Public Sector Pension Investment Board Buys 85,630 Shares of Simmons First National Corporation (NASDAQ:SFNC)

Key Points

• The Public Sector Pension Investment Board increased its stake in Simmons First National Corporation by 27.4%, acquiring an additional 85,630 shares, bringing its total ownership to 398,497 shares valued at approximately $8.18 million.
• Simmons First National reported better-than-expected quarterly earnings of $0.44 per share, surpassing the consensus estimate by $0.04, with an annual revenue increase of 8.6% compared to the previous year.
• Institutional investors now own approximately 27.58% of Simmons First National's stock, indicating strong interest from large financial entities.

Public Sector Pension Investment Board increased its position in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 27.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 398,497 shares of the bank's stock after buying an additional 85,630 shares during the period. Public Sector Pension Investment Board owned 0.32% of Simmons First National worth $8,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SFNC. LPL Financial LLC increased its holdings in Simmons First National by 14.1% in the fourth quarter. LPL Financial LLC now owns 32,345 shares of the bank's stock worth $717,000 after buying an additional 4,007 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Simmons First National by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 94,366 shares of the bank's stock worth $2,093,000 after buying an additional 13,174 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Simmons First National by 692.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 221,855 shares of the bank's stock worth $4,921,000 after buying an additional 193,856 shares during the last quarter. Cerity Partners LLC acquired a new position in Simmons First National in the fourth quarter worth approximately $335,000. Finally, Bank of Montreal Can increased its holdings in Simmons First National by 14.1% in the fourth quarter. Bank of Montreal Can now owns 14,867 shares of the bank's stock worth $330,000 after buying an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company's stock.

Simmons First National Price Performance

Simmons First National stock traded down $0.19 during mid-day trading on Friday, hitting $19.83. 774,579 shares of the company were exchanged, compared to its average volume of 2,238,865. 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 business has a fifty day moving average of $19.36 and a 200 day moving average of $19.82. Simmons First National Corporation has a 1-year low of $17.20 and a 1-year high of $25.95. The company has a market capitalization of $2.87 billion, a PE ratio of 15.61 and a beta of 0.95.

Simmons First National (NASDAQ:SFNC - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.23% and a net margin of 11.19%. The firm had revenue of $214.18 million during the quarter, compared to analyst estimates of $217.21 million. During the same period in the prior year, the company posted $0.33 earnings per share. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Simmons First National Corporation will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other Simmons First National news, Director Marty Casteel bought 5,400 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of $18.50 per share, for a total transaction of $99,900.00. Following the completion of the purchase, the director owned 213,901 shares in the company, valued at $3,957,168.50. This represents a 2.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Russell William Teubner purchased 9,200 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $18.62 per share, for a total transaction of $171,304.00. Following the acquisition, the director owned 53,220 shares of the company's stock, valued at $990,956.40. The trade was a 20.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 100,755 shares of company stock valued at $1,865,332 in the last 90 days. 1.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SFNC has been the subject of a number of recent analyst reports. DA Davidson upped their target price on Simmons First National from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Stephens reduced their price objective on Simmons First National from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Piper Sandler raised Simmons First National from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $20.00 to $21.00 in a research report on Monday, April 21st. Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods upped their target price 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 given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.