Simmons First National Co. (NASDAQ:SFNC) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.17 per share by the bank on Monday, October 5th. This represents a $0.68 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, September 14th.
Simmons First National has increased its dividend payment by an average of 33.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Simmons First National has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Simmons First National to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 39.8%.
NASDAQ SFNC traded down $0.63 on Thursday, hitting $16.76. The stock had a trading volume of 9,819 shares, compared to its average volume of 553,113. Simmons First National has a one year low of $13.75 and a one year high of $27.29. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 6.60 and a beta of 0.97. The company’s 50-day moving average is $16.53 and its two-hundred day moving average is $19.25. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.61.
In related news, CEO George Makris, Jr. purchased 9,000 shares of Simmons First National stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $16.37 per share, with a total value of $147,330.00. Following the acquisition, the chief executive officer now directly owns 431,346 shares in the company, valued at $7,061,134.02. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Makris, Jr. purchased 10,000 shares of Simmons First National stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $14.77 per share, with a total value of $147,700.00. Following the completion of the acquisition, the chief executive officer now owns 441,346 shares in the company, valued at $6,518,680.42. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 29,000 shares of company stock worth $462,230. Company insiders own 1.60% of the company’s stock.
Several research firms recently commented on SFNC. Zacks Investment Research raised shares of Simmons First National from a “sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Raymond James upgraded shares of Simmons First National from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a research report on Wednesday, June 17th. ValuEngine downgraded shares of Simmons First National from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Finally, BidaskClub downgraded shares of Simmons First National from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.
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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