Simmons First National (NASDAQ:SFNC) Raised to Hold at Wall Street Zen

Simmons First National (NASDAQ:SFNC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Morgan Stanley began coverage on Simmons First National in a research report on Tuesday, October 28th. They set a “positive” rating and a $22.00 price target on the stock. Zacks Research lowered Simmons First National from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. National Bankshares set a $22.00 price objective on shares of Simmons First National in a research note on Tuesday, October 28th. Finally, Baird R W upgraded shares of Simmons First National from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Simmons First National Trading Down 0.6%

Shares of SFNC opened at $18.67 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -6.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.88 and a quick ratio of 0.88. Simmons First National has a 1-year low of $17.00 and a 1-year high of $24.51. The company has a 50-day moving average of $18.30 and a 200 day moving average of $19.15.

Simmons First National (NASDAQ:SFNC) last issued its earnings results on Thursday, October 16th. The bank reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Simmons First National had a positive return on equity of 5.84% and a negative net margin of 29.70%.The company had revenue of $232.54 million during the quarter, compared to the consensus estimate of $103.26 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Simmons First National’s revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that Simmons First National will post 1.66 EPS for the current year.

Insider Activity

In other news, Director Steven A. Cosse bought 8,603 shares of Simmons First National stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $17.44 per share, for a total transaction of $150,036.32. Following the completion of the acquisition, the director owned 113,652 shares of the company’s stock, valued at $1,982,090.88. This trade represents a 8.19% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David W. Garner purchased 3,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was purchased at an average price of $17.66 per share, for a total transaction of $52,980.00. Following the completion of the acquisition, the executive vice president directly owned 72,345 shares in the company, valued at approximately $1,277,612.70. This represents a 4.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Simmons First National

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Simmons First National by 197.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the bank’s stock worth $32,000 after acquiring an additional 1,104 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Simmons First National by 42.5% in the third quarter. Jones Financial Companies Lllp now owns 2,175 shares of the bank’s stock valued at $43,000 after purchasing an additional 649 shares during the period. Osaic Holdings Inc. raised its stake in shares of Simmons First National by 32.0% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock worth $50,000 after purchasing an additional 644 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Simmons First National by 35.2% in the second quarter. GAMMA Investing LLC now owns 3,426 shares of the bank’s stock worth $65,000 after purchasing an additional 892 shares during the last quarter. Finally, SouthState Corp acquired a new stake in shares of Simmons First National during the first quarter worth about $71,000. 27.58% of the stock is owned by hedge funds and other institutional investors.

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. The company 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; treasury management; insurance products; and securities and investment services.