Simmons First National (SFNC) Stock Rating Lowered by Zacks Investment Research

Simmons First National (NASDAQ:SFNC) was downgraded by Zacks Investment Research from a “buy” 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. “

Several other equities research analysts have also recently commented on the company. BidaskClub raised Simmons First National from a “sell” rating to a “hold” rating in a research note on Saturday. Sandler O’Neill raised Simmons First National from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, January 24th. Finally, Piper Jaffray Companies set a $30.00 target price on Simmons First National and gave the company a “hold” rating in a research note on Thursday, November 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.90.

Simmons First National (NASDAQ SFNC) traded down $0.60 during midday trading on Wednesday, hitting $28.40. The stock had a trading volume of 386,600 shares, compared to its average volume of 449,284. The firm has a market cap of $2,670.38, a PE ratio of 20.73 and a beta of 1.16. Simmons First National has a one year low of $24.88 and a one year high of $30.55. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 1.01.

Simmons First National (NASDAQ:SFNC) last released its earnings results on Monday, January 22nd. The bank reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $163.55 million during the quarter, compared to analysts’ expectations of $155.80 million. Simmons First National had a return on equity of 8.28% and a net margin of 17.41%. equities research analysts forecast that Simmons First National will post 2.3 earnings per share for the current year.

In other news, insider Vernon Wilson Jr. Bryant sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $58.16, for a total value of $581,600.00. Following the transaction, the insider now directly owns 165,853 shares in the company, valued at approximately $9,646,010.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher R. Kirkland sold 160,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $57.11, for a total value of $9,137,600.00. Following the completion of the transaction, the director now owns 76,949 shares in the company, valued at $4,394,557.39. The disclosure for this sale can be found here. Insiders sold a total of 402,888 shares of company stock worth $23,019,365 over the last 90 days. 4.63% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Simmons First National by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,349 shares of the bank’s stock worth $1,235,000 after purchasing an additional 588 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Simmons First National by 5.1% in the 2nd quarter. California Public Employees Retirement System now owns 16,400 shares of the bank’s stock worth $868,000 after purchasing an additional 800 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Simmons First National by 28.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,094 shares of the bank’s stock worth $237,000 after purchasing an additional 912 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Simmons First National by 7.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,473 shares of the bank’s stock worth $819,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Simmons First National by 1.5% in the 4th quarter. Strs Ohio now owns 76,100 shares of the bank’s stock worth $4,345,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 51.33% of the company’s stock.

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About Simmons First National

Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri, Tennessee, Colorado, Oklahoma and Texas.

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