Simmons First National (NASDAQ:SFNC) Lowered to Strong Sell at ValuEngine

Simmons First National (NASDAQ:SFNC) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday, ValuEngine reports.

A number of other analysts have also recently issued reports on SFNC. DA Davidson raised their target price on shares of Simmons First National to $33.00 and gave the stock a “buy” rating in a research note on Thursday, December 26th. Piper Sandler cut shares of Simmons First National from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.50 to $27.00 in a research note on Thursday, January 23rd. Finally, BidaskClub upgraded shares of Simmons First National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Shares of NASDAQ SFNC traded up $1.00 during mid-day trading on Thursday, reaching $17.75. 528,982 shares of the company were exchanged, compared to its average volume of 739,571. The company’s 50-day simple moving average is $20.46 and its 200-day simple moving average is $24.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.90 billion, a P/E ratio of 7.33 and a beta of 1.11. Simmons First National has a twelve month low of $14.56 and a twelve month high of $27.29.

Simmons First National (NASDAQ:SFNC) last posted its earnings results on Thursday, January 23rd. The bank reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $212.70 million during the quarter, compared to analysts’ expectations of $205.30 million. Simmons First National had a net margin of 24.10% and a return on equity of 10.48%. During the same quarter last year, the company posted $0.61 EPS. As a group, equities research analysts expect that Simmons First National will post 2.2 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in SFNC. Newport Trust Co increased its holdings in Simmons First National by 96.6% in the 4th quarter. Newport Trust Co now owns 2,258,342 shares of the bank’s stock valued at $60,501,000 after buying an additional 1,109,686 shares during the period. Norges Bank bought a new position in Simmons First National in the 4th quarter valued at about $23,512,000. State Street Corp increased its holdings in Simmons First National by 14.0% in the 4th quarter. State Street Corp now owns 3,801,895 shares of the bank’s stock valued at $102,427,000 after buying an additional 467,496 shares during the period. LSV Asset Management bought a new position in Simmons First National in the 4th quarter valued at about $8,077,000. Finally, Bank of New York Mellon Corp increased its holdings in Simmons First National by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,497,434 shares of the bank’s stock valued at $40,117,000 after buying an additional 281,947 shares during the period. 21.56% of the stock is currently owned by hedge funds and other institutional investors.

Simmons First National Company Profile

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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Analyst Recommendations for Simmons First National (NASDAQ:SFNC)

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