Envestnet Asset Management Inc. Lowers Position in Simmons First National Corporation (NASDAQ:SFNC)

Envestnet Asset Management Inc. trimmed its position in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 91.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,490 shares of the bank's stock after selling 202,365 shares during the period. Envestnet Asset Management Inc.'s holdings in Simmons First National were worth $400,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC raised its stake in Simmons First National by 1.6% during the first quarter. OneDigital Investment Advisors LLC now owns 62,588 shares of the bank's stock worth $1,285,000 after acquiring an additional 966 shares in the last quarter. Principal Financial Group Inc. raised its stake in Simmons First National by 2.7% during the first 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 in the last quarter. Teacher Retirement System of Texas raised its stake in Simmons First National by 99.9% during the first quarter. Teacher Retirement System of Texas now owns 19,066 shares of the bank's stock worth $391,000 after acquiring an additional 9,530 shares in the last quarter. KBC Group NV increased its stake in shares of Simmons First National by 18.7% in the first quarter. KBC Group NV now owns 7,231 shares of the bank's stock valued at $148,000 after buying an additional 1,140 shares during the period. Finally, Jag Capital Management LLC increased its stake in shares of Simmons First National by 0.9% in the first quarter. Jag Capital Management LLC now owns 121,547 shares of the bank's stock valued at $2,495,000 after buying an additional 1,126 shares during the period. Institutional investors and hedge funds own 27.58% of the company's stock.

Wall Street Analysts Forecast Growth

SFNC has been the subject of several recent research reports. Stephens lowered their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. DA Davidson upped their price objective on Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler raised Simmons First National from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $20.00 to $21.00 in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods upped their price objective on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.75.

Insider Buying and Selling

In related news, COO Steenberg Christopher J. Van purchased 13,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was acquired at an average cost of $18.50 per share, with a total value of $249,750.00. Following the transaction, the chief operating officer owned 13,500 shares of the company's stock, valued at $249,750. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Makris, Jr. purchased 28,075 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average cost of $18.50 per share, with a total value of $519,387.50. Following the completion of the transaction, the chief executive officer directly owned 29,550 shares in the company, valued at $546,675. The trade was a 1,903.39% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 89,555 shares of company stock worth $1,656,768 over the last quarter. Corporate insiders own 1.44% of the company's stock.

Simmons First National Trading Up 1.3%

NASDAQ:SFNC traded up $0.24 on Friday, reaching $18.95. 752,941 shares of the stock traded hands, compared to its average volume of 2,205,334. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.92 and a beta of 0.95. The company's 50 day moving average is $19.26 and its 200-day moving average is $19.92. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Simmons First National Corporation has a 1-year low of $17.20 and a 1-year high of $25.95.

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

About Simmons First National

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.