Simmons First National Corporation (NASDAQ:SFNC – Get Free Report)’s share price hit a new 52-week high on Thursday . The stock traded as high as $23.40 and last traded at $23.23, with a volume of 1144385 shares trading hands. The stock had previously closed at $22.92.
Analysts Set New Price Targets
Several research analysts recently issued reports on SFNC shares. Morgan Stanley reissued a “positive” rating on shares of Simmons First National in a research report on Monday, June 29th. National Bank Financial set a $24.00 price objective on Simmons First National in a report on Monday, June 29th. Zacks Research lowered Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. DA Davidson reissued a “neutral” rating and issued a $21.00 target price on shares of Simmons First National in a report on Friday, April 17th. Finally, Stephens raised their target price on Simmons First National from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.
Check Out Our Latest Stock Report on Simmons First National
Simmons First National Trading Up 1.4%
Simmons First National (NASDAQ:SFNC – Get Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Simmons First National had a positive return on equity of 7.81% and a negative net margin of 25.44%.The company had revenue of $241.37 million for the quarter, compared to analysts’ expectations of $243.02 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Simmons First National Corporation will post 2.08 EPS for the current fiscal year.
Simmons First National Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.215 per share. The ex-dividend date was Monday, June 15th. This represents a $0.86 annualized dividend and a yield of 3.7%. Simmons First National’s dividend payout ratio is -33.59%.
Institutional Investors Weigh In On Simmons First National
A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Simmons First National by 6.2% in the 2nd quarter. GAMMA Investing LLC now owns 15,392 shares of the bank’s stock valued at $349,000 after acquiring an additional 892 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Simmons First National by 121.6% during the second quarter. Versant Capital Management Inc now owns 4,352 shares of the bank’s stock worth $99,000 after purchasing an additional 2,388 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Simmons First National by 137.6% during the first quarter. NewEdge Advisors LLC now owns 45,329 shares of the bank’s stock worth $882,000 after purchasing an additional 26,250 shares in the last quarter. Carlson Capital L.P. grew its stake in shares of Simmons First National by 191.2% during the first quarter. Carlson Capital L.P. now owns 78,624 shares of the bank’s stock valued at $1,529,000 after purchasing an additional 51,624 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Simmons First National by 24.7% during the first quarter. Bank of America Corp DE now owns 624,613 shares of the bank’s stock valued at $12,149,000 after purchasing an additional 123,732 shares during the last quarter. Institutional investors own 27.58% of the company’s stock.
Simmons First National Company Profile
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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