Millennium Management LLC Sells 616,508 Shares of Simmons First National Co. (NASDAQ:SFNC)

Millennium Management LLC cut its holdings in Simmons First National Co. (NASDAQ:SFNC - Free Report) by 45.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,027 shares of the bank's stock after selling 616,508 shares during the period. Millennium Management LLC owned 0.60% of Simmons First National worth $16,591,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Simmons First National by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,640 shares of the bank's stock worth $1,567,000 after purchasing an additional 2,678 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Simmons First National during the 4th quarter worth approximately $462,000. FJ Capital Management LLC raised its holdings in shares of Simmons First National by 35.1% during the 4th quarter. FJ Capital Management LLC now owns 1,104,008 shares of the bank's stock worth $24,487,000 after acquiring an additional 286,622 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Simmons First National by 51.1% during the 4th quarter. Deutsche Bank AG now owns 107,976 shares of the bank's stock worth $2,395,000 after acquiring an additional 36,512 shares in the last quarter. Finally, Dean Capital Management raised its holdings in shares of Simmons First National by 5.5% during the 4th quarter. Dean Capital Management now owns 89,813 shares of the bank's stock worth $1,992,000 after acquiring an additional 4,671 shares in the last quarter. 27.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler raised Simmons First National from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $20.00 to $21.00 in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on Simmons First National from $23.00 to $21.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Finally, Stephens decreased their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 21st.

Simmons First National Trading Up 2.2%

Shares of NASDAQ SFNC traded up $0.41 during trading hours on Tuesday, hitting $19.21. 417,547 shares of the company traded hands, compared to its average volume of 614,826. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 15.88 and a beta of 0.91. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.32. The company's 50 day moving average price is $19.10 and its 200 day moving average price is $21.41. Simmons First National Co. has a 12 month low of $16.03 and a 12 month high of $25.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.10). The company had revenue of $209.58 million for the quarter, compared to the consensus estimate of $209.00 million. Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities research analysts anticipate that Simmons First National Co. will post 1.66 earnings per share for the current fiscal year.

Simmons First National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Friday, June 13th. Simmons First National's dividend payout ratio is currently 73.28%.

Simmons First National 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.