Simmons First National (NASDAQ:SFNC) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Simmons First National (NASDAQ:SFNC) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the stock. Stephens set a $30.00 price target on shares of Simmons First National and gave the company a buy rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded shares of Simmons First National from a hold rating to a buy rating and set a $26.00 price target for the company in a research report on Tuesday, September 10th. Finally, Sandler O’Neill upgraded shares of Simmons First National from a hold rating to a buy rating and lifted their price target for the company from $26.00 to $30.00 in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $28.80.

NASDAQ SFNC opened at $25.54 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Simmons First National has a 1-year low of $22.08 and a 1-year high of $32.10. The company has a 50 day moving average of $24.60 and a 200-day moving average of $24.52. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 10.78 and a beta of 1.09.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Simmons First National had a net margin of 24.55% and a return on equity of 9.90%. The company had revenue of $189.36 million during the quarter, compared to the consensus estimate of $186.20 million. On average, equities research analysts forecast that Simmons First National will post 2.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, September 13th. This represents a $0.64 annualized dividend and a yield of 2.51%. Simmons First National’s dividend payout ratio is currently 27.00%.

In other news, CEO George Makris, Jr. acquired 10,858 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $24.37 per share, for a total transaction of $264,609.46. Following the completion of the transaction, the chief executive officer now directly owns 377,243 shares in the company, valued at $9,193,411.91. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.02% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SFNC. Pearl River Capital LLC acquired a new position in Simmons First National during the second quarter valued at approximately $59,000. Marshall Wace North America L.P. acquired a new position in Simmons First National during the first quarter valued at approximately $59,000. Meridian Management Co. raised its position in Simmons First National by 5.6% during the second quarter. Meridian Management Co. now owns 9,690 shares of the bank’s stock valued at $225,000 after purchasing an additional 513 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Simmons First National during the second quarter valued at approximately $226,000. Finally, Balyasny Asset Management LLC acquired a new position in Simmons First National during the second quarter valued at approximately $267,000. Institutional investors and hedge funds own 20.42% 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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