Simmons First National (NASDAQ:SFNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
A number of other research firms have also recently issued reports on SFNC. BidaskClub upgraded Simmons First National from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Sandler O’Neill upgraded Simmons First National from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $31.70.
Shares of SFNC stock opened at $28.30 on Thursday. Simmons First National has a one year low of $24.88 and a one year high of $30.90. The company has a market capitalization of $2,643.01, a P/E ratio of 16.95 and a beta of 1.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73.
Simmons First National (NASDAQ:SFNC) last announced 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. Simmons First National had a return on equity of 8.28% and a net margin of 17.41%. The business had revenue of $163.55 million for the quarter, compared to analysts’ expectations of $155.80 million. sell-side analysts anticipate that Simmons First National will post 2.3 EPS for the current fiscal year.
In other Simmons First National news, EVP Steven C. Wade sold 8,610 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $29.34, for a total transaction of $252,617.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vernon Wilson Jr. Bryant sold 10,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $58.77, for a total value of $587,700.00. Following the transaction, the insider now owns 195,853 shares in the company, valued at $11,510,280.81. The disclosure for this sale can be found here. Insiders have sold a total of 78,610 shares of company stock worth $4,085,217 over the last 90 days. Company insiders own 2.76% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Simmons First National by 30.7% in the 4th quarter. BlackRock Inc. now owns 5,222,738 shares of the bank’s stock worth $298,220,000 after purchasing an additional 1,226,944 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Simmons First National by 360.6% in the 4th quarter. King Luther Capital Management Corp now owns 675,865 shares of the bank’s stock worth $38,592,000 after purchasing an additional 529,125 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Simmons First National in the 4th quarter worth $28,447,000. Teachers Advisors LLC lifted its holdings in shares of Simmons First National by 529.1% in the 4th quarter. Teachers Advisors LLC now owns 341,870 shares of the bank’s stock worth $19,521,000 after purchasing an additional 287,525 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its holdings in shares of Simmons First National by 281.7% in the 4th quarter. Kennedy Capital Management Inc. now owns 381,119 shares of the bank’s stock worth $21,762,000 after purchasing an additional 281,260 shares in the last quarter. Hedge funds and other institutional investors own 14.14% of the company’s stock.
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Simmons First National Company Profile
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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