Simmons First National (NASDAQ:SFNC) Sets New 12-Month High – Here’s What Happened

Shares of Simmons First National Corporation (NASDAQ:SFNC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.40 and last traded at $23.23, with a volume of 1144385 shares traded. The stock had previously closed at $22.92.

Simmons First National News Roundup

Here are the key news stories impacting Simmons First National this week:

• Positive Sentiment: Adjusted earnings of $0.50 per share and revenue growth of 16.1% year over year indicate the business is still expanding. Simmons First National Corporation Reports Second Quarter Results
• Positive Sentiment: The bank maintained a stable net interest margin and reported improved deposit mix, which supports profitability. Simmons First National Corporation Reports Second Quarter Results
• Neutral Sentiment: DA Davidson reaffirmed its neutral rating and set a $23 price target, only slightly above the recent share price, suggesting limited near-term upside. Benzinga
• Negative Sentiment: The modest earnings and revenue misses versus analyst estimates likely pressured the stock, as investors focused on the quarter coming in below expectations. Simmons First National (SFNC) Lags Q2 Earnings and Revenue Estimates

Analysts Set New Price Targets

Several research firms have weighed in on SFNC. Zacks Research cut Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. DA Davidson reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Simmons First National in a report on Friday. Stephens increased their target price on Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings upgraded Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Finally, National Bank Financial set a $24.00 target price on shares of Simmons First National in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.67.

Simmons First National Trading Down 1.3%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $21.97 and its 200 day moving average is $20.80. The stock has a market cap of $3.33 billion, a P/E ratio of -9.07 and a beta of 0.90.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a positive return on equity of 8.36% and a negative net margin of 24.64%.The company had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $250.98 million. During the same quarter in the prior year, the business posted $0.44 EPS. The company’s revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts predict that Simmons First National Corporation will post 2.08 earnings per share for the current fiscal year.

Simmons First National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Simmons First National’s dividend payout ratio (DPR) is presently -33.59%.

Hedge Funds Weigh In On Simmons First National

Several large investors have recently modified their holdings of SFNC. Bessemer Group Inc. lifted its position in Simmons First National by 156.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock worth $29,000 after buying an additional 925 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Simmons First National by 197.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock worth $32,000 after buying an additional 1,104 shares during the period. Hantz Financial Services Inc. increased its position in Simmons First National by 35.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock valued at $36,000 after acquiring an additional 495 shares during the last quarter. Osaic Holdings Inc. increased its position in Simmons First National by 32.0% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after acquiring an additional 644 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Simmons First National in the fourth quarter valued at $66,000. Institutional investors own 27.58% of the company’s stock.

About Simmons First National

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.