Simmons First National (NASDAQ:SFNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, April 12th.
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 equities research analysts have also issued reports on SFNC. BidaskClub lowered Simmons First National from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. Sandler O’Neill upgraded Simmons First National from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $31.70.
Shares of SFNC stock opened at $28.80 on Thursday. Simmons First National has a 52-week low of $24.88 and a 52-week high of $30.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2,652.23, a price-to-earnings ratio of 17.01 and a beta of 1.15.
Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $155.80 million. analysts expect that Simmons First National will post 2.3 EPS for the current year.
In other news, insider Vernon Wilson Jr. Bryant sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $59.19, for a total transaction of $1,479,750.00. Following the completion of the transaction, the insider now owns 185,853 shares in the company, valued at $11,000,639.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George Makris, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average price of $58.10 per share, with a total value of $145,250.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 78,610 shares of company stock valued at $4,085,217. Company insiders own 2.76% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFNC. Bank of New York Mellon Corp grew its position in Simmons First National by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 407,214 shares of the bank’s stock worth $23,579,000 after acquiring an additional 5,576 shares in the last quarter. SG Americas Securities LLC purchased a new position in Simmons First National in the third quarter worth about $278,000. Ameriprise Financial Inc. grew its position in Simmons First National by 6.3% in the third quarter. Ameriprise Financial Inc. now owns 172,355 shares of the bank’s stock worth $9,980,000 after acquiring an additional 10,250 shares in the last quarter. American International Group Inc. grew its position in Simmons First National by 7.1% in the third quarter. American International Group Inc. now owns 24,191 shares of the bank’s stock worth $1,401,000 after acquiring an additional 1,595 shares in the last quarter. Finally, TD Asset Management Inc. grew its position in Simmons First National by 15.9% in the third quarter. TD Asset Management Inc. now owns 16,800 shares of the bank’s stock worth $973,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors own 25.88% of the company’s stock.
Simmons First National Company Profile
Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.
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