Simmons First National (NASDAQ:SFNC) Lowered to “Market Perform” at Raymond James

Raymond James cut shares of Simmons First National (NASDAQ:SFNC) from an outperform rating to a market perform rating in a research report report published on Wednesday, The Fly reports.

Separately, Zacks Investment Research raised shares of Simmons First National from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Wednesday, March 31st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Simmons First National has an average rating of Hold and a consensus price target of $25.00.

SFNC opened at $29.15 on Wednesday. Simmons First National has a fifty-two week low of $13.75 and a fifty-two week high of $33.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 0.99. The company has a fifty day moving average of $30.33 and a two-hundred day moving average of $23.22. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 12.62 and a beta of 1.01.

Simmons First National (NASDAQ:SFNC) last released its quarterly earnings data on Monday, January 25th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Simmons First National had a net margin of 24.39% and a return on equity of 9.37%. The company had revenue of $199.02 million during the quarter, compared to analysts’ expectations of $198.50 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, equities research analysts forecast that Simmons First National will post 2.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 5th. Stockholders of record on Monday, March 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Simmons First National’s previous quarterly dividend of $0.17. Simmons First National’s payout ratio is currently 26.37%.

In other news, Director Marty Casteel sold 76,170 shares of the business’s stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $25.32, for a total transaction of $1,928,624.40. Following the completion of the sale, the director now owns 172,612 shares of the company’s stock, valued at $4,370,535.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. purchased a new stake in Simmons First National during the 1st quarter valued at about $564,000. Dimensional Fund Advisors LP grew its stake in Simmons First National by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,230,600 shares of the bank’s stock valued at $134,517,000 after acquiring an additional 28,372 shares in the last quarter. Norges Bank purchased a new stake in Simmons First National during the 4th quarter valued at about $24,569,000. JPMorgan Chase & Co. grew its stake in Simmons First National by 88.7% during the 4th quarter. JPMorgan Chase & Co. now owns 447,485 shares of the bank’s stock valued at $9,662,000 after acquiring an additional 210,386 shares in the last quarter. Finally, Truist Financial Corp purchased a new stake in Simmons First National during the 4th quarter valued at about $199,000. 24.18% of the stock is owned by institutional investors.

Simmons First National Company Profile

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. It 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; insurance products; and securities and investment services.

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