437 shares during the period. King Luther Capital Management Corp’s holdings in Simmons First National were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Simmons First National during the fourth quarter valued at approximately $27,751,000. Trexquant Investment LP bought a new position in Simmons First National in the 4th quarter worth $1,155,000. TFO Wealth Partners LLC increased its stake in Simmons First National by 250,150.0% in the 4th quarter. TFO Wealth Partners LLC now owns 10,010 shares of the bank’s stock worth $199,000 after buying an additional 10,006 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Simmons First National during the fourth quarter valued at about $875,000. Finally, Rafferty Asset Management LLC lifted its position in shares of Simmons First National by 68.4% in the fourth quarter. Rafferty Asset Management LLC now owns 134,522 shares of the bank’s stock valued at $2,669,000 after acquiring an additional 54,631 shares in the last quarter. 27.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Simmons First National

In related news, CAO David W. Garner sold 3,600 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $21.21, for a total transaction of $76,356.00. Following the completion of the transaction, the chief accounting officer now owns 64,966 shares in the company, valued at approximately $1,377,928.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Robert A. Fehlman sold 8,680 shares of Simmons First National stock in a transaction dated Friday, July 26th. The shares were 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 owns 156,357 shares in the company, valued at approximately $3,428,909.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David W. Garner sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $21.21, for a total value of $76,356.00. Following the completion of the sale, the chief accounting officer now owns 64,966 shares of the company’s stock, valued at approximately $1,377,928.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,700 shares of company stock worth $728,952. 1.91% of the stock is currently owned by company insiders.

Simmons First National Price Performance

NASDAQ:SFNC opened at $21.60 on Monday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 16.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $20.65 and a 200-day simple moving average of $18.86. Simmons First National Co. has a 1 year low of $13.36 and a 1 year high of $22.45.

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Wednesday, July 24th. The bank reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $372.44 million for the quarter, compared to the consensus estimate of $197.30 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Equities analysts forecast that Simmons First National Co. will post 1.32 EPS for the current year.

Simmons First National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.89%. Simmons First National’s dividend payout ratio is 63.16%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stephens increased their target price on Simmons First National from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Simmons First National from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Piper Sandler lifted their target price on Simmons First National from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price target on Simmons First National from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Simmons First National currently has a consensus rating of “Hold” and a consensus target price of $21.75.

About Simmons First National

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.