Simmons First National’s (SFNC) Neutral Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Simmons First National (NASDAQ:SFNC) in a report published on Friday,Benzinga reports. The brokerage currently has a $23.00 price objective on the bank’s stock.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. National Bank Financial set a $24.00 target price on Simmons First National in a research report on Monday, June 29th. Stephens boosted their price target on Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Morgan Stanley reaffirmed a “positive” rating on shares of Simmons First National in a research report on Monday, June 29th. Finally, Zacks Research downgraded Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Simmons First National Stock Down 1.3%

SFNC stock opened at $22.95 on Friday. Simmons First National has a 12-month low of $17.00 and a 12-month high of $23.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -9.07 and a beta of 0.90. The company has a 50 day moving average of $21.97 and a two-hundred day moving average of $20.80.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). Simmons First National had a negative net margin of 24.64% and a positive return on equity of 8.36%. The company had revenue of $248.57 million for the quarter, compared to analysts’ expectations of $250.98 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Simmons First National will post 2.08 earnings per share for the current fiscal year.

Simmons First National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.215 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.86 annualized dividend and a yield of 3.7%. Simmons First National’s payout ratio is -33.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Simmons First National during the third quarter valued at $129,282,000. Basswood Capital Management L.L.C. boosted its position in shares of Simmons First National by 325.7% during the fourth quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank’s stock valued at $21,547,000 after buying an additional 874,513 shares during the period. Leeward Investments LLC MA purchased a new stake in shares of Simmons First National in the 1st quarter worth $15,744,000. Goldman Sachs Group Inc. boosted its stake in Simmons First National by 97.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank’s stock valued at $27,702,000 after acquiring an additional 725,489 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Simmons First National by 58.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,595,939 shares of the bank’s stock valued at $30,083,000 after acquiring an additional 587,082 shares during the period. Institutional investors own 27.58% of the company’s stock.

Simmons First National News Roundup

Here are the key news stories impacting Simmons First National this week:

• Positive Sentiment: Adjusted earnings of $0.50 per share and revenue growth of 16.1% year over year indicate the business is still expanding. Simmons First National Corporation Reports Second Quarter Results
• Positive Sentiment: The bank maintained a stable net interest margin and reported improved deposit mix, which supports profitability. Simmons First National Corporation Reports Second Quarter Results
• Neutral Sentiment: DA Davidson reaffirmed its neutral rating and set a $23 price target, only slightly above the recent share price, suggesting limited near-term upside. Benzinga
• Negative Sentiment: The modest earnings and revenue misses versus analyst estimates likely pressured the stock, as investors focused on the quarter coming in below expectations. Simmons First National (SFNC) Lags Q2 Earnings and Revenue Estimates

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.