Simmons First National Corporation Buyback
OLI recorded this information on 10/22/2020
Company:
Simmons First National Corporation
Buyback:
SFNC buyback
$Amount Authorized:
$180,000,000
Buyback Details:
Simmons First National Corporation (Nasdaq: SFNC) ("Company"), parent corporation of Simmons Bank, announced today the resumption of the Company's previously approved stock repurchase program ("Program"). The Program, which was originally authorized by the Board in October 2019 and amended by the Board in March 2020, allows for the repurchase of up to $180 million of the Company's Class A common stock ("Common Stock"). The Company has not made any repurchases under the Program since March 31, 2020. As of October 22, 2020, the Company has repurchased Common Stock with an aggregate purchase price of $103,435,703, leaving $76,564,297 available for Common Stock repurchases under the Program. The timing, pricing, and amount of any repurchases under the Program will be determined by the Company's management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the Common Stock, corporate considerations, the Company's working capital and investment requirements, general market and economic conditions, and legal requirements. The Program does not obligate the Company to repurchase any Common Stock and may be modified, discontinued, or suspended at any time without prior notice. The Program will terminate on October 31, 2021 (unless terminated sooner).
Simmons First National is a bank holding company. Co., through its subsidiaries, provides banking and other financial products and services in markets located in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Co.'s subsidiary, Simmons Bank extends loans for a range of corporate purposes, including financing commercial real estate, construction of particular properties, commercial and industrial uses, acquisition and equipment financings, and other general corporate needs. Simmons Bank engages in small business administration and agricultural finance lending, and it provides corporate credit card products, as well as corporate deposit products and treasury management services.
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Avg. Broker Rec.
 
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Hold (1.60 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: SFNC Stock Forecast Based on Zacks ABR data; powered by Xignite |
