MetLife Investment Management LLC Acquires 893,298 Shares of Simmons First National Corporation $SFNC

Key Points

• MetLife Investment Management LLC significantly increased its stake in Simmons First National Corporation by 1,179.6%, acquiring 893,298 additional shares, bringing its total holdings to approximately 0.77% of SFNC valued at nearly $19.9 million.
• Simmons First National reported earnings per share of $0.44, which exceeded analysts' expectations of $0.40, while also experiencing an 8.6% year-over-year revenue growth for the quarter.
• Recent analyst ratings for Simmons First National show an overall positive sentiment, with price targets raised by firms such as Keefe, Bruyette & Woods and DA Davidson, indicating a moderate buy outlook and an average price target of $22.75.

MetLife Investment Management LLC lifted its holdings in shares of Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 1,179.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 969,027 shares of the bank's stock after acquiring an additional 893,298 shares during the period. MetLife Investment Management LLC owned approximately 0.77% of Simmons First National worth $19,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westwood Holdings Group Inc. increased its position 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 worth $71,509,000 after acquiring an additional 1,899,407 shares in the last quarter. Invesco Ltd. increased its position in shares of Simmons First National by 140.6% during the first quarter. Invesco Ltd. now owns 1,518,806 shares of the bank's stock worth $31,181,000 after acquiring an additional 887,603 shares in the last quarter. FJ Capital Management LLC increased its position in shares of Simmons First National by 35.1% during the fourth quarter. FJ Capital Management LLC now owns 1,104,008 shares of the bank's stock worth $24,487,000 after acquiring an additional 286,622 shares in the last quarter. Rhino Investment Partners Inc bought a new stake in shares of Simmons First National during the fourth quarter worth about $19,531,000. Finally, Principal Financial Group Inc. increased its position in shares of 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. 27.58% of the stock is owned by institutional investors.

Simmons First National Trading Up 4.4%

Shares of SFNC stock opened at $20.86 on Monday. 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 has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.43 and a beta of 0.95. Simmons First National Corporation has a 52-week low of $17.20 and a 52-week high of $25.95. The company has a 50-day simple moving average of $19.49 and a two-hundred day simple moving average of $19.70.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its 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. The firm had revenue of $214.18 million for 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 company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. Research analysts anticipate that Simmons First National Corporation will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SFNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective 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. DA Davidson upped their price objective 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. Zacks Research raised shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.75.

Insider Transactions at Simmons First National

In related news, Director Steven A. Cosse bought 13,500 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $18.50 per share, for a total transaction of $249,750.00. Following the completion of the purchase, the director directly owned 104,120 shares in the company, valued at $1,926,220. The trade was a 14.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Charles Daniel Hobbs bought 5,400 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average price 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 approximately $188,940.50. The trade was a 112.20% 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 valued at $1,865,332. Corporate insiders own 1.91% of the company's stock.

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.

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