Peregrine Capital Management LLC Decreases Holdings in Simmons First National Corporation (NASDAQ:SFNC)

Peregrine Capital Management LLC decreased its holdings in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,517 shares of the bank's stock after selling 14,083 shares during the period. Peregrine Capital Management LLC owned about 0.21% of Simmons First National worth $5,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp bought a new position in shares of Simmons First National in the fourth quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Simmons First National in the 4th quarter valued at about $36,000. Quarry LP bought a new position in Simmons First National in the 4th quarter worth about $47,000. Smartleaf Asset Management LLC increased its position in shares of Simmons First National by 168.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,144 shares of the bank's stock worth $48,000 after acquiring an additional 1,345 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of Simmons First National by 813.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock valued at $87,000 after acquiring an additional 3,483 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SFNC has been the topic of several research analyst reports. Stephens dropped their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods cut their price target on Simmons First National from $23.00 to $21.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler upgraded Simmons First National from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $20.00 to $21.00 in a report on Monday, April 21st.

Simmons First National Stock Up 1.4%

SFNC stock traded up $0.29 during trading on Friday, hitting $20.33. 369,360 shares of the company's stock traded hands, compared to its average volume of 636,264. The firm has a market capitalization of $2.56 billion, a P/E ratio of 17.53 and a beta of 0.92. Simmons First National Corporation has a 1 year low of $17.01 and a 1 year high of $25.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $20.37.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.10). The company had revenue of $209.58 million during the quarter, compared to analysts' expectations of $209.00 million. Simmons First National had a net margin of 10.10% and a return on equity of 4.86%. During the same quarter in the prior year, the business posted $0.32 earnings per share. Sell-side analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current year.

Simmons First National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.2125 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.85 annualized dividend and a yield of 4.18%. Simmons First National's dividend payout ratio (DPR) is presently 73.28%.

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.