By otakuyassine3@gmail.com 
Corebridge Financial Inc. lowered its holdings in Simmons First National Co. (NASDAQ:SFNC – Free Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,137 shares of the bank’s stock after selling 5,163 shares during the period. Corebridge Financial Inc.’s holdings in Simmons First National were worth $1,467,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. FMR LLC increased its holdings in Simmons First National by 5.5% in the 3rd quarter. FMR LLC now owns 7,778 shares of the bank’s stock valued at $168,000 after purchasing an additional 403 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Simmons First National by 6.3% in the fourth quarter. CIBC Asset Management Inc now owns 12,581 shares of the bank’s stock valued at $279,000 after buying an additional 751 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Simmons First National by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 19,600 shares of the bank’s stock valued at $435,000 after buying an additional 812 shares in the last quarter. Jag Capital Management LLC lifted its position in Simmons First National by 1.0% during the 4th quarter. Jag Capital Management LLC now owns 120,421 shares of the bank’s stock worth $2,671,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Simmons First National in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 27.58% of the company’s stock.
Simmons First National Stock Down 8.3 %
Shares of NASDAQ SFNC opened at $18.84 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.79 and a current ratio of 0.79. Simmons First National Co. has a 1 year low of $16.03 and a 1 year high of $25.95. The stock’s 50-day simple moving average is $21.51 and its 200-day simple moving average is $22.44. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 15.57 and a beta of 0.84.
Simmons First National (NASDAQ:SFNC – Get Free Report) last announced its earnings results on Tuesday, January 21st. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Simmons First National had a return on equity of 5.10% and a net margin of 10.46%. The company had revenue of $208.50 million for the quarter, compared to analyst estimates of $208.67 million. During the same period in the prior year, the company posted $0.40 EPS. Simmons First National’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts anticipate that Simmons First National Co. will post 1.66 earnings per share for the current fiscal year.
Simmons First National Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.2125 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.85 annualized dividend and a dividend yield of 4.51%. This is an increase from Simmons First National’s previous quarterly dividend of $0.21. Simmons First National’s payout ratio is presently 70.25%.
Analyst Ratings Changes
Separately, Stephens dropped their price objective on shares of Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.
Read Our Latest Analysis on SFNC
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.
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