Squarepoint Ops LLC Sells 178,670 Shares of Simmons First National Corporation $SFNC

Key Points

• Squarepoint Ops LLC cut its Simmons First National stake by 56.1% in the second quarter, selling 178,670 shares and retaining 139,953 shares valued at approximately $3.17 million. Institutional investors collectively own 27.58% of the company.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $25.50, compared with its recent price of $23.19.
• Simmons First National reported quarterly EPS of $0.50, below the $0.53 consensus estimate, though revenue increased 16.1% year over year. The company also declared a quarterly dividend of $0.215 per share, representing a 3.7% annualized yield.

Squarepoint Ops LLC lessened its position in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 56.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,953 shares of the bank's stock after selling 178,670 shares during the quarter. Squarepoint Ops LLC owned 0.10% of Simmons First National worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Simmons First National during the 3rd quarter valued at about $129,282,000. California State Teachers Retirement System increased its stake in Simmons First National by 1,978.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,734,238 shares of the bank's stock worth $84,580,000 after purchasing an additional 3,554,556 shares during the period. Basswood Capital Management L.L.C. increased its stake in Simmons First National by 325.7% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank's stock worth $21,547,000 after purchasing an additional 874,513 shares during the period. Leeward Investments LLC MA bought a new stake in Simmons First National in the first quarter valued at approximately $15,744,000. Finally, Goldman Sachs Group Inc. lifted its position in Simmons First National by 97.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank's stock valued at $27,702,000 after purchasing an additional 725,489 shares during the last quarter. Hedge funds and other institutional investors own 27.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley cut shares of Simmons First National from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $24.00 to $26.00 in a report on Tuesday, September 8th. Keefe, Bruyette & Woods upgraded shares of Simmons First National from a "market perform" rating to an "outperform" rating and upped their price target for the company from $25.00 to $26.00 in a report on Thursday. Weiss Ratings reissued a "hold (c-)" rating on shares of Simmons First National in a research report on Tuesday, July 21st. Piper Sandler raised shares of Simmons First National from an "underweight" rating to an "overweight" rating and increased their price target for the company from $26.00 to $27.50 in a research report on Friday, September 4th. Finally, National Bank Financial set a $26.00 price target on shares of Simmons First National in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.50.

Simmons First National Stock Performance

SFNC opened at $23.19 on Monday. Simmons First National Corporation has a one year low of $17.00 and a one year high of $24.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $23.18 and a two-hundred day simple moving average of $21.67. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -9.17 and a beta of 0.89.

Simmons First National (NASDAQ:SFNC - Get Free Report) last posted its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.32%. Simmons First National's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Analysts predict that Simmons First National Corporation will post 2.06 EPS for the current year.

Simmons First National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.215 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.86 annualized dividend and a yield of 3.7%. Simmons First National's dividend payout ratio is -33.99%.

Simmons First National Profile

Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas. Through its principal subsidiary, Simmons Bank, the company provides banking and financial services to individuals, businesses, government entities and nonprofit organizations.

Simmons Bank offers deposit accounts, consumer and commercial lending, mortgages, credit cards, treasury and cash-management services, and other banking products. Its services also include wealth management, trust and investment services, insurance-related solutions and specialized financial services for businesses and agricultural customers.

Founded in 1903, the company has expanded from its original Arkansas banking operations through organic growth and acquisitions.

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