Raymond James Reiterates Market Perform Rating for Simmons First National (NASDAQ:SFNC)


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Simmons First National (NASDAQ:SFNC)‘s stock had its “market perform” rating reissued by investment analysts at Raymond James in a research report issued to clients and investors on Tuesday, Benzinga reports.

Separately, Zacks Investment Research lowered shares of Simmons First National from a “buy” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $25.00.

Shares of NASDAQ:SFNC traded down $0.68 during trading on Tuesday, reaching $29.06. 11,614 shares of the company’s stock traded hands, compared to its average volume of 610,971. Simmons First National has a fifty-two week low of $13.75 and a fifty-two week high of $33.43. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. The firm has a market cap of $3.15 billion, a PE ratio of 12.51 and a beta of 1.01. The company has a 50-day simple moving average of $30.51 and a 200-day simple moving average of $23.58.

Simmons First National (NASDAQ:SFNC) last posted its earnings results on Monday, January 25th. The bank reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. Simmons First National had a return on equity of 9.37% and a net margin of 24.39%. The firm had revenue of $199.02 million for the quarter, compared to analysts’ expectations of $198.50 million. During the same period last year, the firm earned $0.66 EPS. On average, equities research analysts forecast that Simmons First National will post 2.3 EPS for the current year.

In other news, Director Marty Casteel sold 76,170 shares of Simmons First National stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $25.32, for a total transaction of $1,928,624.40. Following the sale, the director now owns 172,612 shares of the company’s stock, valued at approximately $4,370,535.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new position in shares of Simmons First National during the fourth quarter worth $44,000. Nisa Investment Advisors LLC lifted its position in Simmons First National by 66.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,130 shares of the bank’s stock valued at $46,000 after acquiring an additional 850 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Simmons First National in the first quarter valued at $59,000. Veriti Management LLC purchased a new stake in Simmons First National in the fourth quarter valued at $90,000. Finally, SG Americas Securities LLC purchased a new stake in Simmons First National in the fourth quarter valued at $131,000. Hedge funds and other institutional investors own 24.18% of the company’s stock.

About Simmons First National

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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