Simmons First National (NASDAQ:SFNC) Cut to “Sell” at Wall Street Zen

Simmons First National (NASDAQ:SFNC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price objective on Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Monday, October 20th. Baird R W upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Piper Sandler raised Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Simmons First National in a report on Monday, December 29th. Finally, Morgan Stanley initiated coverage on Simmons First National in a report on Tuesday, October 28th. They set a “positive” rating and a $22.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Simmons First National Price Performance

NASDAQ SFNC opened at $19.24 on Friday. Simmons First National has a 52 week low of $17.00 and a 52 week high of $23.44. The firm has a market capitalization of $2.78 billion, a P/E ratio of -6.57 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $18.80 and a 200-day moving average price of $19.24.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Thursday, October 16th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%. The company had revenue of $232.54 million for the quarter, compared to the consensus estimate of $103.26 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Equities research analysts anticipate that Simmons First National will post 1.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Steven A. Cosse purchased 8,603 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were bought at an average price of $17.44 per share, for a total transaction of $150,036.32. Following the acquisition, the director directly owned 113,652 shares in the company, valued at $1,982,090.88. This trade represents a 8.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP David W. Garner bought 3,000 shares of Simmons First National stock in a transaction that occurred on Wednesday, October 22nd. The shares were acquired at an average price of $17.66 per share, for a total transaction of $52,980.00. Following the acquisition, the executive vice president directly owned 72,345 shares in the company, valued at approximately $1,277,612.70. This represents a 4.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of Simmons First National by 16.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 48,572 shares of the bank’s stock valued at $916,000 after acquiring an additional 6,912 shares during the period. SG Americas Securities LLC boosted its stake in Simmons First National by 668.3% during the fourth quarter. SG Americas Securities LLC now owns 114,171 shares of the bank’s stock valued at $2,152,000 after buying an additional 99,310 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Simmons First National by 24.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,221 shares of the bank’s stock worth $468,000 after acquiring an additional 4,738 shares during the period. JPMorgan Chase & Co. raised its position in Simmons First National by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 1,008,857 shares of the bank’s stock worth $19,340,000 after acquiring an additional 166,211 shares in the last quarter. Finally, Connors Investor Services Inc. lifted its holdings in Simmons First National by 23.7% in the 3rd quarter. Connors Investor Services Inc. now owns 165,133 shares of the bank’s stock valued at $3,166,000 after acquiring an additional 31,629 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

About Simmons First National

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.