Simmons First National (NASDAQ:SFNC) Downgraded by Zacks Research to Hold

Simmons First National (NASDAQ:SFNC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on SFNC. Morgan Stanley upped their price target on Simmons First National from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded Simmons First National from a “sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Simmons First National in a research note on Monday, December 29th. National Bank Financial set a $21.00 price target on shares of Simmons First National in a report on Wednesday, January 21st. Finally, DA Davidson increased their price target on shares of Simmons First National from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Simmons First National currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.43.

Simmons First National Trading Down 2.3%

NASDAQ:SFNC opened at $18.96 on Thursday. Simmons First National has a 1 year low of $17.00 and a 1 year high of $22.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average price of $20.20 and a two-hundred day moving average price of $19.32. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -6.84 and a beta of 0.91.

Simmons First National (NASDAQ:SFNC) last posted its quarterly earnings results on Tuesday, January 20th. The bank reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $249.00 million for the quarter, compared to analysts’ expectations of $238.68 million. Simmons First National had a negative net margin of 27.83% and a positive return on equity of 6.73%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. As a group, sell-side analysts anticipate that Simmons First National will post 1.66 earnings per share for the current fiscal year.

Simmons First National announced that its Board of Directors has initiated a share buyback program on Tuesday, February 17th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Simmons First National

Several hedge funds have recently made changes to their positions in SFNC. Corient Private Wealth LLC increased its stake in Simmons First National by 148.1% in the fourth quarter. Corient Private Wealth LLC now owns 34,068 shares of the bank’s stock valued at $643,000 after purchasing an additional 20,338 shares during the last quarter. S Harris Financial Group LLC acquired a new position in shares of Simmons First National during the 4th quarter valued at about $293,000. TMB Capital Partners LLC acquired a new stake in shares of Simmons First National in the fourth quarter worth approximately $920,000. Beacon Pointe Advisors LLC grew its holdings in Simmons First National by 9.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 12,080 shares of the bank’s stock valued at $228,000 after purchasing an additional 1,007 shares during the period. Finally, NewEdge Advisors LLC increased its position in Simmons First National by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 19,079 shares of the bank’s stock worth $360,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Simmons First National Company Profile

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.