AlphaQuest LLC Grows Stock Position in Simmons First National Corporation $SFNC

Key Points

• AlphaQuest LLC significantly increased its stake in Simmons First National Corporation by 327.4%, owning 107,192 shares valued at $2.2 million.
• During the same quarter, other institutional investors also increased their positions, with Westwood Holdings Group Inc. raising theirs by 119.9%, totaling nearly $71.5 million in value.
• Simmons First National reported a quarterly earnings per share of $0.44, exceeding expectations and representing an 8.6% year-over-year revenue increase, despite a slight miss on revenue estimates.

AlphaQuest LLC grew its stake in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 327.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,192 shares of the bank's stock after purchasing an additional 82,113 shares during the quarter. AlphaQuest LLC owned approximately 0.09% of Simmons First National worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its holdings in Simmons First National by 70.8% during the first quarter. Hsbc Holdings PLC now owns 26,342 shares of the bank's stock worth $540,000 after purchasing an additional 10,923 shares in the last quarter. Quantbot Technologies LP raised its holdings in Simmons First National by 71.2% during the first quarter. Quantbot Technologies LP now owns 68,595 shares of the bank's stock worth $1,408,000 after purchasing an additional 28,523 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Simmons First National by 234.7% during the first quarter. Raymond James Financial Inc. now owns 153,661 shares of the bank's stock worth $3,155,000 after purchasing an additional 107,752 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Simmons First National during the first quarter worth approximately $457,000. Finally, Russell Investments Group Ltd. raised its holdings in Simmons First National by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 89,439 shares of the bank's stock worth $1,836,000 after purchasing an additional 3,116 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Insider Activity at Simmons First National

In related news, COO Steenberg Christopher J. Van bought 13,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were bought at an average cost of $18.50 per share, for a total transaction of $249,750.00. Following the transaction, the chief operating officer owned 13,500 shares of the company's stock, valued at approximately $249,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Russell William Teubner bought 9,200 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $18.62 per share, for a total transaction of $171,304.00. Following the completion of the transaction, the director directly owned 53,220 shares in the company, valued at approximately $990,956.40. This represents a 20.90% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 100,755 shares of company stock worth $1,865,332. 1.91% of the stock is currently owned by insiders.

Simmons First National Stock Performance

SFNC traded down $0.27 during trading on Monday, hitting $20.59. The stock had a trading volume of 762,465 shares, compared to its average volume of 855,064. The firm has a market capitalization of $2.98 billion, a P/E ratio of 16.21 and a beta of 0.95. Simmons First National Corporation has a twelve month low of $17.20 and a twelve month high of $25.95. The company's 50-day moving average price is $19.53 and its 200 day moving average price is $19.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 0.80.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. The company had revenue of $214.18 million for the quarter, compared to analyst estimates of $217.21 million. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, equities research analysts forecast that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SFNC. Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Zacks Research raised shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Keefe, Bruyette & Woods lifted their target price on shares of Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Finally, DA Davidson lifted their target price on shares of Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Simmons First National presently has an average rating of "Moderate Buy" and a consensus price target of $22.75.

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.