Simmons First National (NASDAQ:SFNC) Sets New 1-Year High – Here’s Why

Simmons First National Corporation (NASDAQ:SFNC) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $23.19 and last traded at $23.1020, with a volume of 252560 shares trading hands. The stock had previously closed at $22.65.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. DA Davidson reissued a “neutral” rating and set a $21.00 price objective on shares of Simmons First National in a research report on Friday, April 17th. Zacks Research cut shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. National Bank Financial set a $24.00 price objective on shares of Simmons First National in a report on Monday. Morgan Stanley reaffirmed a “positive” rating on shares of Simmons First National in a research note on Monday. Finally, Stephens lifted their target price on shares of Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Simmons First National has an average rating of “Moderate Buy” and an average price target of $23.00.

Simmons First National Price Performance

The firm has a 50-day moving average of $21.57 and a 200-day moving average of $20.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.38 billion, a P/E ratio of -9.10 and a beta of 0.91.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Simmons First National had a negative net margin of 25.44% and a positive return on equity of 7.81%. The firm had revenue of $241.37 million during the quarter, compared to analyst estimates of $243.02 million. During the same period in the previous year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, analysts predict that Simmons First National Corporation will post 2.08 EPS for the current year.

Simmons First National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th. Simmons First National’s dividend payout ratio (DPR) is currently -33.59%.

Institutional Investors Weigh In On Simmons First National

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFNC. Royal Bank of Canada increased its stake in shares of Simmons First National by 27.2% in the first quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock worth $1,820,000 after purchasing an additional 18,933 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Simmons First National by 271.3% during the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock valued at $3,261,000 after buying an additional 116,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Simmons First National by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock worth $1,516,000 after buying an additional 3,221 shares during the period. NewEdge Advisors LLC boosted its holdings in Simmons First National by 3,624.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock worth $268,000 after buying an additional 12,686 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in Simmons First National by 1,288.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after buying an additional 16,746 shares in the last quarter. 27.58% of the stock is owned by hedge funds and other institutional investors.

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.