Insider Buying: Simmons First National Corporation (NASDAQ:SFNC) CEO Buys 28,075 Shares of Stock

Simmons First National Corporation (NASDAQ:SFNC - Get Free Report) CEO George Makris, Jr. purchased 28,075 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of $18.50 per share, with a total value of $519,387.50. Following the purchase, the chief executive officer directly owned 29,550 shares in the company, valued at approximately $546,675. The trade was a 1,903.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Simmons First National Stock Performance

Shares of NASDAQ SFNC traded down $0.45 during midday trading on Thursday, reaching $19.66. The company's stock had a trading volume of 4,203,560 shares, compared to its average volume of 819,213. Simmons First National Corporation has a 12-month low of $17.20 and a 12-month high of $25.95. The firm has a 50 day moving average price of $19.24 and a 200-day moving average price of $20.16. The stock has a market capitalization of $2.48 billion, a P/E ratio of 15.48 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.80 and a quick ratio of 0.80.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share 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 in the previous year, the business earned $0.33 EPS. The company's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Simmons First National Corporation will post 1.66 earnings per share for the current year.

Simmons First National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.32%. Simmons First National's payout ratio is presently 66.93%.

Hedge Funds Weigh In On Simmons First National

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Simmons First National in the 4th quarter worth approximately $1,018,000. HighTower Advisors LLC raised its holdings in shares of Simmons First National by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 19,600 shares of the bank's stock worth $435,000 after purchasing an additional 812 shares during the period. Natixis Advisors LLC raised its holdings in shares of Simmons First National by 32.1% in the 4th quarter. Natixis Advisors LLC now owns 20,606 shares of the bank's stock worth $457,000 after purchasing an additional 5,006 shares during the period. Corient Private Wealth LLC raised its holdings in Simmons First National by 30.5% during the 4th quarter. Corient Private Wealth LLC now owns 13,496 shares of the bank's stock valued at $300,000 after acquiring an additional 3,157 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Simmons First National during the 4th quarter valued at $258,000. Hedge funds and other institutional investors own 27.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler upgraded Simmons First National from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $20.00 to $21.00 in a research note on Monday, April 21st. Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods lifted their price target on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday. Stephens cut their price target on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, DA Davidson lifted their price target on Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.