StockNews.com upgraded shares of Simmons First National (NASDAQ:SFNC – Get Rating) from a sell rating to a hold rating in a report released on Friday morning.
Several other research firms have also recently weighed in on SFNC. Piper Sandler decreased their price objective on shares of Simmons First National to $24.50 in a research report on Monday, July 4th. Stephens lifted their target price on shares of Simmons First National to $25.00 in a report on Monday, July 25th.
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Simmons First National Stock Performance
SFNC opened at $23.48 on Friday. The business's fifty day moving average is $23.09 and its 200-day moving average is $24.58. The firm has a market cap of $3.01 billion, a P/E ratio of 12.04 and a beta of 0.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.71 and a current ratio of 0.71. Simmons First National has a 52-week low of $19.87 and a 52-week high of $32.76.
Simmons First National (NASDAQ:SFNC – Get Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. The business had revenue of $225.28 million for the quarter, compared to analyst estimates of $228.57 million. Simmons First National had a net
margin of 25.19% and a return on equity of 8.73%. During the same quarter in the previous year, the business earned $0.69 earnings per share. Sell-side analysts expect that Simmons First National will post 2.33 EPS for the current fiscal year.
Simmons First National Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, September 14th. Simmons First National's dividend payout ratio (DPR) is presently 38.97%.
Insider Buying and Selling at Simmons First National
In other Simmons First National news, Director Dean O. Bass sold 8,810 shares of the business's stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $22.86, for a total transaction of $201,396.60. Following the sale, the director now owns 244,535 shares in the company, valued at approximately $5,590,070.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Simmons First National news, Director Dean O. Bass sold 8,810 shares of the company's stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $22.86, for a total transaction of $201,396.60. Following the completion of the transaction, the director now directly owns 244,535 shares in the company, valued at $5,590,070.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dean O. Bass sold 7,334 shares of the company's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.88, for a total transaction of $175,135.92. Following the sale, the director now directly owns 230,680 shares of the company's stock, valued at approximately $5,508,638.40. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in SFNC. Verition Fund Management LLC acquired a new position in shares of Simmons First National during the 2nd quarter worth $423,000. Captrust Financial Advisors boosted its position in shares of Simmons First National by 7.5% in the second quarter. Captrust Financial Advisors now owns 81,733 shares of the bank's stock worth $1,753,000 after buying an additional 5,729 shares during the period. Legal & General Group Plc grew its stake in shares of Simmons First National by 11.5% during the second quarter. Legal & General Group Plc now owns 361,437 shares of the bank's stock valued at $7,684,000 after acquiring an additional 37,150 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Simmons First National in the second quarter worth $214,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Simmons First National by 32.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 790,286 shares of the bank's stock valued at $16,801,000 after buying an additional 193,958 shares during the period. Hedge funds and other institutional investors own 13.38% of the company's stock.
About Simmons First National
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Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. It offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; insurance products; and securities and investment services.
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