Shares of Simmons First National Corporation (NASDAQ:SFNC – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.18 and last traded at $22.0450, with a volume of 203726 shares changing hands. The stock had previously closed at $21.60.
Analyst Ratings Changes
A number of equities research analysts have issued reports on SFNC shares. Stephens boosted their target price on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Zacks Research cut shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Morgan Stanley decreased their price target on shares of Simmons First National from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. DA Davidson reaffirmed a “neutral” rating and issued a $21.00 price target on shares of Simmons First National in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Simmons First National has an average rating of “Moderate Buy” and an average target price of $22.00.
Get Our Latest Stock Report on Simmons First National
Simmons First National Trading Up 1.1%
Simmons First National (NASDAQ:SFNC – Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $241.37 million for the quarter, compared to analysts’ expectations of $243.02 million. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities research analysts predict that Simmons First National Corporation will post 2.08 EPS for the current year.
Simmons First National Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Simmons First National’s dividend payout ratio is currently -33.59%.
Simmons First National declared that its board has approved a share buyback plan on Tuesday, February 17th that permits the company to repurchase $175.00 million in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Simmons First National by 156.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the bank’s stock valued at $29,000 after buying an additional 925 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 valued at $32,000 after buying an additional 1,104 shares during the period. Hantz Financial Services Inc. boosted 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 buying an additional 495 shares during the period. Jones Financial Companies Lllp boosted its position in Simmons First National by 42.5% during the third quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after buying an additional 649 shares during the period. Finally, Osaic Holdings Inc. boosted 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 buying an additional 644 shares during the period. 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.
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