Simmons First National (NASDAQ:SFNC) Releases Earnings Results, Beats Estimates By $0.05 EPS

Simmons First National (NASDAQ:SFNC) posted its earnings results on Tuesday. The bank reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05, Zacks reports. The business had revenue of $197.30 million for the quarter, compared to analyst estimates of $238.68 million. Simmons First National had a negative net margin of 29.70% and a positive return on equity of 5.84%. Simmons First National’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS.

Simmons First National Stock Up 9.0%

Shares of SFNC stock traded up $1.74 during mid-day trading on Wednesday, reaching $21.02. 2,214,414 shares of the company’s stock traded hands, compared to its average volume of 1,044,730. The company’s 50-day moving average price is $18.85 and its 200-day moving average price is $19.22. The company has a market cap of $3.04 billion, a P/E ratio of -7.18 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.20. Simmons First National has a 12 month low of $17.00 and a 12 month high of $23.44.

Simmons First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, December 15th. Simmons First National’s payout ratio is -29.01%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. National Bankshares set a $21.00 price target on shares of Simmons First National in a research report on Wednesday. Wall Street Zen downgraded Simmons First National from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings restated a “sell (d+)” rating on shares of Simmons First National in a report on Monday, December 29th. Morgan Stanley began coverage on shares of Simmons First National in a report on Tuesday, October 28th. They set a “positive” rating and a $22.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price target on shares of Simmons First National from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.17.

Insider Buying and Selling

In other Simmons First National news, Director Steven A. Cosse acquired 8,603 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $17.44 per share, with a total value of $150,036.32. Following the completion of the purchase, the director directly owned 113,652 shares of the company’s stock, valued at approximately $1,982,090.88. The trade was a 8.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of Simmons First National by 27.2% in the first quarter. Royal Bank of Canada now owns 88,632 shares of the bank’s stock worth $1,820,000 after acquiring an additional 18,933 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Simmons First National by 271.3% in the 1st quarter. AQR Capital Management LLC now owns 158,856 shares of the bank’s stock worth $3,261,000 after purchasing an additional 116,072 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Simmons First National by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,861 shares of the bank’s stock worth $1,516,000 after purchasing an additional 3,221 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Simmons First National by 3,624.6% during the first quarter. NewEdge Advisors LLC now owns 13,036 shares of the bank’s stock valued at $268,000 after buying an additional 12,686 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Simmons First National by 1,288.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,046 shares of the bank’s stock worth $411,000 after buying an additional 16,746 shares during the last quarter. Institutional investors own 27.58% of the company’s stock.

Simmons First National Company Profile

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.