Simmons First National (NASDAQ:SFNC) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

by · The Markets Daily

Simmons First National (NASDAQ:SFNC – Get Free Report) released its quarterly earnings data on Tuesday. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04, Zacks reports. Simmons First National had a positive return on equity of 5.84% and a negative net margin of 29.70%.

Simmons First National Stock Up 0.2%

SFNC stock traded up $0.04 during midday trading on Tuesday, hitting $19.28. The company’s stock had a trading volume of 1,503,530 shares, compared to its average volume of 1,003,019. The company’s fifty day moving average price is $18.82 and its 200 day moving average price is $19.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.88 and a quick ratio of 0.88. Simmons First National has a twelve month low of $17.00 and a twelve month high of $23.44. The stock has a market capitalization of $2.79 billion, a P/E ratio of -6.58 and a beta of 0.89.

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, December 15th. Simmons First National’s payout ratio is presently -29.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SFNC. Keefe, Bruyette & Woods dropped their target price on shares of Simmons First National from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Wall Street Zen lowered shares of Simmons First National from a “hold” rating to a “sell” rating in a report on Sunday. National Bankshares set a $22.00 price objective on Simmons First National in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Simmons First National in a research note on Monday, December 29th. Finally, Morgan Stanley started coverage on shares of Simmons First National in a research note on Tuesday, October 28th. They set a “positive” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Read Our Latest Stock Report on SFNC

Insider Activity

In related news, Director Steven A. Cosse purchased 8,603 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $17.44 per share, for a total transaction of $150,036.32. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David W. Garner acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were bought at an average price of $17.66 per share, for a total transaction of $52,980.00. Following the purchase, the executive vice president owned 72,345 shares in the company, valued at approximately $1,277,612.70. This represents a 4.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.91% of the stock is owned by company insiders.

Institutional Trading of Simmons First National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Simmons First National by 197.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,104 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after purchasing an additional 644 shares during the period. NewEdge Advisors LLC lifted its stake in Simmons First National by 3,624.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock valued at $268,000 after purchasing an additional 12,686 shares during the last quarter. Algert Global LLC grew its holdings in Simmons First National by 17.9% during the third quarter. Algert Global LLC now owns 13,426 shares of the bank’s stock worth $257,000 after purchasing an additional 2,040 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in Simmons First National during the second quarter worth approximately $274,000. 27.58% of the stock is owned by institutional investors.

About Simmons First National

(Get Free Report)

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.

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