Simmons First National (NASDAQ:SFNC) Hits New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Simmons First National Corporation (NASDAQ:SFNCGet Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as $22.62 and last traded at $22.3650, with a volume of 1008122 shares changing hands. The stock had previously closed at $22.30.

Wall Street Analyst Weigh In

SFNC has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Simmons First National from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. DA Davidson reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of Simmons First National in a research note on Friday, April 17th. Zacks Research cut Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Stephens increased their target price on shares of Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Get Our Latest Stock Analysis on Simmons First National

Simmons First National Stock Down 1.2%

The firm has a 50-day simple moving average of $21.10 and a 200 day simple moving average of $20.19. The company has a market capitalization of $3.23 billion, a PE ratio of -8.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.

Simmons First National (NASDAQ:SFNCGet Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.The company had revenue of $241.37 million during the quarter, compared to the consensus estimate of $243.02 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. On average, research analysts predict that Simmons First National Corporation will post 2.08 EPS for the current fiscal year.

Simmons First National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, June 15th. Simmons First National’s dividend payout ratio is currently -33.59%.

Simmons First National announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 17th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the bank to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Simmons First National

A number of hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Simmons First National by 156.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock worth $29,000 after purchasing an additional 925 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Simmons First National by 197.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,104 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Simmons First National by 35.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after purchasing an additional 495 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Simmons First National by 42.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock worth $43,000 after buying an additional 649 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after buying an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 27.58% of the company’s stock.

Simmons First National Company Profile

(Get Free Report)

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.

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