Simmons First National Corp. (SFNC) Rating Increased to Hold at Zacks Investment Research
Simmons First National Corp. (NASDAQ:SFNC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $53.00 price target (down from $54.00) on shares of Simmons First National Corp. in a research note on Wednesday, June 8th. Stephens lowered Simmons First National Corp. from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $52.00 to $50.00 in a research note on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Simmons First National Corp. presently has a consensus rating of “Hold” and a consensus price target of $51.80.
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Shares of Simmons First National Corp. (NASDAQ:SFNC) opened at 49.00 on Wednesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 16.21 and a beta of 1.02. Simmons First National Corp. has a 12-month low of $38.30 and a 12-month high of $58.75. The firm has a 50-day moving average price of $48.38 and a 200 day moving average price of $46.52.
Simmons First National Corp. (NASDAQ:SFNC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Simmons First National Corp. had a return on equity of 9.48% and a net margin of 21.34%. On average, equities research analysts predict that Simmons First National Corp. will post $3.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.96%. Simmons First National Corp.’s payout ratio is currently 31.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its position in Simmons First National Corp. by 22.1% in the first quarter. Prudential Financial Inc. now owns 106,862 shares of the company’s stock valued at $4,816,000 after buying an additional 19,330 shares during the last quarter. BlackRock Group LTD increased its position in Simmons First National Corp. by 4.7% in the first quarter. BlackRock Group LTD now owns 53,249 shares of the company’s stock valued at $2,399,000 after buying an additional 2,383 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Simmons First National Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 740,596 shares of the company’s stock valued at $33,379,000 after buying an additional 15,330 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Simmons First National Corp. by 67.5% in the first quarter. Goldman Sachs Group Inc. now owns 107,804 shares of the company’s stock valued at $4,859,000 after buying an additional 43,447 shares during the last quarter. Finally, Simmons Bank purchased a new position in Simmons First National Corp. during the first quarter valued at approximately $85,115,000. Institutional investors own 23.72% of the company’s stock.
Simmons First National Corp. Company Profile
Simmons First National Corporation is a financial holding company. The Company’s subsidiary bank is Simmons First National Bank (Simmons Bank), a national bank. Simmons Bank and its subsidiaries provide banking services to individuals and businesses across the market areas they serve. Simmons Bank offers consumer, real estate and commercial loans, checking, savings and time deposits.
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