Simmons First National (SFNC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Simmons First National (NASDAQ:SFNC) from a buy rating to a hold rating in a report released on Friday.

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 analysts have also recently commented on SFNC. Sandler O’Neill cut shares of Simmons First National from a buy rating to a hold rating and set a $33.00 price target on the stock. in a research report on Wednesday, July 25th. BidaskClub upgraded shares of Simmons First National from a hold rating to a buy rating in a research report on Thursday, August 16th. ValuEngine cut shares of Simmons First National from a sell rating to a strong sell rating in a research report on Tuesday, October 2nd. Robert W. Baird initiated coverage on shares of Simmons First National in a research report on Tuesday, October 16th. They set an outperform rating and a $34.00 price target on the stock. Finally, Stephens set a $34.00 price target on shares of Simmons First National and gave the company a buy rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $32.40.

Shares of SFNC stock traded down $0.21 during trading on Friday, hitting $27.54. The company had a trading volume of 194,854 shares, compared to its average volume of 394,499. Simmons First National has a 52 week low of $24.58 and a 52 week high of $33.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 12.20 and a beta of 1.03.

Simmons First National (NASDAQ:SFNC) last issued its quarterly earnings results on Monday, October 22nd. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Simmons First National had a net margin of 22.55% and a return on equity of 9.66%. The business had revenue of $176.69 million for the quarter, compared to analysts’ expectations of $175.20 million. As a group, sell-side analysts forecast that Simmons First National will post 2.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, December 13th. Simmons First National’s payout ratio is currently 35.09%.

A number of hedge funds and other institutional investors have recently modified their holdings of SFNC. Principal Financial Group Inc. boosted its stake in shares of Simmons First National by 104.5% during the first quarter. Principal Financial Group Inc. now owns 609,471 shares of the bank’s stock valued at $17,339,000 after purchasing an additional 311,384 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of Simmons First National by 150.5% during the second quarter. Meadow Creek Investment Management LLC now owns 17,034 shares of the bank’s stock valued at $509,000 after purchasing an additional 10,234 shares during the period. Royal Bank of Canada boosted its stake in shares of Simmons First National by 89.4% during the first quarter. Royal Bank of Canada now owns 30,132 shares of the bank’s stock valued at $857,000 after purchasing an additional 14,227 shares during the period. Raymond James & Associates boosted its stake in shares of Simmons First National by 147.9% during the second quarter. Raymond James & Associates now owns 49,030 shares of the bank’s stock valued at $1,466,000 after purchasing an additional 29,248 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of Simmons First National by 64.8% during the second quarter. WINTON GROUP Ltd now owns 342,070 shares of the bank’s stock valued at $10,228,000 after purchasing an additional 134,529 shares during the period. Institutional investors and hedge funds own 60.13% of the company’s stock.

About Simmons First National

Simmons First National Corporation operates as the holding company for Simmons Bank that provides financial products and services to individuals and businesses. It offers checking, savings, and time deposits; loan products, including consumer, real estate, commercial, agricultural, equipment, and SBA lending; personal and corporate trust services; credit cards; investment management products; insurance products; and securities and investment services.

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