Simmons First National (SFNC) Downgraded to “Hold” at BidaskClub

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BidaskClub cut shares of Simmons First National (NASDAQ:SFNC) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other brokerages also recently issued reports on SFNC. Zacks Investment Research downgraded shares of Simmons First National from a buy rating to a hold rating in a research note on Tuesday, January 22nd. Stephens set a $30.00 price objective on shares of Simmons First National and gave the company a buy rating in a research note on Tuesday, January 22nd. Finally, ValuEngine raised shares of Simmons First National from a strong sell rating to a sell rating in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $31.60.

Shares of SFNC opened at $25.42 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.55 billion, a P/E ratio of 10.73 and a beta of 1.06. Simmons First National has a 1 year low of $22.64 and a 1 year high of $33.45.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings data on Tuesday, January 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $172.37 million for the quarter, compared to the consensus estimate of $177.84 million. Simmons First National had a net margin of 26.16% and a return on equity of 10.14%. On average, equities analysts predict that Simmons First National will post 2.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.52%. This is an increase from Simmons First National’s previous quarterly dividend of $0.15. Simmons First National’s dividend payout ratio (DPR) is currently 25.32%.

In related news, CEO George Makris, Jr. purchased 10,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were bought at an average price of $24.85 per share, with a total value of $248,500.00. Following the completion of the purchase, the chief executive officer now directly owns 220,766 shares in the company, valued at approximately $5,486,035.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.76% of the company’s stock.

A number of large investors have recently bought and sold shares of SFNC. Bank of New York Mellon Corp increased its position in shares of Simmons First National by 13.3% in the third quarter. Bank of New York Mellon Corp now owns 1,197,113 shares of the bank’s stock worth $35,254,000 after acquiring an additional 140,846 shares in the last quarter. Comerica Bank increased its position in shares of Simmons First National by 5.3% in the third quarter. Comerica Bank now owns 97,887 shares of the bank’s stock worth $2,560,000 after acquiring an additional 4,937 shares in the last quarter. Horrell Capital Management Inc. increased its position in shares of Simmons First National by 0.9% in the fourth quarter. Horrell Capital Management Inc. now owns 62,058 shares of the bank’s stock worth $1,497,000 after acquiring an additional 566 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Simmons First National by 31.5% in the third quarter. Victory Capital Management Inc. now owns 19,139 shares of the bank’s stock worth $564,000 after acquiring an additional 4,587 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Simmons First National by 0.6% in the third quarter. Teachers Advisors LLC now owns 793,761 shares of the bank’s stock worth $23,376,000 after acquiring an additional 4,532 shares in the last quarter. 52.62% of the stock is currently owned by institutional investors.

Simmons First National Company Profile

Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.

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