Envestnet Asset Management Inc. Has $400,000 Stock Position in Simmons First National Corporation (NASDAQ:SFNC)

Envestnet Asset Management Inc. reduced its position in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 91.2% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 reporting period.

Several other institutional investors also recently bought and sold shares of SFNC. Point72 Asia Singapore Pte. Ltd. purchased a new position in Simmons First National in the 4th quarter worth approximately $36,000. Quarry LP acquired a new position in shares of Simmons First National during the fourth quarter worth $47,000. Sterling Capital Management LLC lifted its position in shares of Simmons First National by 813.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,911 shares of the bank's stock worth $87,000 after purchasing an additional 3,483 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Simmons First National in the fourth quarter valued at $114,000. Finally, KBC Group NV grew its holdings in Simmons First National by 18.7% during the 1st quarter. KBC Group NV now owns 7,231 shares of the bank's stock valued at $148,000 after purchasing an additional 1,140 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors and hedge funds.

Simmons First National Price Performance

Shares of NASDAQ:SFNC traded down $0.16 during trading hours on Thursday, hitting $18.71. 954,145 shares of the company's stock traded hands, compared to its average volume of 2,179,489. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 0.80. The company's fifty day simple moving average is $19.25 and its two-hundred day simple moving average is $19.96. Simmons First National Corporation has a 52 week low of $17.20 and a 52 week high of $25.95. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 14.73 and a beta of 0.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share for the quarter, beating 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 business had revenue of $214.18 million during the quarter, compared to analyst estimates of $217.21 million. During the same quarter last year, the company posted $0.33 EPS. Simmons First National's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Simmons First National

In other news, CFO Charles Daniel Hobbs acquired 5,400 shares of Simmons First National stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average cost of $18.50 per share, for a total transaction of $99,900.00. Following the completion of the purchase, the chief financial officer owned 10,213 shares of the company's stock, valued at $188,940.50. This represents a 112.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Cosse acquired 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $18.50 per share, with a total value of $249,750.00. Following the completion of the acquisition, the director owned 104,120 shares in the company, valued at $1,926,220. This trade represents a 14.90% increase in their position. The disclosure for this purchase can be found here. Insiders bought 89,555 shares of company stock valued at $1,656,768 in the last quarter. Corporate insiders own 1.44% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on SFNC. Stephens dropped their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. DA Davidson raised 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 report on Wednesday, July 23rd. Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler raised shares of Simmons First National from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $20.00 to $21.00 in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Simmons First National presently has an average rating of "Hold" and an average target price of $22.75.

Simmons First National 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.