AlphaQuest LLC Boosts Holdings 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 boosted its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 327.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,192 shares of the bank's stock after buying an additional 82,113 shares during the period. AlphaQuest LLC owned approximately 0.09% of Simmons First National worth $2,201,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SFNC. Point72 Asia Singapore Pte. Ltd. bought a new position in Simmons First National in the fourth quarter valued at $36,000. Quarry LP purchased a new stake in Simmons First National during the fourth quarter valued at about $47,000. SouthState Corp purchased a new stake in Simmons First National during the first quarter valued at about $71,000. CWM LLC boosted its position in Simmons First National by 99.0% during the first quarter. CWM LLC now owns 4,625 shares of the bank's stock valued at $95,000 after buying an additional 2,301 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Simmons First National during the fourth quarter valued at about $114,000. Institutional investors own 27.58% of the company's stock.

Simmons First National Stock Up 0.7%

Shares of NASDAQ SFNC traded up $0.16 on Wednesday, reaching $20.84. 468,190 shares of the company's stock traded hands, compared to its average volume of 851,668. Simmons First National Corporation has a 12 month low of $17.20 and a 12 month high of $25.95. The business's 50 day simple moving average is $19.58 and its two-hundred day simple moving average is $19.69. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 16.41 and a beta of 0.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.28.

Simmons First National (NASDAQ:SFNC - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. The business had revenue of $214.18 million during the quarter, compared to analysts' expectations 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 for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities research analysts forecast that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Zacks Research raised shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. DA Davidson upped their price objective on shares of Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.75.

Insider Activity

In other Simmons First National news, CFO Charles Daniel Hobbs bought 5,400 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $18.50 per share, with a total value of $99,900.00. Following the purchase, the chief financial officer owned 10,213 shares of the company's stock, valued at $188,940.50. This trade represents a 112.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Makris, Jr. bought 28,075 shares of Simmons First National stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $18.50 per share, for a total transaction of $519,387.50. Following the completion of the acquisition, the chief executive officer owned 29,550 shares in the company, valued at approximately $546,675. The trade was a 1,903.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 100,755 shares of company stock worth $1,865,332. 1.91% of the stock is currently owned by corporate 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.