Zacks Investment Research cut shares of Simmons First National (NASDAQ:SFNC) from a buy rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “
A number of other equities research analysts have also recently weighed in on the company. BidaskClub cut Simmons First National from a buy rating to a hold rating in a report on Thursday, March 29th. Sandler O’Neill raised Simmons First National from a hold rating to a buy rating and set a $34.00 price target on the stock in a report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $31.70.
SFNC stock traded down $0.25 during midday trading on Thursday, reaching $28.40. The company had a trading volume of 30,052 shares, compared to its average volume of 420,453. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. Simmons First National has a fifty-two week low of $24.88 and a fifty-two week high of $30.90. The company has a market cap of $2,601.49, a P/E ratio of 16.75 and a beta of 1.15.
Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $163.55 million for the quarter, compared to analysts’ expectations of $155.80 million. Simmons First National had a return on equity of 8.28% and a net margin of 17.41%. analysts expect that Simmons First National will post 2.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.11%. Simmons First National’s dividend payout ratio (DPR) is presently 35.09%.
In related news, insider Vernon Wilson Jr. Bryant sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $58.77, for a total transaction of $587,700.00. Following the sale, the insider now owns 195,853 shares of the company’s stock, valued at $11,510,280.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven C. Wade sold 8,610 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $29.34, for a total value of $252,617.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,610 shares of company stock worth $4,085,217. Corporate insiders own 2.76% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Strs Ohio raised its holdings in Simmons First National by 1.5% during the fourth quarter. Strs Ohio now owns 76,100 shares of the bank’s stock worth $4,345,000 after purchasing an additional 1,100 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Simmons First National by 22.6% during the fourth quarter. State of Alaska Department of Revenue now owns 7,807 shares of the bank’s stock worth $445,000 after purchasing an additional 1,440 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Simmons First National by 22.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,807 shares of the bank’s stock valued at $446,000 after buying an additional 1,457 shares in the last quarter. American International Group Inc. increased its holdings in shares of Simmons First National by 7.1% in the third quarter. American International Group Inc. now owns 24,191 shares of the bank’s stock valued at $1,401,000 after buying an additional 1,595 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Simmons First National by 4.9% in the fourth quarter. Stephens Inc. AR now owns 37,804 shares of the bank’s stock valued at $2,159,000 after buying an additional 1,776 shares in the last quarter. 14.14% of the stock is currently owned by hedge funds and other institutional investors.
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About Simmons First National
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.
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