MetLife Investment Management LLC Grows Holdings in 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 boosted its stake in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 1,179.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 969,027 shares of the bank's stock after purchasing an additional 893,298 shares during the quarter. MetLife Investment Management LLC owned about 0.77% of Simmons First National worth $19,894,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SFNC. Westwood Holdings Group Inc. raised its position in shares of Simmons First National by 119.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,483,147 shares of the bank's stock valued at $71,509,000 after buying an additional 1,899,407 shares in the last quarter. Invesco Ltd. boosted its stake 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 valued at $31,181,000 after purchasing an additional 887,603 shares in the last quarter. Rhino Investment Partners Inc bought a new position in shares of Simmons First National during the fourth quarter valued at approximately $19,531,000. Nuveen LLC purchased a new stake in Simmons First National during the first quarter valued at approximately $6,065,000. Finally, FJ Capital Management LLC lifted its position in 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 valued at $24,487,000 after acquiring an additional 286,622 shares during the last quarter. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simmons First National

In other news, Director Steven A. Cosse acquired 13,500 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average price 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 of the company's stock, valued at approximately $1,926,220. This represents 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 the SEC website. Also, Director Marty Casteel acquired 5,400 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average cost of $18.50 per share, with a total value of $99,900.00. Following the acquisition, the director directly owned 213,901 shares of the company's stock, valued at $3,957,168.50. This represents a 2.59% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 100,755 shares of company stock valued at $1,865,332 in the last quarter. 1.44% of the stock is currently owned by insiders.

Simmons First National Stock Performance

Shares of Simmons First National stock traded down $0.11 during trading on Friday, hitting $20.78. 796,375 shares of the company's stock were exchanged, compared to its average volume of 969,577. 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 business has a 50-day simple moving average of $19.74 and a 200-day simple moving average of $19.65. Simmons First National Corporation has a 52-week low of $17.20 and a 52-week high of $25.95. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95.

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. 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 analysts' expectations of $217.21 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Simmons First National Corporation will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SFNC shares. 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 report on Wednesday, July 23rd. Zacks Research raised shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Wall Street Zen raised shares of Simmons First National from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Simmons First National from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

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.