Simmons First National (NASDAQ:SFNC) Reaches New 12-Month High – Still a Buy?

Shares of Simmons First National Corporation (NASDAQ:SFNC) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $24.50 and last traded at $23.84, with a volume of 109,763 shares. The stock had previously closed at $23.51.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Zacks Research raised Simmons First National from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Piper Sandler raised Simmons First National from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $27.50 in a research report on Friday, September 4th. Raymond James Financial restated an “outperform” rating and issued a $25.00 target price on shares of Simmons First National in a research note on Friday, July 17th. Robert W. Baird set a $25.00 price target on Simmons First National in a research report on Monday, October 19th. Finally, DA Davidson upped their price target on Simmons First National from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.69.

Simmons First National Price Performance

The firm has a market cap of $3.36 billion, a P/E ratio of 11.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day moving average is $22.86 and its 200 day moving average is $21.80.

Simmons First National (NASDAQ:SFNC) last announced its earnings results on Thursday, October 15th. The bank reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Simmons First National had a net margin of 18.38% and a return on equity of 8.73%. The business had revenue of $251.17 million during the quarter, compared to the consensus estimate of $254.03 million. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, analysts anticipate that Simmons First National Corporation will post 2.08 earnings per share for the current year.

Simmons First National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Simmons First National’s payout ratio is 48.04%.

Institutional Investors Weigh In On Simmons First National

A number of institutional investors have recently modified their holdings of SFNC. Penn Capital Management Company LLC purchased a new position in shares of Simmons First National in the third quarter worth $14,958,000. Wellington Management Group LLP boosted its position in shares of Simmons First National by 3.9% during the second quarter. Wellington Management Group LLP now owns 6,591,542 shares of the bank’s stock valued at $149,298,000 after buying an additional 245,024 shares during the last quarter. Sei Investments Co. boosted its position in shares of Simmons First National by 151.6% during the first quarter. Sei Investments Co. now owns 405,336 shares of the bank’s stock valued at $7,884,000 after buying an additional 244,220 shares during the last quarter. Empowered Funds LLC increased its holdings in Simmons First National by 33.5% in the 1st quarter. Empowered Funds LLC now owns 625,391 shares of the bank’s stock worth $12,164,000 after buying an additional 157,061 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Simmons First National in the 2nd quarter worth about $3,313,000. 27.58% of the stock is owned by hedge funds and other institutional investors.

About Simmons First National

Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas. Its principal subsidiary, Simmons Bank, provides banking and financial services to individuals, families, businesses and institutions.

The bank offers deposit accounts, consumer and commercial lending, residential and commercial real estate financing, treasury and cash-management services, credit cards, and online and mobile banking. It also provides wealth management, trust, investment and insurance services through specialized business lines.

Founded in 1903, Simmons has expanded from its Arkansas roots into a regional banking franchise serving customers through branches and financial centers across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.