Wall Street brokerages forecast that Simmons First National Co. (NASDAQ:SFNC) will report $188.73 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Simmons First National’s earnings, with the highest sales estimate coming in at $193.50 million and the lowest estimate coming in at $185.00 million. Simmons First National posted sales of $176.69 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is expected to report its next earnings results before the market opens on Tuesday, October 22nd.
On average, analysts expect that Simmons First National will report full year sales of $742.27 million for the current year, with estimates ranging from $732.00 million to $759.60 million. For the next fiscal year, analysts forecast that the company will post sales of $906.67 million, with estimates ranging from $875.00 million to $932.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Simmons First National.
Simmons First National (NASDAQ:SFNC) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Simmons First National had a net margin of 24.55% and a return on equity of 9.90%. The firm had revenue of $189.36 million for the quarter, compared to the consensus estimate of $186.20 million.
Several brokerages recently weighed in on SFNC. Stephens set a $30.00 target price on shares of Simmons First National and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Sandler O’Neill raised shares of Simmons First National from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $30.00 in a research note on Thursday, August 1st. BidaskClub downgraded shares of Simmons First National from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research raised shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine raised shares of Simmons First National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.80.
In other news, CEO George Makris, Jr. acquired 10,858 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $24.37 per share, with a total value of $264,609.46. Following the transaction, the chief executive officer now owns 377,243 shares in the company, valued at approximately $9,193,411.91. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its stake in Simmons First National by 3.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 35,700 shares of the bank’s stock worth $845,000 after purchasing an additional 1,200 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Simmons First National by 3.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 65,901 shares of the bank’s stock worth $11,468,000 after acquiring an additional 2,447 shares during the last quarter. HM Capital Management LLC acquired a new stake in shares of Simmons First National in the second quarter worth approximately $3,007,000. First Trust Advisors LP boosted its position in shares of Simmons First National by 33.1% in the first quarter. First Trust Advisors LP now owns 153,741 shares of the bank’s stock worth $3,764,000 after acquiring an additional 38,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Simmons First National by 8.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 597,478 shares of the bank’s stock worth $13,898,000 after acquiring an additional 47,013 shares during the last quarter. 20.39% of the stock is currently owned by institutional investors.
SFNC traded up $0.46 during trading hours on Friday, hitting $23.85. 12,710 shares of the company’s stock were exchanged, compared to its average volume of 526,505. Simmons First National has a 12-month low of $22.08 and a 12-month high of $29.60. The firm has a 50 day moving average of $24.51 and a 200 day moving average of $24.38. The firm has a market cap of $2.26 billion, a P/E ratio of 10.13 and a beta of 1.09. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Friday, September 13th. Simmons First National’s dividend payout ratio is presently 27.00%.
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.
Further Reading: Sell-Side Analysts
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