Fund Trims Simmons First National by $13 Million as Shares Lag the S&P 500

On May 15, 2026, Rhino Investment Partners, Inc disclosed in a Securities and Exchange Commission (SEC) filing that it sold 642,196 shares of Simmons First National Corporation (NASDAQ:SFNC), an estimated $12.82 million trade based on quarterly average pricing.

What happened

According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Rhino Investment Partners reduced its position in Simmons First National Corporation by 642,196 shares during the first quarter. The estimated transaction value was $12.82 million based on the average unadjusted closing price for the period. The quarter-end value of the stake decreased by $11.67 million, reflecting both the sale of shares and changes in the stock’s market price.

What else to know

• Rhino Investment Partners, Inc’s SFNC stake now accounts for about 4% of its 13F AUM, down from 7.3% in the prior quarter.
• Top holdings after the filing:
  • NASDAQ:HOPE: $28.99 million (8.1% of AUM)
  • NASDAQ:WSBC: $24.27 million (6.8% of AUM)
  • NASDAQ:HAFC: $23.25 million (6.5% of AUM)
  • NYSE:ASB: $21.31 million (5.9% of AUM)
  • NSE:FNB: $20.19 million (5.6% of AUM)
• As of Friday, shares of Simmons First National Corporation were priced at $21.45, up 14% over the past year and underperforming the S&P 500, which is up 28%.

Company overview

Company snapshot

• SFNC offers a comprehensive suite of banking products, including deposit accounts, consumer and commercial loans, trust and fiduciary services, credit cards, and investment management solutions.
• The firm serves individuals, small businesses, and commercial clients across Arkansas, Missouri, Tennessee, Texas, Oklahoma, and Kansas.
• It operates through a broad branch network and digital banking platform to reach a wide customer base.

Simmons First National Corporation is a regional bank holding company with a diversified portfolio of financial services and a significant presence in the South-Central United States. The company leverages its branch network and digital capabilities to serve a broad range of customers.

What this transaction means for investors

Even after trimming its Simmons position, Rhino Investment Partners retained a meaningful stake, suggesting the firm still sees value in the regional lender's turnaround story. Meanwhile, Simmons has actually been improving many of the metrics that matter most for banks. First-quarter loans grew at a 10% annualized linked-quarter pace, while net interest margin expanded to 3.84% from 3.81% in the prior quarter. Plus, net income reached $68.5 million, more than double the $32.4 million reported a year earlier.

CEO Jay Brogdon said results were driven by strong loan growth, expanding margin, and continued earnings momentum, adding that management is becoming increasingly optimistic about achieving returns above its long-term targets.

The balance sheet also remains solid. Simmons ended the quarter with a tangible common equity ratio of 8.74%, a CET1 ratio of 11.58%, and net charge-offs of just 0.21%.

It remains to be seen how well management can sustain loan growth without sacrificing credit quality, but if margins continue expanding and credit remains healthy, Simmons could have more room to run despite trailing the broader market over the past year.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.