Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Simmons First National Corporation    SFNC

SIMMONS FIRST NATIONAL CORPORATION

(SFNC)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

SIMMONS FIRST NATIONAL CORP : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other Events, Financial Statements and Exhibits (form 8-K)

10/22/2020 | 04:20pm EST

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On October 21, 2020, the Board of Directors ("Board") of Simmons First National Corporation ("Corporation") approved an amendment to Article IV, Section 1 of the Corporation's bylaws ("Bylaws") to update the independence requirements for directors serving on the standing committees of the Corporation. Under Article IV, Section 1 of the Bylaws, as amended, all standing committees, except the Executive Committee and the Risk Committee, shall consist of independent directors. Previously, the Bylaws indicated that all standing committees except the Executive Committee should consist of independent directors.

The aforementioned amendment to the Bylaws is effective October 21, 2020. The full text of the Bylaws, as amended, is attached hereto as Exhibit 3.1 and incorporated herein by reference. This description of the amendment is qualified in its entirety by reference to the text thereof.

Item 8.01. Other Events.

On October 22, 2020, the Corporation announced the resumption of its previously authorized 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 Corporation's Class A common stock ("Common Stock"). The Corporation has not made any repurchases under the Program since March 31, 2020. As of October 22, 2020, the Corporation 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 Corporation'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 Corporation's working capital and investment requirements, general market and economic conditions, and legal requirements. The Program does not obligate the Corporation 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). A copy of the press release issued by the Corporation announcing the resumption of the Program is attached as Exhibit 99.1 and incorporated herein by reference.

Forward-Looking Statements

Certain statements in this Current Report on Form 8-K may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to the Corporation's future growth, profitability, and stock repurchase program. Any forward-looking statement speaks only as of the date of this Current Report on Form 8-K, and the Corporation undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date hereof. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, credit quality, interest rates, loan demand, deposit flows, the assumptions used in making the forward-looking statements, the securities markets generally and the price of the Corporation's Common Stock specifically, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional factors are included in the Corporation's Form 10-K for the year ended December 31, 2019, and the Corporation's Form 10-Q for the quarter ended June 30, 2020, which have been filed with, and are available from, the U.S. Securities and Exchange Commission.

Item 9.01. Financial Statements and Exhibits.

  Exhibit 3.1         By-Laws of Simmons First National Corporation, as amended
                    effective October 21, 2020.
  Exhibit 99.1        Press Release dated October 22, 2020.
Exhibit 104         Cover Page Interactive Data File (embedded within the
                    Inline XBRL document).

© Edgar Online, source Glimpses

All news about SIMMONS FIRST NATIONAL CORPORATION
11/13SIMMONS BANK : Named A Fastest-Growing Company by Fortune
PR
11/06SIMMONS FIRST NATIONAL : Management's Discussion and Analysis of Financial Condi..
AQ
11/04SIMMONS FIRST NATIONAL : Christian Lewis Named Simmons Bank Regional Community P..
PU
10/30SIMMONS FIRST NATIONAL : Bank Receives Platinum Elite Lender Status for SBA Lend..
PU
10/26SIMMONS FIRST NATIONAL CORPORATION : Declares $0.17 Per Share Dividend
AQ
10/26Simmons First National Corporation Declares $0.17 Per Share Dividend
GL
10/22SIMMONS FIRST NATIONAL CORP : Amendments to Articles of Inc. or Bylaws; Change i..
AQ
10/22SIMMONS FIRST NATIONAL CORPORATION : Announces Resumption of Stock Repurchase Pr..
AQ
10/22Simmons First National Corporation Announces Resumption of Stock Repurchase P..
GL
10/19SIMMONS FIRST NATIONAL : 3rd Quarter 2020 Investor Presentation
PU
More news
Financials (USD)
Sales 2020 855 M - -
Net income 2020 243 M - -
Net Debt 2020 - - -
P/E ratio 2020 9,24x
Yield 2020 3,32%
Capitalization 2 230 M 2 230 M -
Capi. / Sales 2020 2,61x
Capi. / Sales 2021 2,83x
Nbr of Employees 3 270
Free-Float 98,5%
Chart SIMMONS FIRST NATIONAL CORPORATION
Duration : Period :
Simmons First National Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SIMMONS FIRST NATIONAL CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 20,30 $
Last Close Price 20,49 $
Spread / Highest target 17,1%
Spread / Average Target -0,93%
Spread / Lowest Target -14,6%
EPS Revisions
Managers
NameTitle
George A. Makris Chairman, Chief Executive Officer & Secretary
Robert A. Fehlman COO, CFO, Treasurer & Senior EVP
Paul D. Kanneman Chief Information Officer & Executive VP
Steven A. Cossé Lead Independent Director
Marty D. Casteel Director
Sector and Competitors
1st jan.Capitalization (M$)
SIMMONS FIRST NATIONAL CORPORATION-22.58%2 230
HDFC BANK LIMITED12.15%107 171
US BANCORP-24.64%66 600
BANCO SANTANDER, S.A.-31.04%51 068
BANK OF COMMUNICATIONS CO., LTD.-24.91%47 995
INTESA SANPAOLO S.P.A.-17.20%45 114