Simmons First National (NASDAQ:SFNC) Issues Quarterly Earnings Results

Simmons First National (NASDAQ:SFNC) announced its quarterly earnings results on Tuesday. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04, Zacks reports. Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%.

Simmons First National Stock Performance

Shares of Simmons First National stock traded up $0.04 during trading hours on Tuesday, hitting $19.28. 1,503,530 shares of the company’s stock traded hands, compared to its average volume of 1,003,019. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -6.58 and a beta of 0.89. Simmons First National has a 12-month low of $17.00 and a 12-month high of $23.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day simple moving average of $18.82 and a 200-day simple moving average of $19.23.

Simmons First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, December 15th. Simmons First National’s dividend payout ratio is -29.01%.

Insider Activity

In other news, Director Steven A. Cosse acquired 8,603 shares of Simmons First National stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $17.44 per share, with a total value of $150,036.32. Following the completion of the acquisition, the director owned 113,652 shares in the company, valued at approximately $1,982,090.88. This trade represents a 8.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David W. Garner purchased 3,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was acquired at an average cost of $17.66 per share, for a total transaction of $52,980.00. Following the transaction, the executive vice president owned 72,345 shares of the company’s stock, valued at approximately $1,277,612.70. This trade represents a 4.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simmons First National

Several hedge funds have recently bought and sold shares of SFNC. Wellington Management Group LLP bought a new stake in Simmons First National in the 3rd quarter worth approximately $129,282,000. Northern Trust Corp grew its position in shares of Simmons First National by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,508,330 shares of the bank’s stock worth $86,425,000 after buying an additional 91,596 shares during the last quarter. Invesco Ltd. increased its position in Simmons First National by 14.0% during the 2nd quarter. Invesco Ltd. now owns 1,731,794 shares of the bank’s stock valued at $32,835,000 after purchasing an additional 212,988 shares during the period. Qube Research & Technologies Ltd grew its position in Simmons First National by 41.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 922,284 shares of the bank’s stock valued at $17,487,000 after purchasing an additional 271,257 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Simmons First National by 6.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 725,923 shares of the bank’s stock valued at $13,916,000 after purchasing an additional 43,811 shares in the last quarter. 27.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SFNC. Zacks Research cut Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Keefe, Bruyette & Woods dropped their target price on shares of Simmons First National from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Morgan Stanley started coverage on Simmons First National in a research note on Tuesday, October 28th. They set a “positive” rating and a $22.00 target price for the company. Wall Street Zen lowered Simmons First National from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, National Bankshares set a $22.00 target price on shares of Simmons First National in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.33.

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.