Edgestream Partners L.P. Makes New $967,000 Investment in Simmons First National Co. (NASDAQ:SFNC)

Edgestream Partners L.P. purchased a new stake in Simmons First National Co. (NASDAQ:SFNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 55,032 shares of the bank’s stock, valued at approximately $967,000.

A number of other institutional investors and hedge funds have also modified their holdings of SFNC. 1900 Wealth Management LLC increased its position in Simmons First National by 1.1% in the 2nd quarter. 1900 Wealth Management LLC now owns 48,948 shares of the bank’s stock worth $860,000 after buying an additional 533 shares during the period. Arizona State Retirement System raised its stake in Simmons First National by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 35,085 shares of the bank’s stock valued at $617,000 after purchasing an additional 686 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Simmons First National by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 63,100 shares of the bank’s stock valued at $1,109,000 after purchasing an additional 1,100 shares during the period. Versant Capital Management Inc boosted its holdings in Simmons First National by 161.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,843 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,137 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of Simmons First National by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 73,077 shares of the bank’s stock worth $1,285,000 after purchasing an additional 1,186 shares during the period. 27.58% of the stock is currently owned by institutional investors and hedge funds.

Simmons First National Trading Down 2.1 %

Shares of SFNC opened at $21.60 on Friday. The stock has a 50 day simple moving average of $20.65 and a 200-day simple moving average of $18.86. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.71 billion, a PE ratio of 16.24 and a beta of 0.87. Simmons First National Co. has a 1 year low of $13.36 and a 1 year high of $22.45.

Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Simmons First National had a return on equity of 5.33% and a net margin of 10.49%. The company had revenue of $372.44 million during the quarter, compared to analysts’ expectations of $197.30 million. During the same period last year, the business earned $0.48 earnings per share. On average, sell-side analysts predict that Simmons First National Co. will post 1.32 EPS for the current fiscal year.

Simmons First National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 3.89%. Simmons First National’s dividend payout ratio is 63.16%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SFNC. StockNews.com downgraded Simmons First National from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Stephens boosted their price objective on Simmons First National from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Piper Sandler upped their target price on Simmons First National from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Simmons First National from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.75.

Insiders Place Their Bets

In other news, CAO David W. Garner sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $21.21, for a total value of $76,356.00. Following the transaction, the chief accounting officer now directly owns 64,966 shares of the company’s stock, valued at approximately $1,377,928.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO David W. Garner sold 3,600 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $21.21, for a total transaction of $76,356.00. Following the completion of the sale, the chief accounting officer now directly owns 64,966 shares of the company’s stock, valued at approximately $1,377,928.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Fehlman sold 8,680 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $21.93, for a total value of $190,352.40. Following the completion of the transaction, the chief executive officer now directly owns 156,357 shares in the company, valued at approximately $3,428,909.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,700 shares of company stock valued at $728,952. 1.91% of the stock is currently owned by insiders.

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.