Simmons First National Corporation $SFNC Shares Sold by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners Inc reduced its stake in Simmons First National Corporation by 7.2%, holding 817,476 shares after selling 63,106 shares in the first quarter.
• Several hedge funds, including Cresset Asset Management and Cerity Partners, have recently increased their stakes in Simmons First National, contributing to 27.58% of the stock being owned by institutional investors.
• Analysts have adjusted ratings and price targets for Simmons First National, with an average target price now set at $22.75 and a consensus rating of "Moderate Buy."

Rhino Investment Partners Inc reduced its holdings in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 817,476 shares of the bank's stock after selling 63,106 shares during the period. Simmons First National comprises 4.1% of Rhino Investment Partners Inc's holdings, making the stock its 9th largest position. Rhino Investment Partners Inc owned about 0.65% of Simmons First National worth $16,783,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SFNC. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Simmons First National in the fourth quarter valued at approximately $36,000. Quarry LP acquired a new stake in Simmons First National in the fourth quarter valued at approximately $47,000. SouthState Corp acquired a new stake in Simmons First National in the first quarter valued at approximately $71,000. Sterling Capital Management LLC grew its holdings in Simmons First National by 813.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock valued at $87,000 after purchasing an additional 3,483 shares during the period. Finally, CWM LLC grew its holdings in Simmons First National by 99.0% in the first quarter. CWM LLC now owns 4,625 shares of the bank's stock valued at $95,000 after purchasing an additional 2,301 shares during the period. 27.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Charles Daniel Hobbs acquired 5,400 shares of Simmons First National stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average price of $18.50 per share, for a total transaction of $99,900.00. Following the completion of the transaction, the chief financial officer owned 10,213 shares in the company, valued at $188,940.50. This represents a 112.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George Makris, Jr. acquired 28,075 shares of Simmons First National stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $18.50 per share, for a total transaction of $519,387.50. Following the transaction, the chief executive officer owned 29,550 shares of the company's stock, valued at $546,675. This represents a 1,903.39% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 100,755 shares of company stock valued at $1,865,332 in the last 90 days. 1.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SFNC shares. Keefe, Bruyette & Woods raised their price objective on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 21st. DA Davidson raised their target price on Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Zacks Research upgraded Simmons First National from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Simmons First National Price Performance

Shares of NASDAQ SFNC traded up $0.22 during midday trading on Tuesday, hitting $20.81. The stock had a trading volume of 198,214 shares, compared to its average volume of 850,901. The company has a market capitalization of $3.01 billion, a PE ratio of 16.38 and a beta of 0.95. The stock has a 50 day simple moving average of $19.53 and a 200-day simple moving average of $19.68. Simmons First National Corporation has a 1 year low of $17.20 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 0.28.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.04. Simmons First National had a return on equity of 5.23% and a net margin of 11.19%.The firm had revenue of $214.18 million for the quarter, compared to the consensus estimate of $217.21 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

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.