Simmons First National (NASDAQ:SFNC) Hits New 12-Month High – Should You Buy?

Simmons First National Corporation (NASDAQ:SFNC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $22.62 and last traded at $22.3650, with a volume of 1008122 shares changing hands. The stock had previously closed at $22.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SFNC shares. Zacks Research cut shares of Simmons First National from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Stephens boosted their price target on Simmons First National from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. DA Davidson reaffirmed a “neutral” rating and set a $21.00 price objective on shares of Simmons First National in a research note on Friday, April 17th. Morgan Stanley decreased their price objective on Simmons First National from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings upgraded Simmons First National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Simmons First National currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Simmons First National Trading Down 1.2%

The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -8.72 and a beta of 0.91. The business has a fifty day moving average of $21.10 and a two-hundred day moving average of $20.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90.

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

Simmons First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, June 15th. Simmons First National’s dividend payout ratio is currently -33.59%.

Simmons First National announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 17th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Simmons First National

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Simmons First National in the 3rd quarter worth approximately $129,282,000. Vanguard Group Inc. raised its stake in Simmons First National by 12.0% during the third quarter. Vanguard Group Inc. now owns 16,419,609 shares of the bank’s stock worth $314,764,000 after purchasing an additional 1,763,161 shares during the period. Basswood Capital Management L.L.C. boosted its holdings in shares of Simmons First National by 325.7% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,143,055 shares of the bank’s stock valued at $21,547,000 after purchasing an additional 874,513 shares during the last quarter. Leeward Investments LLC MA purchased a new stake in shares of Simmons First National during the 1st quarter valued at $15,744,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Simmons First National by 97.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,469,594 shares of the bank’s stock valued at $27,702,000 after buying an additional 725,489 shares during the period. Hedge funds and other institutional investors own 27.58% of the company’s stock.

About Simmons First National

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.