Invesco Ltd. Has $31.18 Million Stock Position in Simmons First National Corporation $SFNC

Key Points

• Invesco Ltd. increased its stake in Simmons First National Corporation by 140.6% in Q1, now owning approximately 1.21% of the company valued at $31.18 million.
• Multiple analysts upgraded their price targets for Simmons First National, with Keefe, Bruyette & Woods raising it to $22.00 and DA Davidson to $23.00, while the stock has a consensus rating of "Hold".
• Simmons First National reported earnings of $0.44 EPS for the latest quarter, exceeding expectations, although its revenue fell slightly short of analyst estimates at $214.18 million.

Invesco Ltd. raised its stake in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 140.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,518,806 shares of the bank's stock after buying an additional 887,603 shares during the period. Invesco Ltd. owned 1.21% of Simmons First National worth $31,181,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its stake in shares of Simmons First National by 119.9% during the first quarter. Westwood Holdings Group Inc. now owns 3,483,147 shares of the bank's stock valued at $71,509,000 after acquiring an additional 1,899,407 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Simmons First National during the first quarter valued at $372,000. Cetera Investment Advisers raised its stake in shares of Simmons First National by 13.0% during the first quarter. Cetera Investment Advisers now owns 85,771 shares of the bank's stock valued at $1,761,000 after acquiring an additional 9,862 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Simmons First National during the first quarter valued at $220,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Simmons First National during the first quarter valued at $433,000. Institutional investors and hedge funds own 27.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. DA Davidson raised their price target 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. 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. 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. Finally, Keefe, Bruyette & Woods raised 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 note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Simmons First National currently has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Insider Transactions at Simmons First National

In related news, Director Russell William Teubner purchased 9,200 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $18.62 per share, with a total value of $171,304.00. Following the completion of the purchase, the director owned 53,220 shares in the company, valued at approximately $990,956.40. This trade represents a 20.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. Cosse purchased 13,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $18.50 per share, with a total value of $249,750.00. Following the completion of the purchase, the director owned 104,120 shares of the company's stock, valued at approximately $1,926,220. This represents a 14.90% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 100,755 shares of company stock valued at $1,865,332. 1.91% of the stock is owned by insiders.

Simmons First National Stock Down 1.3%

SFNC traded down $0.27 during midday trading on Monday, hitting $20.59. The company had a trading volume of 762,465 shares, compared to its average volume of 1,056,687. Simmons First National Corporation has a 52 week low of $17.20 and a 52 week high of $25.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 16.21 and a beta of 0.95. The stock's 50 day moving average price is $19.53 and its 200 day moving average price is $19.68.

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 for the quarter, beating the consensus estimate of $0.40 by $0.04. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. The firm had revenue of $214.18 million during the quarter, compared to the consensus estimate of $217.21 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Simmons First National Corporation will post 1.66 earnings per share for the current fiscal year.

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.