Simmons First National (NASDAQ:SFNC) Shares Gap Down on Disappointing Earnings

Simmons First National Co. (NASDAQ:SFNC)’s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $18.11, but opened at $17.26. Simmons First National shares last traded at $17.31, with a volume of 117,222 shares changing hands.

The bank reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). Simmons First National had a net margin of 10.46% and a return on equity of 5.10%. The firm had revenue of $209.58 million during the quarter, compared to analysts’ expectations of $209.00 million. During the same quarter last year, the firm earned $0.32 EPS.

Simmons First National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.2125 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Simmons First National’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 4.83%. Simmons First National’s payout ratio is 70.25%.

Wall Street Analyst Weigh In

Separately, Stephens lowered their target price on shares of Simmons First National from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

Hedge Funds Weigh In On Simmons First National

Several large investors have recently made changes to their positions in SFNC. FMR LLC lifted its holdings in shares of Simmons First National by 5.5% during the third quarter. FMR LLC now owns 7,778 shares of the bank’s stock worth $168,000 after buying an additional 403 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Simmons First National by 10.4% in the 3rd quarter. HighTower Advisors LLC now owns 18,788 shares of the bank’s stock valued at $405,000 after purchasing an additional 1,775 shares during the period. Jane Street Group LLC grew its position in Simmons First National by 43.4% in the 3rd quarter. Jane Street Group LLC now owns 158,099 shares of the bank’s stock worth $3,405,000 after purchasing an additional 47,820 shares during the last quarter. Barclays PLC increased its holdings in shares of Simmons First National by 131.4% during the 3rd quarter. Barclays PLC now owns 247,821 shares of the bank’s stock worth $5,337,000 after purchasing an additional 140,738 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Simmons First National by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,992,851 shares of the bank’s stock valued at $64,478,000 after buying an additional 37,519 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Stock Down 2.8 %

The stock has a market capitalization of $2.22 billion, a P/E ratio of 14.39 and a beta of 0.82. The firm has a 50 day moving average of $20.50 and a 200-day moving average of $22.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.79 and a quick ratio of 0.79.

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.