Simmons First National falls after $300 million stock offering

Simmons First National

22/07/2025 12:39

** Regional lender Simmons First National's SFNC.O shares down 5.4% at $19 premarket

** SFNC sold 16.2 million shares at $18.50 apiece for gross proceeds of $300 million

** Bank had initially planned on raising $250 million in the follow-on stock offering

** Stock offering priced at 7.9% discount to the last close

** Proceeds will be used for general purposes, including potential balance sheet repositioning

** Bank is mulling dumping over $3 billion of low-yielding securities to bolster earnings profile

** Stephens, Keefe, Bruyette & Woods and Morgan Stanley were the joint book-running managers for the offering

** 1 of 6 brokerages rate the stock "strong buy" and 5 "hold"; median PT $22 - data compiled by LSEG

** As of last close, SFNC stock down 9.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))