Simmons First National Corporation (SFNC) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Simmons First National Corporation (NASDAQ:SFNC) from a buy rating to a hold rating in a report released on Tuesday.
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 research firms also recently weighed in on SFNC. ValuEngine downgraded Simmons First National Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded Simmons First National Corporation from a strong sell rating to a sell rating in a report on Wednesday, June 21st. Stephens upgraded Simmons First National Corporation from an equal weight rating to a buy rating and lifted their price objective for the stock from $60.00 to $64.00 in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. upgraded Simmons First National Corporation from an underperform rating to a market perform rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $61.25.
Shares of Simmons First National Corporation (SFNC) opened at 52.20 on Tuesday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 17.24 and a beta of 1.12. Simmons First National Corporation has a 12 month low of $45.90 and a 12 month high of $67.00. The company’s 50-day moving average price is $52.81 and its 200-day moving average price is $53.97.
Simmons First National Corporation (NASDAQ:SFNC) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. Simmons First National Corporation had a return on equity of 8.71% and a net margin of 21.03%. The business had revenue of $112.56 million for the quarter, compared to the consensus estimate of $110 million. Analysts anticipate that Simmons First National Corporation will post $3.16 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Simmons First National Corporation’s dividend payout ratio is currently 33.00%.
In related news, Director Joseph D. Porter sold 23,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $55.00, for a total value of $1,265,000.00. Following the sale, the director now directly owns 48,819 shares of the company’s stock, valued at $2,685,045. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher R. Kirkland sold 547 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $55.00, for a total value of $30,085.00. Following the completion of the sale, the director now directly owns 228,399 shares in the company, valued at $12,561,945. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,747 shares of company stock worth $1,357,029. Company insiders own 4.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in Simmons First National Corporation during the second quarter valued at about $477,000. Piedmont Investment Advisors LLC acquired a new stake in Simmons First National Corporation during the second quarter valued at about $341,000. The Manufacturers Life Insurance Company boosted its stake in Simmons First National Corporation by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 23,349 shares of the bank’s stock valued at $1,235,000 after buying an additional 588 shares during the last quarter. State Street Corp boosted its stake in Simmons First National Corporation by 0.8% in the second quarter. State Street Corp now owns 1,001,720 shares of the bank’s stock valued at $52,992,000 after buying an additional 8,124 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in Simmons First National Corporation by 1,063.4% in the second quarter. Brandywine Global Investment Management LLC now owns 67,245 shares of the bank’s stock valued at $3,558,000 after buying an additional 61,465 shares during the last quarter. 25.96% of the stock is currently owned by institutional investors.
Simmons First National Corporation Company Profile
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary bank, Simmons Bank, provides financial services to individuals and businesses throughout the market areas they serve. As of December 31, 2016, Simmons Bank conducted banking operations through 150 financial centers located in communities throughout Arkansas, Kansas, Missouri and Tennessee.
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