AlphaQuest LLC Cuts Stake in Simmons First National Corporation $SFNC

Key Points

• AlphaQuest LLC has reduced its stake in Simmons First National Corporation by 36.7%, now holding 67,799 shares valued at approximately $1.285 million.
• During the same period, Westwood Holdings Group Inc. and other hedge funds significantly increased their stakes, with Westwood raising its holdings by 119.9% to 3,483,147 shares.
• Simmons First National reported quarterly earnings of $0.46 EPS, slightly below analyst expectations, despite a 14.4% increase in revenue year-over-year.

AlphaQuest LLC cut its stake in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 36.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,799 shares of the bank's stock after selling 39,393 shares during the quarter. AlphaQuest LLC's holdings in Simmons First National were worth $1,285,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Westwood Holdings Group Inc. increased its stake in Simmons First National by 119.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,483,147 shares of the bank's stock valued at $71,509,000 after purchasing an additional 1,899,407 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Simmons First National by 140.6% during the first quarter. Invesco Ltd. now owns 1,518,806 shares of the bank's stock valued at $31,181,000 after buying an additional 887,603 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Simmons First National by 1,179.6% during the first quarter. MetLife Investment Management LLC now owns 969,027 shares of the bank's stock valued at $19,894,000 after acquiring an additional 893,298 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Simmons First National by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 691,328 shares of the bank's stock worth $14,193,000 after acquiring an additional 17,888 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Simmons First National by 1.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 668,003 shares of the bank's stock worth $13,714,000 after acquiring an additional 7,279 shares during the last quarter. Institutional investors own 27.58% of the company's stock.

Simmons First National Trading Up 0.5%

Shares of NASDAQ:SFNC opened at $17.87 on Friday. The stock's 50-day simple moving average is $19.72 and its two-hundred day simple moving average is $19.32. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.10 and a beta of 0.94. Simmons First National Corporation has a 52-week low of $17.20 and a 52-week high of $25.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.88 and a current ratio of 0.88.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $232.54 million during the quarter, compared to the consensus estimate of $103.26 million. Simmons First National had a positive return on equity of 5.84% and a negative net margin of 29.70%.Simmons First National's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Analysts expect that Simmons First National Corporation will post 1.66 EPS for the current year.

Simmons First National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.2125 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.8%. Simmons First National's payout ratio is presently -29.01%.

Wall Street Analyst Weigh In

Several analysts have commented on SFNC shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Simmons First National in a research note on Saturday. Zacks Research downgraded Simmons First National from a "strong-buy" rating to a "hold" rating in a report on Monday, October 13th. Keefe, Bruyette & Woods decreased their target price on Simmons First National from $22.00 to $21.00 and set a "market perform" rating for the company in a research report on Monday, October 20th. Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, DA Davidson lifted their price target on shares of Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.50.

Insider Buying and Selling at Simmons First National

In related news, Director Russell William Teubner bought 9,200 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $18.62 per share, with a total value of $171,304.00. Following the acquisition, the director owned 53,220 shares in the company, valued at $990,956.40. This trade represents a 20.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David W. Garner bought 3,000 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The shares were bought at an average price of $17.66 per share, for a total transaction of $52,980.00. Following the completion of the transaction, the executive vice president directly owned 72,345 shares of the company's stock, valued at $1,277,612.70. This represents a 4.33% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 14,200 shares of company stock valued at $261,544 over the last 90 days. 1.44% of the stock is currently owned by company insiders.

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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