Versor Investments LP Lowers Position in Simmons First National Corporation $SFNC

Key Points

• Versor Investments LP reduced its stake in Simmons First National Corporation by 41.4%, now holding 25,900 shares valued at $532,000.
• Institutional investors, including Raymond James Financial Inc. and Public Sector Pension Investment Board, significantly increased their positions in Simmons First National during the first quarter.
• Analysts have upgraded Simmons First National from a "sell" to a "hold" rating, with the current consensus target price at $22.75.

Versor Investments LP cut its holdings in Simmons First National Corporation (NASDAQ:SFNC - Free Report) by 41.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,900 shares of the bank's stock after selling 18,300 shares during the quarter. Versor Investments LP's holdings in Simmons First National were worth $532,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. raised its stake in shares of Simmons First National by 234.7% in the first quarter. Raymond James Financial Inc. now owns 153,661 shares of the bank's stock worth $3,155,000 after purchasing an additional 107,752 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Simmons First National in the 1st quarter worth about $457,000. Russell Investments Group Ltd. lifted its stake in Simmons First National by 3.6% during the 1st quarter. Russell Investments Group Ltd. now owns 89,439 shares of the bank's stock valued at $1,836,000 after acquiring an additional 3,116 shares during the period. Mustard Seed Financial LLC boosted its holdings in shares of Simmons First National by 1.9% during the 1st quarter. Mustard Seed Financial LLC now owns 34,402 shares of the bank's stock valued at $706,000 after acquiring an additional 656 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Simmons First National by 27.4% in the first quarter. Public Sector Pension Investment Board now owns 398,497 shares of the bank's stock worth $8,181,000 after acquiring an additional 85,630 shares during the period. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Simmons First National Stock Performance

NASDAQ SFNC traded up $0.88 on Friday, hitting $20.86. 1,177,330 shares of the company traded hands, compared to its average volume of 1,092,263. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The business's 50 day moving average price is $19.49 and its 200-day moving average price is $19.72. 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.

Simmons First National (NASDAQ:SFNC - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.44 earnings per share (EPS) 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 company 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 company posted $0.33 EPS. The firm's revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Simmons First National Corporation will post 1.66 earnings per share for the current year.

Insider Transactions at Simmons First National

In other news, CFO Charles Daniel Hobbs bought 5,400 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average price of $18.50 per share, with a total value of $99,900.00. Following the acquisition, the chief financial officer owned 10,213 shares of the company's stock, valued at approximately $188,940.50. This represents a 112.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Steenberg Christopher J. Van purchased 13,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $249,750.00. Following the completion of the acquisition, the chief operating officer owned 13,500 shares of the company's stock, valued at approximately $249,750. This trade represents a ∞ 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. Company insiders own 1.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Simmons First National from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods upped their price objective on Simmons First National from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. DA Davidson increased their target price on Simmons First National from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Simmons First National from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

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.