Dimensional Fund Advisors LP Sells 1,114,796 Shares of Simmons First National Corporation $SFNC

Key Points

• Dimensional Fund Advisors cut its Simmons First National stake by 15.1%, selling 1,114,796 shares and retaining 6.25 million shares valued at approximately $121.5 million. Institutional investors collectively own 27.58% of SFNC.
• Simmons First National reported quarterly EPS of $0.50, below the $0.53 consensus estimate, while revenue rose 16.1% year over year to $248.57 million. The bank also maintains a quarterly dividend of $0.215 per share, representing a 3.7% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $24.50, compared with its reported opening price of $22.97.

Dimensional Fund Advisors LP trimmed its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,245,676 shares of the bank's stock after selling 1,114,796 shares during the period. Dimensional Fund Advisors LP owned approximately 4.31% of Simmons First National worth $121,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SFNC. Bessemer Group Inc. lifted its holdings in shares of Simmons First National by 156.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank's stock valued at $29,000 after purchasing an additional 925 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 1,104 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Simmons First National by 35.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank's stock worth $36,000 after acquiring an additional 495 shares during the period. Osaic Holdings Inc. grew 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 period. Finally, Systematic Financial Management LP purchased a new position in shares of Simmons First National during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 27.58% of the company's stock.

Simmons First National Price Performance

Shares of NASDAQ:SFNC opened at $22.97 on Tuesday. The company has a market capitalization of $3.33 billion, a P/E ratio of -9.08 and a beta of 0.90. Simmons First National Corporation has a 1-year low of $17.00 and a 1-year high of $23.91. The firm's 50 day simple moving average is $22.24 and its two-hundred day simple moving average is $20.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.92.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a positive return on equity of 8.32% and a negative net margin of 24.64%.The firm had revenue of $248.57 million during the quarter, compared to the consensus estimate of $250.98 million. During the same period in the prior year, the company posted $0.44 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. Research analysts expect that Simmons First National Corporation will post 2.05 EPS for the current fiscal year.

Simmons First National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.215 per share. The ex-dividend date was Monday, June 15th. This represents a $0.86 annualized dividend and a dividend yield of 3.7%. Simmons First National's dividend payout ratio (DPR) is currently -33.99%.

Analyst Ratings Changes

SFNC has been the subject of a number of research reports. Stephens boosted their target price on shares of Simmons First National from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Morgan Stanley reaffirmed a "positive" rating on shares of Simmons First National in a report on Monday, June 29th. National Bank Financial set a $25.00 price objective on Simmons First National in a research report on Monday, July 20th. DA Davidson reissued a "neutral" rating and issued a $23.00 target price on shares of Simmons First National in a report on Friday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $25.00 target price on shares of Simmons First National in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Simmons First National presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

About Simmons First National

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.

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