Simmons First National (SFNC) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Simmons First National (NASDAQ:SFNC) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “SIMMONS FIRST NATIONAL CORP bank holding company registered under the Bank Holding Act of 1956. Through its subsidiaries, Co. provides a full range of banking and mortgage services to individual and corporate customers. “

A number of other brokerages also recently issued reports on SFNC. BidaskClub raised Simmons First National from a hold rating to a buy rating in a research report on Saturday, February 23rd. Robert W. Baird started coverage on Simmons First National in a research report on Wednesday, April 10th. They set a hold rating and a $27.00 price target on the stock. Stephens set a $30.00 price target on Simmons First National and gave the stock a buy rating in a research report on Tuesday, January 22nd. ValuEngine downgraded Simmons First National from a sell rating to a strong sell rating in a research report on Thursday, March 7th. Finally, DA Davidson started coverage on Simmons First National in a research report on Friday, March 15th. They set a buy rating and a $31.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $30.50.

Shares of NASDAQ:SFNC opened at $25.92 on Tuesday. The company has a market cap of $2.34 billion, a P/E ratio of 10.94 and a beta of 1.07. Simmons First National has a 1 year low of $22.64 and a 1 year high of $33.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.

Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 return on equity of 10.14% and a net margin of 26.16%. On average, analysts anticipate that Simmons First National will post 2.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Simmons First National’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.47%. Simmons First National’s dividend payout ratio is presently 27.00%.

In other Simmons First National news, CEO George Makris, Jr. bought 10,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was purchased at an average cost of $24.85 per share, for a total transaction of $248,500.00. Following the completion of the purchase, the chief executive officer now directly owns 220,766 shares of the company’s stock, valued at $5,486,035.10. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.02% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SFNC. Pearl River Capital LLC bought a new stake in Simmons First National during the fourth quarter worth $27,000. Oregon Public Employees Retirement Fund bought a new stake in Simmons First National during the fourth quarter worth $35,000. Meeder Asset Management Inc. bought a new stake in Simmons First National during the first quarter worth $89,000. PNC Financial Services Group Inc. lifted its stake in Simmons First National by 61.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the bank’s stock worth $99,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in Simmons First National during the fourth quarter worth $102,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

About Simmons First National

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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