Simmons First National Corp. (SFNC) Upgraded 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 research 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. “
Several other analysts have also commented on SFNC. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $53.00 price objective (down from $54.00) on shares of Simmons First National Corp. in a report on Wednesday, June 8th. Stephens lowered Simmons First National Corp. from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $52.00 to $50.00 in a report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.80.
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Simmons First National Corp. (NASDAQ:SFNC) opened at 49.00 on Wednesday. The company has a market cap of $1.49 billion, a P/E ratio of 16.21 and a beta of 1.02. Simmons First National Corp. has a 52-week low of $38.30 and a 52-week high of $58.75. The stock’s 50 day moving average price is $48.38 and its 200 day moving average price is $46.52.
Simmons First National Corp. (NASDAQ:SFNC) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 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%. Analysts expect that Simmons First National Corp. will post $3.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be given a $0.24 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.96%. Simmons First National Corp.’s dividend payout ratio (DPR) is presently 31.79%.
Institutional investors have recently added to or reduced their stakes in the stock. Simmons Bank purchased a new position in Simmons First National Corp. during the first quarter valued at $85,115,000. BlackRock Fund Advisors increased its position in shares of Simmons First National Corp. by 2.2% in the second quarter. BlackRock Fund Advisors now owns 1,819,513 shares of the company’s stock worth $84,034,000 after buying an additional 39,684 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Simmons First National Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,751,063 shares of the company’s stock worth $80,874,000 after buying an additional 84,707 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Simmons First National Corp. by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,118,362 shares of the company’s stock worth $51,650,000 after buying an additional 61,071 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of 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 worth $33,379,000 after buying an additional 15,330 shares during the last quarter. Institutional investors and hedge funds own 23.72% of the company’s stock.
About Simmons First National Corp.
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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